ZEEWOLDE, The Netherlands — With Spyker Cars edging nearer to closing the deal to buy Saab from General Motors, the company offered a detailed look on Monday at how it plans to merge the Swedish brand into its organization and which products are on tap. The shakiest product is the small Saab 9-1, which is not in the business plan at this point.
"Saab will investigate the potential of adding a fourth smaller car line (9-1) in due course provided that the positive development of the smaller car segment continues," said Spyker in a statement. "However, this model is currently not envisaged in the business plan so if the outcome of the investigation is positive, additional financing to develop this model could be required."
It spelled out that Saab will be "a stand-alone niche manufacturer" with three to four model lines. They include the 9-3 in sedan, hatchback, sport wagon, X and convertible models and the 9-5 in sedan, sport wagon and X models. The 9-4X is also in the product portfolio. Spyker said the 9-3, 9-5 and 9-4X are bound for U.S. and Europe.
It also spelled out that Saab's product portfolio "will be renewed completely," starting with the 9-5 launch this summer, the 9-4X in early 2011 and the new 9-3 in 2012.
Even though Spyker Cars will change its name to Saab Spyker Automobiles, it said the entity will operate Spyker and Saab as "two separate operating companies, each focused on its distinct target markets with their respective vehicle lines."
It said production and sales volumes are aimed at "pre-crisis levels" of 100,000 to 125,000 vehicles a year, including the 9-4X, which will be built in Mexico.
"Saab's Technical Develop Center in Trollhättan [Sweden] has full capability in developing complete vehicles," Spyker noted in a remark seemingly aimed at naysayers.
On a financial note, Spyker said on Tuesday that the $556 million European Investment Bank loan "is still to be granted." Securing the loan is a condition for the acquisition of Saab. "With the EIB loan, which is still to be granted, Saab's funding is secured and no share issues will be required," Spyker said. No word from Spyker on when it expects to tie up loose ends with the EIB loan.
Inside Line says: Spyker puts forth an ambitious — almost defiant — plan for Saab's product portfolio. — Anita Lienert, Correspondent
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jscion says:
02:43 PM, 03/01/2010
The new 9-5 and 9-4X look very promising but could fade into the backround with other manufacturers introducing much more attractive products. Saab needs to get back to it's pre-GM days of producing stand-out models and not so many of them as GM flooded the company with Subaru and other GM models that have ruined that brand image. Why not a retro looking entry-level compact wearing the 900 or 99 badge??? Maybe even reskin the new 9-5 in a few years and slap a 9000 badge on it!!! Then I would consider a Saab again!!!
adavis2493 says:
01:08 PM, 02/02/2010
My question is will Saab still be incorporated into the GM Dealer Networks? My Saab Dealer is a makeshift Hummer/Saab/GMC/Buick Dealer.
charlesb says:
12:07 PM, 02/02/2010
I think Spyker is kind of pissing into the winds of change with this endeavor but more power to them.