Who bought Saab after GM?
Saab, the iconic Swedish automobile manufacturer, has a rich history that includes a significant transition after its ownership by General Motors (GM). This article explores the timeline of Saab's ownership changes and the key players involved in its acquisition following GM's divestment.
The GM Era and Its Conclusion
General Motors acquired a 50% stake in Saab in 1989, eventually increasing its ownership to 100% by 2000. Under GM's management, Saab experienced both innovation and challenges, particularly in adapting to the rapidly changing automotive market. However, by 2008, GM faced severe financial difficulties and decided to sell Saab as part of its restructuring efforts.
The Acquisition by Spyker Cars
In early 2010, after a series of failed sales attempts, GM officially sold Saab to the Dutch sports car manufacturer Spyker Cars for approximately $74 million. This acquisition was seen as a lifeline for Saab, which had been struggling to maintain its identity and market presence under GM's umbrella.
Challenges Under New Ownership
Despite the initial optimism surrounding the acquisition, Spyker faced significant challenges in revitalizing Saab. The company struggled with financial instability and production issues, leading to a series of layoffs and factory shutdowns. In December 2011, Saab filed for bankruptcy, marking a tragic end to its operations under Spyker's ownership.
Subsequent Ownership Changes
After Saab's bankruptcy, the brand and its assets were sold to National Electric Vehicle Sweden (NEVS) in 2012. NEVS aimed to revive the Saab brand by focusing on electric vehicles, but the journey has been fraught with difficulties, including financial struggles and limited production capabilities.
Conclusion
The story of Saab's ownership after GM is a testament to the challenges faced by automotive brands in a competitive market. From its acquisition by Spyker Cars to its current status under NEVS, Saab's journey reflects the complexities of maintaining a legacy brand in the ever-evolving automotive landscape.
Frequently Asked Questions
Why did GM ruin Saab?
SAAB failed because of the bankruptcy of GM and due to lack of investment in producing compelling products in good time. The new 9--5 had just started being delivered to customers when the plug was pulled. The previous 9--5 was based on the GM 2900 platform which dates from 1988.
Why did GM shut down Pontiac?
Amid the financial crisis, General Motors needed a government bailout. Congress agreed but required the company to restructure its business and cut costs. In the end, GM decided to eliminate several brands, including Pontiac. The last car to wear the arrowhead badge was a G6, which ended production in early 2010.
Can you still get parts for Saab cars?
The Swedish company stopped car production in 2011, but we still stock a huge range of Saab spares for popular models including 93, 95, 900, and 99 here at Euro Car Parts, so you can keep your Saab car running smoothly.
Was Saab owned by Subaru?
GM bought out Saab Automobile completely in 2000, rolling out a line of rebadged models that were tepidly received, though a version of Subaru's WRX called the Saab 9-2X Aero garnered critical praise.
Who makes Saab parts now?
Orio is the new name for the former Saab Automobile Parts AB, which was the sole provider of genuine Saab parts for over 70 years. The company was originally founded in 1937 as Svenska Aeroplan AB (Swedish Airplane Corporation), which later became Saab AB.
Who owns Saab right now?
In June 2011, the British company sold its remaining stake bringing its 16-year involvement in Saab to an end. As of August 2020, Investor AB owns a 30.16% stake in the company (39.69% of the voting rights) and is the top owner.
Does Saab use GM engines?
General Motors would continue to supply Saab with engines and transmissions, and also completed vehicles in the shape of the new Saab 9-4x from GM's Mexican factory.
Who owned Saab before GM?
After the company's 20-year merger with Scania-Vabis came to an end in 1989, American car giant General Motors took a 50 per cent share of the new Saab Automobile business before making the company a wholly-owned subsidiary in 2000.
Did GMC buy Saab?
GM bought out Saab Automobile completely in 2000, rolling out a line of rebadged models that were tepidly received, though a version of Subaru's WRX called the Saab 9-2X Aero garnered critical praise. The 2009 economic crash and GM's bankruptcy spelled doom for Saab.
Did Saab use GM engines?
General Motors would continue to supply Saab with engines and transmissions, and also completed vehicles in the shape of the new Saab 9-4x from GM's Mexican factory.
