Saab auto news

Video: Saab victorious in inaugural Swedish Touring Car race

The sequel to Frankenstein is being written in Swedish, by Saab. The ostensibly former car company could teach the good doctor about life after death, having earned itself more good news by winning the inaugural race of the Swedish Touring Car series. Team Tidö's black 9-3 racer was on pole and carried that lead all the way to the checkered flag. Driving it was Linus Ohlsson, whose past triumphs include taking third in the 2011 Porsche Carrera Cup Scandinavia series.

Just to be clear, all the cars in the series are silhouette racers, with Saab, Volvo, BMW and Citroën bodies placed over a spec chassis. Still, it was the body with the Griffin badge that beat the rest, and we all know Saab's faithful could use something to cheer about these days. Scroll down for a video recap of the race; it's in Swedish, so hit the CC button for English subtitles if you need 'em.

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Report: Saab union asks Obama to pressure GM for licensing deal

The door has not yet closed on Saab. Hoping for yet another 11th hour stay of execution, the defunct carmaker's chief union, IF Metall, has written directly to President Obama, asking him to intervene, according to Just-Auto. While on the surface, this may seem silly, it's actually rather clever, even if it has little likelihood of working.

With the United States government still owning 26 percent of General Motors, the Swedish union is hoping it can appeal to Obama to pressure General Motors into granting licenses to continue manufacturing Saab vehicles, according to the report. It's this sticking point that has torpedoed every attempt to forestall Saab's dissolution, as GM fears that were it to allow continued production of Saabs developed under GM's ownership, it would open up the possibility of intellectual property conflicts, particularly if a Chinese manufacturer that competes with GM's own Chinese partner, SAIC, acquires Saab.

You have to admire Saab loyalists, as they clearly have not given up hope. But in this case, they just don't have any other options: Unemployment in the Saab hometown of Trollhättan has hit 40 percent, according to the report.

Official: Saab fans save the last 9-3

Congratulations are in order: Saabs United has raised enough money to buy the last Saab 9-3, what is likely to be the last Saab of any sort ever produced. The group will be installing the car in the Saab Cars Museum on a permanent loan, as well as donating the additional money it raised during its fund drive.

Forgive us for being just a bit cynical here, but it's really a shame this particular car is so mundane. It's a Saab 9-3 Aero Griffin, a run-of-the-mill sedan that's a direct descendant of the 2003 model year 9-3. Based on the global General Motors Epsilon platform that also spawned the similarly extinct Pontiac G6, the 9-3 is arguably the car that killed Saab - or at least failed to save it - as GM was never able to sell enough of them or derive enough profit from the ones it managed to move in the U.S. to make a go of the brand.

We're sure all Saab enthusiasts agree that the marque certainly deserved better treatment than it got from Detroit, and when we look back in fond remembrance on Saab, there are any number of models that will come to mind before we think of the final 9-3. Most of them are included in our historical Saab gallery.

Saab devotees rally to save last 9-3

The folks over at Saabs United have been a fixture on the Swedish automobile scene for some time now, cementing themselves as the hub for all manner of Saab news and gossip as the fight to keep the brand alive has ebbed and flowed over the past couple of years. So significant was SU's bond with the automaker that its principle, Steven Wade, had the ear of buyer Victor Muller throughout the General Motors extrication process, and eventually Wade went to work for Saab itself, leaving others to run the website.

With Saab having slipped into bankruptcy and the company's Trollhättan plant idled, Saabs United now finds itself at the center of a new fight - an effort to preserve the final 9-3 - possibly the final Saab ever. An Arctic White Griffin sedan, the 9-3 exists in a state of partial build but is scheduled for final assembly at the end of this month. The car is part of a special batch of about 50 partially finished cars and a cache of spares that Trollhättan dealership group ANA purchased from Saab's bankruptcy estate, and it will be for sale. Saabs United has taken it upon itself to rally the faithful in an attempt to purchase the car for donation to the Saab Cars Museum, which was itself only recently saved.

It seems only fitting that the 9-3 Griffin would join other final examples of various models in Saab's history at the Museum, but even then, the car's fate might not be entirely secure. According to SU, "A number of cars at the museum from the history of Saab that was written in the last two years are NOT secured. They are either borrowed to the museum or are still missing."

As of this writing, the funding effort is well on its way, with Saabs United faithful and various clubs and investors having raised over 15,000 Euros (around $19,750 USD), with a goal of 28,500 Euros ($37,500) within the next 18 days. If the total amount needed is not reached, fundraiser proceeds will still go to the Saab museum, and if extra money is raised, it'll be donated, too. If you're interested in learning more or making a donation, click here.

Report: Saab gets new $492M bid from Youngman

Youngman has made another bid for bankrupt Saab, according to new reports. The Chinese automaker has offered to buy what's left of Saab for $470 million at current conversion rates. The news comes courtesy of Dagens Industri. The newspaper also indicates that's the absolute lowest the Swedish automaker's pledgees and real estate owners will accept to settle the company's impressive debt. The deal would also set aside an additional $1.47 billion to restart production at the mothballed Trollhattan facility. Other foreign automakers are also vying over Saab's remains, including India's Mahindra & Mahindra.

Pang Da, meanwhile, seems to have no interest in continuing to pursue Saab. The company paid out around $59 million for vehicles Saab was supposed to produce. That never happened, and now the Chinese company has had to undergo the unpleasant task of reporting that loss to its investors.

Saab reportedly owes around $1.9 billion at the moment, and its assets are valued at just $532 million.

Official: Swedish Automobile changes name back to Spyker

What's in a name? Just ask the people at Spyker.

Back in 2010, the small Dutch producer of exotic GTs bought an ailing Saab from General Motors and proceeded to focus all its energies on keeping it afloat. And as if to reflect that shift in focus, changed its name to Swedish Automobile NV - or SWAN for short.

Now that Saab has gone bankrupt, however, the Dutch holding company has officially changed its name back to Spyker. Just what that means, however, when the cars are built in the UK by CPP and the sportscar business was sold last year to North Street Capital, remains to be seen.

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Report: Saab's assets less than one-third of its debts

The Detroit News reports the sum total of the remaining Saab assets is worth less than a third of the defunct automaker's debts. All told, the company owes a hefty $1.9 billion at current conversion rates, though its total property value rings in at a comparatively paltry $532 million. The debt includes $89 million owed to former employees, $107 million to General Motors and $388 million to Sweden itself. With so many hands to feed and so few dollars to go around, Saab says only those who hold securities are likely to have their debts paid.

That means those who were employed by Saab Automobile likely won't see a dime. The horizon looks a bit more rosy for Saab Automobile Powertrain workers, however.

Saab had said the company has six or seven investors interested in saving the manufacturer's name from falling into obscurity, though it's unclear how many of those remain dedicated to the prospect currently.

Report: Want to bid for Saab? Get your paperwork in by April 10

Interested in purchasing a Saab? Heck, why not just buy the whole company? If you're in the market, you've got until April 10 to put in a bid, and at present, the only rival you have is China's Youngman.

Chances are, according to the administrators in charge of Saab's liquidation, the sale of Saab assets - which includes Saab Automobile, Saab Automobile Powertrain and Saab Automobile Tools, among others - won't cover the automaker's debt of somewhere between $1.8 and $2 billion (12-13 billion kronor).

Rumor has it that there are a few more potential suitors waiting in the wings, such as India's Mahindra, but none have come out expressing public interest in the bankrupt Swedish brand. Seems everyone is waiting until the last minute, eBay style.

Hundreds of new Saab models spotted rotting at New Jersey port

One of the postscripts of the travails of Saab Cars North America (SCNA) is this, a couple hundred 9-3 and 9-5 sedans left to the unkindness of coastal winds at a New Jersey port facility. According to the poster at Found Our Own Road, there are 900 cars in this Asphodel Meadows awaiting the resolution of the company's fate.

Last we heard, SCNA is still fighting the involuntary bankruptcy filed in Delaware by its dealers and is trying to get the case moved to Michigan. Prior to that, SCNA had been trying to avoid the proceeding altogether in case a bidder was able to acquire the entire company.

While we wait to find out about that, you can head over to Found Our Own Road to see the rest of the photos of a Saab future that almost was.

Report: Saab Museum reopens in Sweden

Part of the sideshow in the Saab revival circus has been the waning and waxing fate of the Saab Museum Trollhättan, Sweden. The U.S. Heritage Collection was sold to two U.S. collectors earlier this year, while the Swedish museum's collection was rescued from breakup by three Swedish interests: the city of Trollhättan, SAAB AB and The Wallenberg Foundation.

With stipulations that its cars can only be displayed at the museum or regionally on occasion, the new museum opened its doors this weekend with the full complement of so-called quirky autos. It's open just about every day this year save for a week in June and the Christmas holidays.

Meanwhile, over at the main event, a joint bid involving BAIC and Panasonic appears to have joined the melee, while we wait on the results of bids from Youngman and Mahindra. We can only hope the Saab car company shares in the same good fortune as the museum.