To our Loyal Customers,
We’d like to present some information regarding the future of Saab and it’s continued presence in the U.S. Our hope is that it clears up some of the “misinformation” that is out there regarding Saab and its future!
Sincerely, Christopher J. Cerrina President, Parkfield Saab
A letter from Mark McNabb, Vice President, Premium Channel, General Motors
You”ve always known us as somewhat of an unconventional company. From our very first days, when a group of unassuming jet engineers decided that driving should feel more like flying, we’ve had a natural affinity to seek the not-so-obvious path. Buoyed by a curious mix of ingenuity and optimism, we’ve always found our way.
Today, our sights are set on a new destination: independence.
Last week, General Motors submitted its viability plan to the U.S. Department of Treasury that outlined the corporation’s long-term restructuring goals. In that plan, GM stated that it would actively pursue measures that could result in Saab Automobile AB, including all of Saab’s global operations, becoming an independent company.
Saab has had several different types of ownership during its storied history. Recently, the first step toward re-establishing its independence was taken when Saab Automobile AB in Sweden filed for reorganization under a self-managed Swedish court process that will attempt to create a fully independent business entity. The reorganization in Sweden allows Saab to continue operating, while new ownership possibilities are being pursued. Current business is unaffected during this restructuring process.
So, what exactly does all this mean?
To current Saab owners and loyalists be assured that all warranties on Saab vehicles remain valid. The warranty for both new and Certified Pre-Owned Saab vehicles are provided by GM and remain intact. GM will support continued availability of parts and service. Prepaid scheduled maintenance also remains in effect on all current product offerings.
To those who have recently expressed interest in buying a new Saab, we’ll be there for you as well. All of Saab’s current product offerings remain available. While these times may seem turbulent and uncertain, our cars are just as safe, just as fuel-efficient and just as fun-to-drive as ever. With the full backing of all warranties, you can drive with confidence knowing that your Saab will be covered under its warranty.
We are excited by the potential opportunities tomorrow will bring. And we’re eager to start anew. During the reorganization period, your Saab Dealer stands ready to assist you with all your sales and service needs. In addition, Saab Customer Assistance is available at (800) 955-9007. While it may not be the most conventional path to take, for those who know Saab, you’re well aware we know no other way. With the spirit of Saab leading us, we hope you’ll join us for the ride.
Sincerely, Mark C. McNabb, Vice President, Premium Channel, General Motors Corporation
Saab Automobile on the Way Towards Independence
“Today is the beginning of a new chapter in Saab’s history”
After 20 years of foreign ownership, the future of Saab Automobile is once again in Swedish hands. On Friday, the Vänersborg District Court approved the request for reorganization and restructuring which Saab’s representative submitted earlier in the morning.
“Today is the beginning of a new chapter in Saab’s history”, says Jan Ake Jonsson, Managing Director of Saab Automobile. We are now recreating Saab Automobile as an independent unit. The road ahead will not be easy. Many have already suffered considerably as a result of the crisis in the automobile industry and sacrifices will be a part of our future, but after a period of tough decisions we will have laid the foundations for a new beginning.
“saab has a trademark which is well established both in Sweden and internationally. We have a documented efficient production and we have a strong range of models in development. That is why we have chosen this road. The future will be tough, but the commitment which exists to support the Swedish automobile industry and Saab will help us in the arduous tasks which lie ahead of us.”
The work of piloting the new Saab Automobile into the future will be led by a group of three persons: the lawyer Guy Lofalk, whom the District Court has appointed as Administrator, the Managing Director Jan “ke Jonsson, and the international reorganization expert, Stephen Taylor.
The purpose of the company reorganization is to create a short-term stability that will make it possible to develop a long-term solution for Saab. The Swedish Company Reorganization Act says that an application shall not be approved unless there is reasonable cause to assume that the purpose of the reorganization will be achieved. In today’s decision, the District Court has found that such conditions exist.
“I can already say that I am impressed by the competence within Saab”, says Guy Lofalk, “and with three strong automobile models just around the corner it would be a waste not to try to find a long-term way forward.”
Frequently Asked Questions:
Q: Is Saab in bankruptcy? Is Saab insolvent, or going out of business?
A: Saab is not “going out of business.” Saab is going through a self-managed legal reorganization process in Sweden, under Swedish court supervision. This process enables the brand to continue operating while a new independent funding and new ownership structure is being pursued. We simply don’t know when that process will conclude, or what the exact results will be. Current business is unaffected during the process.
Q: Are there any immediate changes for Saab owners/customers? What about warranties and prepaid maintenance?
A: No. From the standpoint of consumers, nothing at all has changed as result of Saab’s actions. Warranties are completely valid, service and parts are unchanged as well. Prepaid maintenance also remains completely in effect on all current products. All of Saab’s product offerings are intact.
Q: Will Saab continue to develop new products and launch them into the market?
A: This question will be addressed via the ongoing Swedish reorganization process in which new owners/operators for Saab will be pursued. If new ownership arrangements can be completed, then it’s reasonable to expect that new products would be pursued strongly. But we simply don’t know how the restructuring effort will be resolved yet.
