According to Business Times, Naza is set to take up the distributorship of the Koenigsegg brand here in Malaysia and we could see the first units going on sale in February. Naza currently already holds distributorships of Ferrari and Maserati, so this will be the group’s third high performance brand. Koenigsegg is expected to be a very niche model in Malaysia, even more niche than the Ferrari or Maserati brands, especially the latter which is able to target buyers with a budget of about a million bucks and sway their purchase decision from a 750Li or a S500 to a Quattroporte. Koeniegseggs will be a completely different price tag altogether, with the CCX expected to go for over 3 million ringgit at least. More details to come when an official announcement is made.

© 2012 Paul Tan's Automotive News. All Rights Reserved.

This story originally appeared on Paul Tan's Automotive News on Sun, 27 May 12 12:40:44 +0000.

No related posts.

This is a shocking piece of news. Remember Koenigsegg that was this close in buying out Saab from General Motors that a preliminary agreement was signed in June indicating that the negotiations have entered the final stages? Well, the latest update reveal that the automaker has pulled out of the deal to take over Saab. Apparently the reason behind this is the delay in completing the deal that have led to the emergence of certain risks and uncertainties.

Furthermore, General Motors revealed previously that if Saab is not sold by the end of year, it will shut it down. Koenigsegg’s head Christian von Koenigsegg said, “We regret that after six months of intense and goal-oriented work we have come to the painful and difficult conclusion that we are not going to be able to carry out the acquisition of Saab Automobile.”

© 2012 Paul Tan's Automotive News. All Rights Reserved.

This story originally appeared on Paul Tan's Automotive News on Sun, 27 May 12 12:40:44 +0000.

No related posts.

When Koenigsegg announced that it was interested in taking over Saab from GM, other than the usual questions on whether the Swedish supercar company would have the ability and experience to turn the brand around, there was also the question of how Koenigsegg was going to finance the deal.

Of course they’re going to get help – and the first ‘partner’ has been announced – Beijing Auto. Beijing Auto will be taking up a stake in Koenigsegg which will help them finance the Saab takeover bid. “This is an important step on the road toward a new Saab. We have a well prepared business plan, an important partnership and we are ready to proceed without government financing,” said Koenigsegg CEO Christian von Koenigsegg.

Beijing Auto was not successful in their bid to get a piece of the GM Europe pie with Opel and Vauxhall, but plan B seems to have worked – they now have another way in through Saab. There were also rumours earlier this year that Beijing Auto is seeking to buy Delphi’s non-core assets and Volvo, though now Geely is the only sole bidder for Volvo. Beijing’s JV partners in China include Daimler AG and Hyundai.

© 2012 Paul Tan's Automotive News. All Rights Reserved.

This story originally appeared on Paul Tan's Automotive News on Sun, 27 May 12 12:40:44 +0000.

No related posts.

This new ownership could change the kind of cars that Saab offers. Currently as part of GM it kinda tries to be some kind of volume seller because that’s just the way GM does stuff, but probably because of branding and maybe product that strategy never did work out well. GM’s parts bin never did gel well with the kind of products the Saab brand used to stand for and the modern Saab’s attempt to be more friendly to the masses did not receive a hot response.

Under the new supercar maker owner, it could evolve into a more specialized manufacturer, producing niche cars for a smaller customer base. The only question is, will young Koenigsegg have the experience to manage a company like Saab? Fortunately for both Koenigsegg and Saab, the supercar management is not just made up of its young CEO, but also includes investors. Koenigsegg will also be bringing some other investors into the Saab deal later, because frankly I don’t think a niche supercar maker like Koenigsegg is able to afford to buy up Saab on its own.

© 2012 Paul Tan's Automotive News. All Rights Reserved.

This story originally appeared on Paul Tan's Automotive News on Sun, 27 May 12 12:40:44 +0000.

No related posts.