Good news for Saab, as Spyker Cars announced that they have paid General Motors off in full. The final payment of $24 million was actually due on the 15th of July 2010 but Spyker has opted to pay the amount two weeks early.
A statement from the company confirms that the source of the funds was internal and has not increased the company’s external debt or caused a share issue problem causing the dilution of existing shareholders. No word on the source of the funds, but all that they’re letting out is the fact that it became available after the acquisition of Saab Great Britain Limited by Spyker on the 31st of May.
This as mentioned before has officially released Saab from the shackles of GM and will help in the realisation of the company’s long term plans. The most recent of all was to sell Spyker supercars such as the C8 Aileron in Saab dealerships.
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Can we look forward to sleeker cars from Saab from now on?
Good move at least SAAB is safe now and not to worry will lose the name in automobile history.
Saab need at least another 1 or 2 new models, especially in D or C segment (and a coupe derivative perhaps) to gain some footing from its newfound life!
Why did Spyker not buy Volvo instead. Saab is a losing business…………. BTW who is the official dealer of Saab in Malaysia?
BeemerFreak,
Volvo was bought by Geely of China. Auto Eurokars was the brand custodian for Saab then they let the brand go. Cergazam took over but for service only. At this point, there is nobody holding the franchise for sales.
Volvo would be more expencive for one and Saab is a better brand anyway. Believe it or not Saab has been profitable only a few years ago at over 100k cars, which is there break even point, and that was with 2 outdated models, soon they will have 4 new ones.
well..spyker is better than GM..the company may not quite popular here..but believe me..its a good news..
wow nice other pic paul
paul you should take over the import of saab =)
I believe the pay early option is somewhat related to Bernie Ecclestone who showed an interest in Saab when it was first put up for sale
good news for the swedish car industry
first volvo and now SAAB
hopefully we will have more “exclusive” and unique designs
considering we already have the Germans, French, and of course the Italian designs that have their own exclusive lineage and of course the Spanish(SEAT) and the Czech designs in skoda cars.
a few days ago it was volvo that became ford free