Deathwatch - SAAB to drive down memory lane?

24 June 2011

deathwatchHow many cars did Swedish manufacturers SAAB sell last year? Just 30,000. That is just one of the reasons why the company has announced it can no longer afford to pay the wages of its employees. Eek.

According to the BBC, production at Saab's main plant in Sweden is currently on hold after it was unable to pay suppliers. A deal has been reached with two Chinese companies for substantial investment in the company, but this is not guaranteed - the deal still needs approval from Chinese and European regulators.

Analysts believe SAAB needed to sell 120,000 last year to break even; missing that target by 90,000 plus continued under-investment means we could be soon saying goodbye to a motoring brand nobody much cares about in the 21st century anyway.

TOPICS:   High Street News   Travel

4 comments

  • The B.
    I thought SAAB had already gone belly up once? Is this the second round of "re-financing"?
  • Gunn
    There is a showroom near me and I've no idea how it is still going. No doubt some other company will buy it cheap, asset strip the good stuff and make money out of it eventually.
  • Troll
    Swedish And Absolutely Broke.......always thought it stood for something like that
  • charlie
    Only the tossers in the city used to buy saabs . They were kool back in the 80's and 90's. i guess times have changes, now the tossers buy other stuff.

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