Interesting that GM screams for bailout money for themselves, but then let another car company they own -- who actually makes a decent product -- die off... Just another indicator of really bad business decisions by GM and why they really need to be left to die a natural death. Trust me, we would be better off in the long run because the void would be filled eventually by a company that is much better run with much more competitive products.
Would it really? Can a company that sells 10 million cars worldwide yearly really be all that bad, or are they simply not meeting your expectations, which seem to be different (not worse, not better, just different somehow) than those of the 10 million people a year who vote with their wallets. I think if GM disappeared today - simply ceased doing business - vanished from the face of the earth, Toyota and VW would simply fill the void. And I can't really say they're that much better - or even any better. I'm not a fan of GM cars or trucks, they simply don't resonate with me, and I'm sure as a corporate entity GM is no saint, but I also respect what it takes for any large company to be in business today, and I think GM serves a purpose in the great scheme of things. Their cars are inexpensive, fairly reliable and cheap to service,insure and own - I know there are exceptions and not every car they make is, but by and large they are. Should the government be allowed to intervene in whether or not they survive - I don't know, I think from the gummint's perspective it was more about keeping people at work and not losing the rest of the economy to recession and depression rather than saving the corporate entity that is GM.
Obviously 10 million is not enough. If they were a healthy company schlepping stuff people wanted, why did we have to bail them out? If they had brands people wanted, why are they not selling enough to survive? They are selling what is there because they are practically giving it away, and it shows. Your response doesn't add up to reality. They sell ugly, poorly designed cars that are not, in the scheme of things, reliable. Reliability comes in many forms... Will they run for a long time? Typically, yes. However, will they be constantly falling apart in that same time frame? Yes, they will.
Do you have first hand knowledge of this "falling apart" on 10 million cars or are you simply parroting popular rhetoric? What sank GM was not poor quality of construction or engineering, it was legacy costs and unions. Their labor cost per car were totally out of whack with the rest of the industry, wherreas their warranty costs were completely inline with the other major US mfrs. Now that they have those costs in hand (by dropping them on us the taxpayers or by simply walking away from those folks who made them what they are today - their retirees) they're profitable on far fewer cars per year, and expanding their growth into new markets, where they can sustain those costs and continue to be profitable. They also got out of a lot of ill conceived and poorly managed ancillary businesses that cost them billions. How about the Fiat fiasco? $4 billion thrown away - paid FIAT $2 billion for a share, then paid them $2 billion more to get out of the deal! Where do you think FIAT got the money to buy Chrysler? From GM! I am not by any means a GM fanboi - I don't own their cars, as I said before, they don't resonate with me, but I don't think they're unmitigated crap like some other people do. There are quite a few former MINI owners who think our beloved little pocket rockets are pure junk too. Unfortunately, at times it's hard to agrue with them.....
Turkish private-equity firm interested in SAAB STOCKHOLM -- Brightwell Holdings, a Turkish private-equity firm, said it plans to bid for bankrupt Swedish carmaker Saab Automobile. "We will make a bid very shortly, there's no question," Zamier Ahmed, a board member of the Istanbul-based group, said. Brightwell, which invests in energy, transport and technology, wants to buy all of the Trollhaettan-based carmaker and plans to keep production in Sweden, Ahmed said on Wednesday. His firm is in discussions with the administrators overseeing Saab's bankruptcy as well as with Saab CEO Victor Muller, Ahmed said.
Saab's bankruptcy administrators have said they are evaluating bids for the Swedish brand and aim to make a decision before the summer. The administrators did not disclose who the bidders are after a final deadline for offers passed on Monday. Chinese carmaker Youngman is the only company to publicly register its interest in buying the automaker's estate. Media reports have said that India automaker Mahindra & Mahindra has made an offer and so has a Japanese-Chinese consortium that wants to produce electric vehicles at Saab. Bankruptcy administrator Hans Bergqvist told the Swedish press that all the bidders wants to restart car production at Saab's plant in Trollhatten, Sweden. He said the bids are being evaluated as a base for continued discussions. Bergqvist's law firm Delphi declined to comment on the bids when contacted by Automotive News Europe. Bergqvist reported on Tuesday that Saab has debts of 13 billion kronor ($1.9 billion) and assets of just 3.6 billion kronor. He told Swedish media that he hopes the successful bidder will pay more than the assets are worth. Saab was declared bankrupt in December after rescue efforts by its former owner, Swedish Automobile, failed. Spource: http://www.autonews.com/article/20120411/ANE/120419980#ixzz1rk8Qp62P
A Chinese-controlled consortium has completed a deal to buy the assets of bankrupt Swedish carmaker Saab, media reports said. National Electric Vehicle Sweden (NEVS) will pay 1.5 billion to 1.8 billion kronor ($210 million to $250 million) for Saab, excluding spare parts company Saab Automobile Parts AB, according to reports in Sweden. Read more: http://www.autonews.com/article/20120607/ANE/120609891#ixzz1x7Fw4zuK
TROLLHATTAN, Sweden -- A Chinese-Sweden investment group with Japanese backing has agreed to buy bankrupt automaker Saab Automobile and plans to make electric vehicles, the administrator of the bankruptcy process said today. In a statement, the administrator gave no details on how much the buyer, National Electric Vehicle Sweden AB, was paying for Saab or how much it would invest. "The company will start a new operation in Trollhattan (home to Saab in western Sweden) where all development and production will be focussed on electric cars," the administrators said. The buyer is led by Japanese investment firm Sun Investment and Hong Kong-based renewable-energy powerplant builder National Modern Energy Holdings Ltd. Read more: http://www.autonews.com/article/20120613/COPY01/306139902#ixzz1xg15H6B2
So there GM.... Now your future with "Volt" will be crushed with new electric competition. Not that it would take much to do.....
Report Saab owner may speed up relaunch with gas-powered 9-3 National Electric Vehicle Sweden, the new owner of Saab, has good news for you if you happened to miss out on picking up a 9-3 before the company plummeted through bankruptcy. Automotive News Europe reports NEVS may offer a gasoline-powered 9-3 in 2013. That move would effectively step up the brand's re-launch plan by a full year. Originally, the company planned to introduce an electric vehicle in 2014, but NEVS is currently investigating ways to start production next summer using "a 9-3 with a traditional powertrain" in order to generate more cash for the electrification effort. NEVS purchased Saab earlier this year with the intent of resurrecting the brand with a fully electric product portfolio. The new EVs would theoretically ride on the Saab Phoenix platform and be manufactured at the automaker's plant in Trollhattan, Sweden. The report of a resurrected gasoline model came courtesy of Mikael Oestlund, a company spokesperson familiar with the company's workings. source: Saab owner may speed up relaunch with gas-powered 9-3
NEVS exec discloses more Saab revival details, including electric plans Saab's new owner is maintaining its plans to re-start sales of the brand in 2014, but it's not ruling out an earlier coming-out party. National Electric Vehicle Sweden (NEVS), which acquired the iconic but bankrupt Swedish automaker this summer, is about 18 months away from debuting an all-electric vehicle based on the Saab 9-3 platform, which will start sales in China, the Swadeology blog reported, citing an interview with NEVS' Mikael Östlund. After re-launching the 9-3-derived car as an EV, NEVS will work on finishing development of an electric-powered vehicle on the so-called Phoenix platform. Still, Östlund, who insisted that the 9-3-platformed vehicle would have a redesigned interior and exterior, didn't rule out re-launching the 9-3-derived model in gas-powered form next year in order to bring in some cash flow and ensure that consumers didn't forget about the brand. Additionally, NEVS, which has started talks with a number of former Saab contractors, plans on making the car at the Saab factory in Trollhattan, Sweden, and producing the batteries in China. Either way, the executive said the 9-3 EV will be the "first premium electric vehicle produced in volume." Earlier this month, the Dutch version of Autoweek reported that NEVS may bring back the 9-3 convertible within 18 months, and that the car may be powered by an electric motor. source: NEVS exec discloses more Saab revival details, including electric plans
Having owned a 1968 96, a 1969 96 and a 1977 99 EMS it's real sad to see what has happened to a once great car maker.