Spyker Finalizes Saab Purchase

It’s official: General Motors has sold Saab. At 10:30 EST this morning, GM and Spyker Cars signed off on the final paperwork that transferred the brand into Spyker’s ownership.

“We are delighted -- Saab’s future is now secure,” said Victor Muller, CEO of Spyker. “From today we will be concentrating all of our efforts into reviving Saab and transforming it into a sustainable and profitable company with the confidence to be bold. We will reinforce the emotional experience between Saab drivers and their cars and we will focus on Saab’s historical strengths in the fields of independent thinking, aircraft heritage, ecological performance, and motorsport.”

“With a well-funded business plan in place we are looking forward to working with Saab’s management on the realization of that plan and bringing exciting new products to our customers. Real Saabs, Saab Saabs,” continued Muller.

While secure may not be the right wording (neither company has turned a profit in some time), at least Saab is no longer on the chopping block. Spyker’s new business plan is focused on turning Saab around, along with eking a profit from its new C8 Aileron model. The Saab purchase also gives Spyker an economy of scale it didn’t have before, and it hopes to use -- along with Saab’s history -- to its advantage.

“This transaction represents the success of months of hard work and intense negotiations, all aimed at securing a sustainable future for this unique brand, and we are pleased with the positive outcome,” said John Smith, GM vice president for corporate planning and alliances. “This is a great day for Saab employees, dealers, and suppliers, and a great day for millions of Saab customers and fans worldwide.”

Although the tough work on the Saab sale is over, Spyker’s hard work to revive the Saab brand has just begun. Now that the deal is secured, the first new product we’ll see is the new 9-5, which was engineered under GM’s auspices but will only now reach production. Sales of the new model are expected to begin later this year.

New Car Research

our instagram

get Automobile Magazine

Subscribe to the magazine and save up to 84% off the newsstand price

subscribe

new cars

Read Related Articles

TO TOP