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Old 11-24-2009, 03:18 PM
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Saab deal is off - Koenigsegg backs out of deal

Swedish exotic-car maker Koenigsegg Group has canceled plans to buy Saab from General Motors.
GM announced that the deal was off on Tuesday and gave no reason why the deal fell apart, nor did the automaker say what would happen to Saab.
In a statement, GM CEO Fritz Henderson said: "We're obviously very disappointed with the decision to pull out of the Saab purchase. Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB. Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week.
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Old 11-24-2009, 03:39 PM
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Pretty self explanatory...

But don't worry, it will be ear-marked too big to fail again, because of that nice union support


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Old 11-24-2009, 03:56 PM
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Pretty self explanatory...
But don't worry, it will be ear-marked too big to fail again...

that upsets me most.
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Old 11-25-2009, 12:27 AM
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no no no.. it's not Koenigsegg the exotic car maker... It's Koenigsegg group which is a completely separate entity.

Quote:
Originally Posted by Thunder22 View Post
Swedish exotic-car maker Koenigsegg Group has canceled plans to buy Saab from General Motors.
GM announced that the deal was off on Tuesday and gave no reason why the deal fell apart, nor did the automaker say what would happen to Saab.
In a statement, GM CEO Fritz Henderson said: "We're obviously very disappointed with the decision to pull out of the Saab purchase. Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB. Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week.
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Old 11-25-2009, 12:20 PM
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Someone should buy Volvo & Saab and make it one company.
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Old 11-25-2009, 01:06 PM
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Originally Posted by SANguru View Post
no no no.. it's not Koenigsegg the exotic car maker... It's Koenigsegg group which is a completely separate entity.
according to the AP they're related:

Saab likely to close as GM fails to sell car brand - Yahoo! News

Koenigsegg, a tiny company that makes only a dozen high-performance luxury cars a year, was formed in 1994. Its headquarters and factory — which produces cars that cost more than a $1 million each — are at a former air force base in southern Sweden.
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Old 11-25-2009, 03:50 PM
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Someone should buy Volvo & Saab and make it one company.
Hmmm. One is owned by Ford, the other by GM....hmmm.
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Old 11-25-2009, 03:52 PM
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Hmmm. One is owned by Ford, the other by GM....hmmm.
I don't understand why Ford would want to sell Volvo. It's a premium brand for them and if they actually updated their cars once in awhile it wouldn't be so dead from a sales perspective. I mean really, how dated are their cars? XC90, S40, S60 (finally being replaced) etc....
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Old 11-25-2009, 04:11 PM
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Originally Posted by blondboinsd View Post
I don't understand why Ford would want to sell Volvo. It's a premium brand for them and if they actually updated their cars once in awhile it wouldn't be so dead from a sales perspective. I mean really, how dated are their cars? XC90, S40, S60 (finally being replaced) etc....
Ford only bought Volvo for one reason, 5 star safety ratings. Now that all their vehicles have them.....nobody cares about Volvo.
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Old 11-25-2009, 04:17 PM
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Quote:
Originally Posted by blondboinsd View Post
I don't understand why Ford would want to sell Volvo. It's a premium brand for them and if they actually updated their cars once in awhile it wouldn't be so dead from a sales perspective. I mean really, how dated are their cars? XC90, S40, S60 (finally being replaced) etc....

I agree that Ford should keep Volvo however the problem is that Ford does not address the suspension. I had two V70's and the first one was a smaller pre-ford design that handled well. It was a nice car but had issues with emision controls and was in the dealer once a month for this issue. The second one was a Volvo/Ford car it was reliable and trouble free and look nice but it felt big and did not handle well. The current V70 looks even better but lacks handling.
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