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Ogilvie Fleet News & Blog

SAAB confirms plans for new mini rival

Posted on by Matt Topham

Saab has taken another step towards safety with the finalisation of a 245m Euro (£220m) financial rescue package, and has wasted no time in announcing it intends to make three new models.

The most eye-catching of these is a small city car named the 9-1, which will aim to take on the likes of the Mini and the Fiat 500 and boost global sales.

As well as the small city car, Saab also announced plans to create a 9-6X and a 9-7, which it says are aimed at expanding the company's customer base in China and the US.

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SAAB Production set to start again

Posted on by Matt Topham

Saab plans to resume production within a week after its parent company Spyker Cars secured a 30m euro loan from investment fund Gemini.

That came hours before an announcement this morning of more investment, this time from Chinese vehicle manufacturer Hawtai.

It is putting 150m euros into the Swedish brand in exchange for a stake of up to 29.9%. The deal is likely to help Saab's entry into the Chinese car market.

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Saab Production Halted

Posted on by Matt Topham

Spyker says it has halted Saab production due to a short-term liquidity crunch which it must resolve to pay suppliers.

At full capacity, Saab can make about 200 cars a day, but the factory, which employs about 1,200 production workers, has been closed since last week after earlier rolling stoppages.

Reuters reports the company as saying once it has obtained funding to pay outstanding debts with its suppliers, Saab Automobile expects it will be able to resume normal production within a week. Source - AM Online

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