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Source: Saab  January 26, 2010

GM Reaches Agreement to Sell Saab to Spyker

• GM and Spyker Cars announce a binding agreement over the ownership of Saab
• Terms are agreed and the deal is expected to close in February
• Saab´s future as an independent company is secured
• Saab will exit the orderly wind-down process
Trollhättan. General Motors Company and Spyker Cars NV, led by CEO Victor Muller, today confirmed the details of a binding agreement over the purchase of Saab Automobile AB. The transaction is expected to close in February and Saab Automobile will exit the orderly wind down process in line with that timetable.

Jan Åke Jonsson, CEO of Saab Automobile AB said: “It has been a challenging 12 to 15 months for Saab but our global organization has shown a fighting spirit that will serve us well going forward. The agreement with Spyker Cars has secured Saab´s future and will enable us to maximize the brand´s potential through an exciting new product line-up with a distinctly Saab character." He continued: “Today´s news is great for Saab´s customers, dealers, suppliers and employees around the globe, the level of passion and support shown to Saab over recent months has been remarkable and I would like to take this opportunity to thank all of those people who continued to believe that Saab deserved a future. Now we aim to get back to the execution of our business plan and with the continued support of our employees and business partners I am confident we will succeed."

“As a responsible corporate citizen in Europe, and throughout the entire period, GM has always had the hope to find a positive solution for Saab that would avoid a wind-down of the brand," added Nick Reilly, President GM Europe. “We´ve worked very hard with many parties, including governments and investors, and I´m very pleased that we could come to such good conclusion that preserves jobs in Sweden and elsewhere. GM will continue to support Saab and Spyker Cars on their way forward."

Victor Muller, CEO of Spyker Cars NV said: "Following today's announcements, I can say with confidence that I, along with the team at Saab and Spyker, am looking forward to a bright and exciting future. As we've said from the beginning, Saab is an iconic brand that we will all be proud to shepherd. The actions and enthusiasm we've witnessed from the international Saab community, including employees, dealers and most importantly the owners of the 1.5 million Saabs on the road today underscore that our efforts to bring Saab and Spyker together are well placed. We look forward to providing the financial and entrepreneurial capital required to make Saab a glorious success."

The sale will be subject to customary closing conditions, including receipt of applicable regulatory, governmental and court approvals. Other terms and conditions specific to the sale are not being disclosed at this time. Deutsche Bank acted as financial advisor to General Motors Corporation.

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  1. Stephen KING (AUSTRALIA)
    THANK YOU VICTOR- WE WILL BUY SPYKER SAABS!
    # 1
    January 26, 2010
  2. Saab 9-3 05
    Best accomplishment that GM has made by selling the saab to spyker.
    Now i am happy and do not have to worry about my saab. :D

    "Born from Jets" !!
    # 2
    January 26, 2010
  3. Saab 9-3 05
    Best accomplishment that GM has made by selling the saab to spyker.
    Now i am happy and do not have to worry about my saab. :D

    "Born from Jets" !!
    # 3
    January 26, 2010
  4. Lee
    Congratulations to Mr. Muller, Mr. Jonsson, and the dedicated SAAB workforce in Trollhättan. Thank you for your perseverance and dilligence! We look forward to a future with Saab.
    # 4
    January 26, 2010
  5. Johan Wallander
    Congratulations!
    # 5
    January 26, 2010
  6. Austin
    thank goodness for sypker. saab is saved!
    # 6
    January 26, 2010
  7. federico christofol in spain
    Gracias a Spyker. Gracias, También a GM. La marca sueca SAAB significa para muchos usuarios y trabajadores, mucho mas que el dinero negociado. Continúa SAAB. ES LO IMPORTANTE.
    Gracias y bien por el acuerdo con Spyker.
    Seguro que sabrá defender y revivir SAAb
    # 7
    January 26, 2010
  8. ARUK
    Go JÅJ Go!

    Go Saab Go!

    Go Sweden Go!

    Go Victor Go!

    Go Spyker Go!

    Go Netherlands Go!
    # 8
    January 26, 2010
  9. nevitz
    SAAB SAVED!
    # 9
    January 26, 2010
  10. Grateful Saab Fan
    Wonderful news, I was hoping someone would step up to save an automaker with such a rich and innovative history.

    Hopefully Spyker can undo much of the damage caused by the previous short sighted owner who almost destroyed Saab.

    Great news, beautiful news!!!
    # 10
    January 26, 2010
  11. John R
    Great News..
    As a 20 year Saab fan and driver who left Europe to retire in Australia and joined the Toyota 4WD barbarians... I cannot wait to soon return to Europe and once again buy a Saab.
    PS : Not too sorry about Volvo althought their designs had improved in the last few years.
    # 11
    January 26, 2010
  12. Rob W
    Congratulations! This is amazing news and I am so excited that I will be able to buy that new SAAB convertible!
    # 12
    January 26, 2010
  13. L. Barrett
    Hooray!! I couldn't imagine driving anything else! What a relief!!
    # 13
    January 26, 2010
  14. ryan
    SAAB, we LOVE YOU!!! No other little car company in the World could ever create the passion that you have. LONG LIVE SAAB!!! God bless Trollhattan.
    # 14
    January 26, 2010
  15. Luciano Dias
    Now start immediatly to built the elektro sonett!!!
    # 15
    January 26, 2010
  16. Jordi
    Great to see Saab on the road again and for a long time! I hope it's the begginning of a great story for both.
    Congratulations for all the workwrs at Saab and their families, who suffered this situation for too long.
    So enjoy Saab!
    # 16
    January 26, 2010
  17. Jordi
    Great to see Saab on the road again and for a long time! I hope it's the begginning of a great story for both.
    Congratulations for all the workwrs at Saab and their families, who suffered this situation for too long.
    So enjoy Saab!
    # 17
    January 26, 2010
  18. Andrew / Saint Petersburg
    Laus Deo!
    Nobody could understand us, who didn't omit any news in order to see any signs of progress in SAAB destiny for that long-long time.
    Let us hope that deal will be completed in good time and further we will never be faced with so hard time what we've survived now!
    # 19
    January 26, 2010
  19. Bert Lugtmeier
    Gefeliciteerd!! Geweldig voor alle betrokkenen (dealers, werknemers etc.). Wij zullen SAAB blijven rijden.
    # 20
    January 26, 2010
  20. Christopher P
    Congratulations! This is Outstanding! 14 years a 900S owner, now I can think about another SAAB after another 100K miles more or so. We will buy SPYKER SAABs.
    # 21
    January 26, 2010
  21. Alberto B.
    That's a great news for the brand and future of all involved employees! Now up to the new Team to avoid doing same mistakes as in the past! Doing specific designs, friendly environmental engines, performances... is not enough. All brands beating on same arguments. I truelly believe the team will find some specific to Saab which will makes things different at an affoardable cost-price to garantuee above all a profitable company! Good luck to all of you!
    # 22
    January 26, 2010
  22. Roland Rossberg, Vienna
    THANK YOU EVER SO MUCH, Victor and SPYKER!
    I am sure that the combination of innovative SAAB cars and desirable SPYKER super cars will foster the success of this new enterprise for a better future!
    # 23
    January 26, 2010
  23. Nicholas Smith
    THANK YOU TO SPYKER AND THE GOVERNMENT OF SWEDEN FOR SAVING SAAB!!!! I swore I would never buy another GM in my life if SAAB were killed, so thank you GM for not destroying my favorite brand.
    # 24
    January 26, 2010
  24. Martin Weiss, Norway
    Very good news. I am especially happy for all the hard working people in Trollhättan. Now for a new, exciting period in SAAB's proud history.
    # 26
    January 27, 2010
  25. Ane Heidema
    Guys, you rock. Thanks for saving the best car maker in the world. I won't have to worry what my next car will be. SAAB forever.
    # 27
    January 27, 2010
  26. A J Christopher
    Outstanding news!
    # 28
    January 27, 2010
  27. Karolin
    This is GREAT!
    # 29
    January 27, 2010
  28. Tim Jones
    Well Done Spyker and Good Luck. Perhaps we may now have the opportunity of purchasing the long awaited 95 replacement.
    # 30
    January 27, 2010
  29. Henry B.
    As a 10yrs Saab 9000 enthusiast owner I sweared I'd buy only SAABs for a life long ...and I'm terribly glad that I will be able to mantain that proposition. Thanks to Saab workers and engineers for doing so good and dependable cars and best whishes for a bright future.
    PS SPYKER guys thanks for your long term support for the Saab ideals: try to keep the cars excellent value for money! we enthusiasts love saabs for quality innovation and technical excellence ...but not always are enough rich for luxury cars!! :-)
    # 31
    January 27, 2010
  30. Jan G
    Great ! Next step is to change my Volvo S80 to a Saab 9-5.
    # 32
    January 27, 2010
  31. Justyn
    Thank You for all , JAJ
    and thank You for all, VM
    and thank You - all people on SAAB.
    Saab Up
    # 33
    January 27, 2010
  32. Edwin Strik - Tokyo
    Everybody at SAAB can feel very fortunate that the big unfriendly giant that for well over two decades did its absolute best to rid these incredibly innovative and persistent carmakers from all their originality and to transform them into yet more narrow minded and conformist pulp. I think Spyker and SAAB share a lot of passion for creating cars outside of the mainstream box, instead offering two things remarkably simple; Ingenuity and Engagement. All I am asking for in my car.
    # 34
    January 27, 2010
  33. Christer Lindqvist
    Kan inte Spyker köpa SIMCA också,
    mina bästa bilar.
    # 35
    January 27, 2010
  34. Colin Hynd
    I am so pleased that so many jobs have now been saved as a result of this decision. It is important that Spyker focus their strategy on building innovative, drivers cars with shorter product lifecycles. There is the need for investment in modular production technologies and identifying suitable strategic alliances in order that Saab can be at the forefront of the premium marketplace well into this century.
    # 36
    January 27, 2010
  35. Anthony S.
    The best news in years! The best way to save SAAB now is to buy a new SAAB!
    # 37
    January 27, 2010
  36. Justyn
    Thank You for all , JAJ
    and thank You for all, VM
    and thank You - all people on SAAB.
    Saab Up
    # 38
    January 27, 2010
  37. James J. Doyle
    Congratulations ! As the happy owner of my 8th. SAAB in a row, I welcome this outcome. I've been driven around in the new 9-5 in Brussels last week. It's a winner ! Keep up the good work and the future will be bright. I do hope we'll soon see new SAABs with their distinguishable "difference" !
    # 39
    January 27, 2010
  38. Ian Lucraft
    This is fabulous news.

    I bought a new SAAB this week, because I couldn't imagine not having one over the next five years, (and because I got it at a great price, which understates its true quality). It will be my 9th SAAB over a lifetime of really happy motoring.

    Please Spyker read the history and produce great SAABs for the future.

    Here's to a European car-making company delivering a world-class product. You have a great fan base out here.

    Ian
    # 40
    January 27, 2010
  39. Lieven Ailliet
    Veel geluk aan het nieuwe SAAB.
    Ik sta te popelen om mijn vijfde SAAB te kopen.
    Mijnheer Muller maak er iets prachtigs van
    # 41
    January 27, 2010
  40. Howard J Smith, Norfolk, UK.
    We must hope that this euphoria isn't premature, Saab-Spyker are facing some ruthless and radical decisions in the near future, not the least to get back into the black. Sales of new vehicles must be greatly improved and the Saab image restored, (this has seriously deteriorated since the GM decision), overheads must be slashed drastically and a dedicated Saab-Spyker sales network set up, away from those existing GM/Vauxhall/Saab outlets. Remember, the new company is SAAB- Spyker!

    The company has, for its size, a good model range to capitalize on, so the future IS Saab shape.

    Safe Saabing!
    # 42
    January 27, 2010
  41. Lisa - AZ, US
    Cheers to Saab and Spyker! And all the best to all parties involved for a bright and prosperous future for the continuation of such a unique and cherished brand! As an owner for over 11 years I can't see driving anything else. Hopes for Saab/Spyker to rekindle the Swedish philosophy of safety, engineering, design, and performance that makes Saab so great.
    # 43
    January 27, 2010
  42. Øystein Olsen
    Gratulerer Trollhättan, Gratulerer Sverige, Gratulerer Nederland!
    Inovative miljøer slåes sammen! Dette blir bra!
    Og til SAABentusiaster som meg selv verden over: GRATULERER!!!
    # 45
    January 27, 2010
  43. James Kanter
    Saab Lives! Thanks to Spyker. God Bless you all as you continue to work hard towards success. Dreams come true.

    I will go celebrate at lunch dropping by dropping the top on my 9-3 Aero Convertible that I love so much.
    # 49
    January 27, 2010
  44. Earl USA
    GREAT NEWS!
    My Wife & I love our Saabs She has the 95 and I have 93 aero convertible. Now we can continue to enjoy our Saabs and look forward to our next Saab.
    # 51
    January 27, 2010
  45. AEK_SAAB
    THANKS YOU SPYKER FOR SAVE SAAB . I HOPE SPYKER AND SAAB WILL BE GROWTH UP IN THE MARKET AROUND THE WORLD CAR MARKET.
    THIS IS FROM AEK_SAAB SAAB THAI USER . I LOVE SAAB. THANKS YOU VERY MUCH SPYKER .
    # 52
    January 27, 2010
  46. Kristian P
    This has truly been a dramatic journey and as a Saab owner I am so pleased that Saab survives. Congrats to all and big honours to all the fans that really pushed this forward!

    My humble wish is that Saab will also remember to pursue a democratic design so that more people around the globe will be able to afford one of their great cars. You've done it before with the 900 series and I am confident you can again.

    Kristian
    # 53
    January 27, 2010
  47. Lasse

    GO Saab GO !!!

    Thanks to all people involved in working towaqrds this positive outcome!

    JAJ, VM and the Saab team: You have done the impossible possible. JAJ, you clearly have to get a price as the manager of the year! VM, without your passion and persistence it would not have been possible to save Saab. The Saab team: You are so fantastic people, you have all the time been increadibly loyal and engaged fighters for your company and the great products you deliver.

    We customers and fans with our voice could only give you a little bit of support in your fight for Saab. You are the people who really made this victory true. I salute you!


    # 54
    January 27, 2010
  48. Mike, Sweden
    WONDERFUL, now get to work! Make then new 9-5 and the 9-1 and, and... keep making great, fun, innovative cars. GO GO GO!
    And here's a new motto: "My car loves ME!"
    # 55
    January 28, 2010
  49. Michael J. Scotland
    This is great news, not just for us Saab fans, but the staff and the team who have pulled this together. Well done. Here is to a hugely successfull future.
    Nothing on earth comes close........
    # 61
    January 28, 2010
  50. Frank, Denmark
    This is a very positive thing, GM has done nothing for Saab in the years they have the brand Saab, so for Saab lovers this is a good thing, good luck!
    # 62
    January 28, 2010
  51. Nick, Australia
    This is absolutely sensational news to everyone in the world. In my mind, this shows a turning point in the automotive industry. Americans can't dominate the market and slowly bleed their international brands to death, rather Spyker and Saab are showing the world that passion and independent motoring is still possible.
    Thank-you.
    # 63
    January 28, 2010
  52. James
    Thank God that Saab will survive. It's a carmaker that has designed and produced some of the best cars on the road. I'm also glad that it's out from under General Motors, which has had ruinous leadership for the past 30 years!
    # 64
    January 29, 2010
  53. Ruben
    Congratulations to Saab and Spyker! I have never owned a Saab (have looked at Saabs for some time as my new car but finally decided to stick with Chrysler) but I have always appreciated the cars in their designs and image. I am glad that in the future I will still have the choice to buy a Saab.
    # 65
    January 29, 2010
  54. Lorenzo Switzerland
    A very good news, for a SAAB owner since 25 years.
    # 66
    January 29, 2010
  55. Northeast-Saab-Guy
    I've had 2 Saabs: an 86 900 that I drove 197K miles. I nearly cried when I sold it, and I still miss the sound it made as I was going through the gears. It was years before I came to like my 9-5 Aero as much.

    In the depths of the bad news about the imminent extinction of Saab, I test-drove a BMW 5. To my immense shock, the Bimmer drove about the same, but had less character. My 9-5 has 60K on it, is tight and rattle free. The handling characteristics were nearly indistinguishable between the 2 but the 9-5, even in spite of what GM did to the car, still had more heart and soul. It also was just as fast, just as agile, and all this with getting WAAY better mileage.

    After the BMW test drive, I decided I would get more satisfaction from taking my 9-5 to a good body shop, having the parking lot dings fixed up, and a thoroughly detailing.

    So I found myself asking, why has the 9-5 been pilloried as old, has-been technology while BMW can seem to do no wrong? As far as I can tell, alot of those "reviews" were written by people who have never driven both cars on the same day.

    There is a big time marketing and perception issue here. GM did a real number on the self-confidence of the Saab organization by allowing these perceptions to go unchallenged. It is a tribute to us 20+ year customers and the dedication of the Saab organization that got Saab this far. I think that Spyker should spare no expense in turning that perception around.

    Saabs are popular around here. The best way to rekindle the excitement is for people to start seeing the new 9-5, 9-4 on the road.

    Saab can distinguish itself another way. As a pioneer in engine technology ie turbo-charging, would it not make sense for Saab to reclaim its traditional thought leadership in advanced engine technology by prominently featuring the new technology (at least to the USA) low-sulphur fuel, turbo-charged common rail diesels as an advanced environmentally sound propulsion solution?

    The engine is already designed and planned for the 9-5 in Europe, why not make it available here? I think that would appeal to the forward-thinking, environmentally conscious buyer that Saab has always done so well with (or at least until GM eviscerated it).

    I think the time is right for diesels in this country. I think Saab has a chance to show the courage that other makers lack, and show this market that they ain't your father's diesels any more. The Saab name still rings as the company not afraid to produce innovative cars. When Saab is allowed to follow their own star, dramatic things can result, as anyone who experienced the original 900 will attest.Those cars have cult status around here,at least.
    # 67
    January 29, 2010
  56. Lars
    Takk!
    Vi kjøpte vår føste saab i nov 2009. Var redd for at det skulle bli den siste. Men nei. Saab er reddet. Takk Spyker.. Nå står det en Volvo og en Saab i garasjen og det blir flere saab biler senere og.
    # 70
    January 29, 2010
  57. Mark
    Wow, I must be the only lunatic leaving a negative message on this news. I bought a 9-3 a few months ago and here I sit waiting over 1 month for a warranty part which is backordered with no estimated delivery date. Now GM screws another Amercian taxpayer again by selling Saab to a virtually unknown carmaker that builds a few cars by hand every year...with no experience supporting a mass market vehicle. I might have well as bought a Yugo.
    # 71
    January 29, 2010
  58. Erik
    Thank you GM for selling SAAB to Spyker- You did the most honorable thing-When we need trucks we will buy from GM- When I need another SAAB I will buy from Spyker/SAAB Thank you again!
    GOOD LUCK to both of you!
    # 72
    January 30, 2010
  59. Mick
    Brilliant news, driving my first new Saab 9-5 and now expect to drive many more.
    Very grateful to Spyker for making this possible.
    Best wishes to all at Saab for a bright future.
    # 73
    January 30, 2010
  60. Robert B.
    My wife and I are thrilled with the news and look forward to adding a new 9-5 to our existing cars. My current SAAB is the best overall vehicle I have ever owned. I am very happy that I can continue owning a truely unique and well thought out economical and safe vehicle. Congratulations to all at SAAB. Yours truely, a loyal SAAB customer.
    # 74
    January 31, 2010
  61. Patricia Martínez
    Felicidades por el acuerdo Spyker,GM y Saab.Soy propietaria original de un 9-3 año 2003. Una oportunidad de mejorar varias cosas. i Think Saab!
    # 75
    January 31, 2010
  62. URS Dieter Zimmermann, Switzerland
    May all the Saab people be blessed. May the brand find its true values and unfold its full potential - by creating the kind of cars, that conscious customers are waiting for for so long. Stunning Saab cars - including ZERO-percent pollution! Courage, Innovation and Radical Change is the key. Best wishes.
    # 76
    January 31, 2010
  63. Efigenio
    Congratulations from Madrid-Spain!!. Let´s continue beeing saabist (so, different) for many, many years......
    # 77
    February 2, 2010
  64. Guy Schiltz
    NULLA TENACI INVIA EST VIA.
    Dear Mr. Muller, Dear Mr. Jonsson
    First of all congratulations to the deal with GM for buying SAAB.
    The design from Spyker cars being heavily influenced by airplanes and you can also find this philosophy in SAAB cars as well the ultimate statement of individuality.
    I find a lot of other similarities between Spyker and SAAB and I feel confident for the future.
    Together with Spyker I can see today SAAB in a good market position to the concurrence.
    GM had an obstructed forward view and forgot to move their mind.
    I drive SAAB since 1975.
    At the moment I drive a 9-3 AERO V6 which is a fantastic engine as well as a great car (it’s my 12th SAAB).
    I’m looking for a new 9-3 AERO V6 X and I hope you'll back my plan.
    I sincerely hope that I can enjoy the result of SAAB SPYKER AUTOMOBILES N.V. for a long and a promising future.
    Thank you and best regards.
    # 79
    February 3, 2010
  65. Javier
    Muy buenas a todos he de decir q soy cliente de Saab desde hace5 años.Me enamore de la marca Saab desde el mismo momento en q vi el 9-3 en el confeccionario q compartia con opel yo iva expresamente a ver el nuevo Opel veztra,luego pensaba ir aver tanto Audi como BMV pero no tuve ojos nada mas q para Saab acababan de exponer por primera vez un Saab en la provincia de Huelva ahun permanecia mojado por el lavado q acababan de darle me produjo ese cosquilleo igual q cundo uno se enamora, quede prendido por el por eso hice q me vendieran el q estava expuesto al publico pq queria tenerlo,sentirlo,olerlo,acariciarlo...
    Por ello tengo el lujo de ser el primer cliente Saab de mi provincia y pueden estar seguros de q sere un cliente fijo pq esta maravillosa maraca tiene algo extraordinario q cunto mas tiempo pasas con un Saab mas te gusta por eso cuando supe de su cierre me entristecio mucho y senti mucha pena ya q no podria volver a tener esa sensacion de conducir un nuevo Saab y de pronto un milagro, Saab vuelve a resurguir de sus cenisas como buen Fenix q es y su escudo lo demuestra.Muchisimas gracias Spyker por dejar q mi ilusion sobreviva es un placer pertenecer a tu clientela.Mil gracias.Spyker es el nuevo Fenix
    # 80
    February 5, 2010
  66. Kelly S.
    Thank God- I don't know what I would have bought. Have only owned Saabs - current is 11 years old- should last a while but I can't imagine having to drive anything else. Thank you Mr. Muller!
    # 82
    February 16, 2010
  67. JS Brown
    Just for a minute I thought that the Swedish Government were going to stand by and watch another iconic brand and its workers and their skills go down the toilet. Just like the British Government stood by and watched its home grown car Industry go. However their seems to be a glimmer of realism from the people that run Sweden, I hope they are not faint hearted as turning Saab around will not stop at the $450 million so far pledged. Good luck to Spyker and to the workforce, I wish you every success.

    Jim- Kent
    # 83
    February 16, 2010
  68. BK
    I am glad to read all of the positive comments about Saab. I just purchased a new 2009 93 convertible in NJ. I have been really excited about picking up the vehicle, until I just read Consumer Report's rating for this car as unreliable. Now I am very concerned since I already paid for the vehicle. Should I be worried?
    # 84
    February 16, 2010
  69. José Tomás
    Gracias a Spyker puedo dormir tranquilo, ya no sólo por el cierre de la fábrica, sino por pensar que desaparecería esta gran marca, que me tiene enamorado desde hace mucho tiempo. GRACIAS
    # 85
    February 16, 2010
  70. Gary Liu
    ALL THE BEST TO SAAB!!!
    # 86
    February 18, 2010
  71. Allen
    Congratulations to Spyker. As an long time SAAB owner (first one 1970 96) I am relived that SAAB will be in good hands again. Go SAAB Go Spyker!
    # 87
    February 19, 2010
  72. Allen
    Congratulations to Spyker. As an long time SAAB owner (first one 1970 96) I am relived that SAAB will be in good hands again. Go SAAB Go Spyker!
    # 88
    February 19, 2010
  73. Syed Feizal
    Great News!!! As an owner of 2 SAABs and a fan, I can't ask for a better outcome for SAAB. Looking forward to SAAB sans GM and kudos to everyone who stuck by SAAB.

    Feizal in Malaysia.
    # 89
    February 22, 2010
  74. Fabioi
    Having owned a 9000 turbo and experienced the thrill of it's accellaration. I bought a 9 3. I thought I had left my run too late. Having just found my true car, I heard of the supposed demise of the company. Now the good news. I can now look forward to more. Bring on the toys. I like to spoil myself. Next best thing to flying a jet! P.S. Parts are readily available from U. K. I live in Australia.
    # 90
    February 23, 2010
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