BREAKING: Koenigsegg Backs Out Of SAAB Purchase

Didnt Penske back out of the Saturn deal too? I saw this coming! I bet you Hummer is next...

Story going around on the Penske/Saturn deal was that Penske was going to re-brand other makers cars as Saturns.
Penske first approached PSA Peugeot Citroën, but that deal died a quick death...
For all of PSA's desire to be a major player in North America(plans on hold for a plant in Mexico..land purchased, plans drawn) they are afraid of a further downturn in the world market...didn't think they could make the financial commitment...thought that could be worked out with money from the Mexican and U.S Governments..Then someone in Washington D.C. head EXPLODED..because PSA has a joint venture in Iran (Iran Khodro)

Then Penske approached Carlos Ghosn,CEO of Renault/Nissan...Penske thought he had a deal to sell Re-badged Renaults and Samsung ...but after agreeing to the deal...Ghosn never took the agreement to the Board of Directors....Ghosn was just "stringing Penske along" Ghosn has been quoted privately as why would they want to help Penske build a dealer network in competition with Nissan anyway?

"The Captain" may not be as smart as we think...but you can't blame him for trying

Too bad for SAAB. If there is one company that impresses me with their sports cars it is Koenigsegg. They are real monsters on the road.

That probably marks the end of Saab

+1

good riddance, what really do they have to offer in 2010?

Probably more than any comments made by posters with the word "truth" as part of their nicknames.

thetruth01

You could have said a similar thing about Jaguar a few years back before TATA bought them. Look at their cars now, amazing and better than anything they have ever produced in the past.

What i'm trying to say is that you can't really predict what will happen.

I personally was quite excited about what SAAB could produce based on their Aero-X concept a few years back.

Watch Ya Mouth MSP6...

What must have happened is that Koenigsegg's Chinese Partner must have walked...

Koenigsegg had problems arranging financing for the deal...they could raise the money to BUY SAAB...but not enough for operating capital to run SAAB.

Damn, that sucks! As a car enthusiast, the demise of any car company saddens me.

I deboosted you for talking about yourself in your own post like you are some kind of big shot in the business. How much of douche must you be to do that?

Dude be real here, cheaper doesn't make something more luxurious. Also Subaru is different than SAAB not better. SAAB is different and quirky while being highly styled. Subaru delivers the goods and has a strong racing heritage.

The two couldn't be more different.

Its all about Karma... GM pulls out of the Opel Sale... Koenigsegg pulls out of the SAAB sale... What goes around comes back around to bite you in the arse sometimes...

Koenigsegg probably had some kind of agreement with Magna with regards to the supply of parts for the Saab Vehicles.

Current Saabs are basically Reskinned Opel Vectras, Now replaced by insignias.

No they aren't. The SAAB 9-5 is older than pretty much any other car in production (Crown Vic excluded). The 9-4 is new and the 9-3 is an epsilon car but with many changes (enough so no other epsilon could be built on the same line, this pissed off GM brass when they were planning the G6 convertible).