Saab dealers in the United States are running out of inventory as the Swedish brand cuts production to save cash and prepare for its first new model in seven years.

“We have about 10 Saabs left, and they won’t last long,” said Ivan Goodwin, sales manager at Jim Ellis Saab in Atlanta. “It’s going to be a big problem, but there is nothing we can do about it.”

General Motors, which preparing to sell Saab to Koenigsegg, has slowed down assembly of current models to retool its Swedish factory to build the new 9-5 sedan. It was announced last week that Koenigsegg will reject 81 of the brand’s U.S. dealerships. That will leave Saab with 137 dealers in the United States.

- By: Stephen Calogera

Source: Bloomberg

When Saab is sold to Koenigsegg later this month, the new owner will reject 81 of the brand’s U.S. dealerships, General Motors Company said today. GM sent out a letter to dealers today that said Koenigsegg selected the surviving stores and that the Saab brand will become a new entity, Saab Cars North America Inc.

COO of Saab Cars North America in Detroit, Mike Colleran, said that the target close date for the sale of Saab is November 30, reports Automotive News.

“SCNA did make its selection of (go-forward) dealers based on our business plan and the needs of that plan,” Colleran said. “Essentially, we’re looking for strong dealers who have good profitability and good throughput.”

GM spokeswoman Ryndee Carney said that Saab will have 137 U.S. dealers after the sale.

- By: Omar Rana

According to Saab’s Director of Global Operations Knut Simonsson, the Swedish automaker is working on a new concept car that will hint at a future small model for the brand.

“It’s going to be very important and will indicate what the Saab message is going to be,” Simonsson said.

The concept will make its debut within the next 12 months and will take Saab into a segment that it is not currently present in.  The model would fit below the 9-3.

Even after you see the concept within the next 12 months, don’t expect to see a compact Saab on the roads anytime soon. The company is still regrouping as it joins Koenigsegg and breaks away from General Motors. More important right now are the replacements for the 9-3 and the 9-5.

- By: Kap Shah

Source: Inside Line

During a live chat session with General Motors Company’s CEO Fritz Henderson last week on GM’s FastLane Blog, the head of the Detroit automaker was asked what cars he has in his garage right now.

Fritz replied that he owns a “Camaro, my 2005 corvette and a Saab 9-3 Aero Convertible.” Henderson did not specify which Camaro (V6, or the V8 SS) he owns, neither did he tell us what’s under the hood of his Corvette.

Either way, we just thought you guys would like to know.

- By: Kap Shah

Source: GM FastLane Blog

Swedish automaker Koenigsegg has secured what it needs to make Saab an all Sweden affair once again, courtesy of the Swedish government. The government of Sweden has guaranteed a $600 million dollar loan from the European Investment Bank, which is scheduled to make a final decision regarding the loan by the 21st of October.

A preliminary agreement reached in June, set forth the plan to to purchase Saab from GM, contingent upon the EIB loan. Under the terms of the agreement, GM will continue to feed parts and technology to Saab. Also part of the agreement is a proposed partnership between Koenigsegg and China’s state-owned Beijing Auto that would give the Chinese company a minority interest in Koenigsegg. Beijing Auto is partnered in China with Hyundai and Daimler.

Beijing Auto has proposed to build Saab vehicles in China and and expressed interest in acquiring GM technology for its own vehicles. In the past, Beijing Auto tried to acquire Opel from GM, and Volvo from Ford.

- By: Stephen Calogera

Source: Inside Line

- Key Competitors: Volvo S80, Acura TL, Cadillac STS.
- Engine: 2.0L 4-cylinder turbo diesel rated at 160-hp; 2.0L 4-cylinder turbo gasoline rated at 220-hp; 2.8L V6 turbo gasoline rated at 300-hp/295 lb-ft of torque.
- Transmission: 6-speed automatic.
- Fuel-Economy: TBA.
- Pricing: TBA. Will go on sale in 2010.

The new 2010 Saab 9-5 is here and is ready to go on sale next year. Saab says that the new 9-5 sedan will play an important role in a line of future products that Koenigsegg plans to announce once it takes full control of the brand.

“This car is the start of a new era for our brand,” says Jan- Åke Jonsson, Saab Automobile’s Managing Director.

Besides the engine lineup mentioned above, Saab will offer a 1.6L turbo gasoline engine making 180-hp and a 2.0L BioPower E85 engine shortly after launch. A hybrid version of the 9-5 sedan is also said to be in the works.

Make the leap for the high-res image gallery.

2009 Frankfurt: 2010 Saab 9-5:

2010 Saab 9-5:

- By: Omar Rana

According to a report by AutoCar, Saab is already working on a hybrid version of the new 9-5 sedan. The hybrid version will use a small petrol engine backed up by an electric motor in an effort to increase fuel-economy and cut emissions.

Saab is working on a new 120-hp turbocharged 1.4L gasoline engine that will be assisted during periods of acceleration by an electric motor fitted in between it and the transmission. AutoCar says that the electric motor will offer high levels of torque and will come on when the driver is accelerating.

The new 2010 Saab 9-5 will make its world debut at the 2009 Frankfurt Motor Show next week. It will go on sale in early 2010. Pricing and availability details will be announced closer to launch date.

2010 Saab 9-5:

- By: Kap Shah

Source: AutoCar

Just last month, Koenigsegg Group AB and General Motors Company signed a stock purchase agreement will give Koenigsegg 100 percent control of Saab. Koenigsegg announced today that China’s Beijing Automotive Industry Holdings Co. (BAIC) has signed a deal to take a stake in Koenigsegg to help finance the bid to take over Saab from GM.

“Under the terms of the MOU, BAIC would become a non-controlling minority shareholder in Koenigsegg Group. Koenigsegg Group will own 100 per cent of SAAB Automobile AB,” Koenigsegg said in a statement. ”The intention is to conclude an agreement later this year.”

“This is an important step on the road toward a new Saab. We have a well prepared business plan, an important partnership and we are ready to proceed without state financing,” Koenigsegg CEO Christian von Koenigsegg said.

The investment will also help “explore growth opportunities in the Chinese and international markets for the products of Saab.”

- By: Omar Rana

Just last week, General Motors released a statement that it has reached a deal with Koenigsegg that will give the small Swedish supercar maker 100 percent control of Saab after “closing conditions” are agreed upon. The new 9-5 will play an important role in a product offensive that Koenigsegg plans to announce once its purchases the brand.

“This car is the start of a new era for our brand,” says Jan- Åke Jonsson, Saab Automobile’s Managing Director.

As you can see from the pictures, design for the new Saab 9-5 sedan was inspired by the award-winning Aero X concept car. Saab says that the all-turbo powertrain line-up is the broadest it has ever offered. At launch, the new 2010 Saab 9-5 will be available with a 2.oL 4-cylinder turbo diesel engine making 160-hp and a 2.0L 4-cylinder turbo gasoline engine making 220-hp. The top of the line 2.8L V6 turbo engine will make 300-hp with a maximum torque of 295 lb-ft. It will be offered exclusively with Saab XWD (all-wheel-drive). Shortly after launch, Saab will offer a 1.6L turbo gasoline engine making 180-hp and a 2.0L BioPower E85 engine. All engines will be mated to 6-speed transmission.

The 2010 Saab 9-5 will make its public debut at the 2009 Frankfurt Motor Show next month and will go on sale in 2010.

Click through for the high-res image gallery and the press release.

2010 Saab 9-5:

Press Release:

All-New Saab 9-5 Saloon Scandinavian Design Purity with Advanced Technology

* All-new premium saloon embodies a new era for Saab
* Scandinavian design inspired by the Aero X and Saab’s rich heritage
* Engineered with driver focus for a sporty driving experience
* Excels in responsible performance with emphasis on safety and environmental concern
* Most technically advanced Saab ever with an array of ‘high-tech’ features
* Public debut at the 2009 Frankfurt International Motor Show

Sleek, sophisticated and unmistakably Saab, the all-new 9-5 saloon signals the dawn of a new era for the Saab brand. With progressive, confident styling and advanced technology, Saab’s distinctive new flagship will bring a fresh, alternative choice to the premium saloon segment when it goes on sale in 2010.

The clean, sculpted shape embraces the purity of Scandinavian design, and its dramatic wraparound window graphic echoes Saab’s aviation heritage. With styling inspired by the award-winning Aero X concept car and a muscular, low-slung stance, the new 9-5 heralds the introduction of a bold and expressive design language.

The array of high-tech features on offer includes: an aircraft-inspired head-up information display
(HUD); adaptive headlights (Bi-Xenon Smart Beam); adaptive cruise control; Saab DriveSense adaptive chassis with real-time damping control; keyless entry and starting; dual-zone climate control; dynamic parking assistance, and Saab XWD with eLSD: the industry-leading all-wheel-drive system.

The all-turbo powertrain line-up is the broadest ever offered by Saab, carrying forward Saab’s rightsizing engine strategy focusing on responsible performance through the development of highly efficient four cylinder turbo engines. There is a choice of three fuels – petrol, diesel and E85 bioethanol – and with diesel power, the new 9-5 offers CO2 emissions as low as 139 g/km.

“This car is the start of a new era for our brand,” says Jan- Åke Jonsson, Saab Automobile’s Managing Director. “We have created an advanced and very distinctive product by leveraging the power of our roots in key areas, such as progressive Scandinavian design, sporty driving and responsible performance. The new 9-5 delivers in all these respects, as will every future product from Saab.”

Scandinavian Design

‘Forward-looking design that doesn’t ignore where it’s coming from,’ sums up the visual appeal of the all-new Saab 9-5 saloon. “We are giving a fresh, very modern expression to some of our classic brand design cues,” says Simon Padian, Saab Brand Design Chief. “We have visual themes found in our recent concept cars, such as the Aero X, which are inspired by Scandinavian design and our brand’s aircraft heritage.”

The face of the new 9-5 is defined by a deep grille flanked with curving, ice-block headlamp units. The entire glasshouse is presented as a ‘wraparound’ mono graphic: the disguised windshield and side pillars giving the cabin Saab’s signature cockpit look. In this interplay of proportions, the windshield and roof are reminiscent of the classic 900 model.

Viewed from any angle, the all-new 9-5 cuts a strong and powerful stance. The ‘organic sculpture’ of the low-slung body blends clean, uncluttered lines with natural, curvaceous shapes. Brand design cues are evident in the ‘hockey stick’ belt-line, the strong rear C-pillars and the fuselage-smooth surfacing of the bodywork. The large Saab logo embossed in the centre of the grille characterises the assertive, self-confident design language.

The car’s dynamic character is emphasized by a falling roof-line that culminates in sweeping rear pillars that buttress a slightly recessed rear screen. Bumpers that are subtly flared to blend into the wheels convey latent energy. Below that smooth, flat rear deck, a full-width, ice-block rear light bar wraps into signature lighting.

The new 9-5’s overall proportions stretch the traditional three-box saloon silhouette, while avoiding the fastback cliché of a four-door coupé look.

Driver-focused cabin

Inside the spacious cabin, simple forms define the architecture and echo the design purity of the exterior. Compared to its predecessor, legroom and shoulder width are increased both front and rear, with class-leading rear legroom. The choice of materials, the fit and finish and the tactile quality of the controls all reflect the new 9-5’s premium character.

The driver-focused cockpit is traditional Saab, but its execution is pioneering. The deep centre console sweeps up at a shallow angle around the driver into the main instrument display, which is topped by a neat ventilation zone. Deeply recessed main dials include a rolling ‘altimeter’ speed read-out, a reference to Saab’s aviation heritage from the Aero X concept. Driver displays, including the optional head-up display (HUD) in the windscreen, are illuminated in signature Saab green and have a crisp, floating appearance. The car’s ignition, now a start/stop button, remains between the front seats, next to the gear shift.

Infotainment choices include a top-of-the-line Harman Kardon 5.1 channel surround sound audio system and an 8-inch colour touch screen navigation system with hard disk storage for map data and 10GB for MP3 music files. A large centre console provides storage and connections for several portable devices through USB and 3.5mm AUX ports alongside a 12V power outlet.

Rear passengers can even access their own audio or watch a DVD. The rear seat entertainment unit in the back of the centre console accommodates audio controls and folding viewing screens are installed in the backs of the front seats. Wireless headphones are provided for listening and viewing.

On the road

An array of chassis technology is focused on delivering a sporty, rewarding driving experience that belies the 9-5’s size. Saab XWD, the industry-leading all-wheel-drive system already available on the Saab 9-3, is offered at launch with the 2.0-litre turbo and 2.8V6 turbo engines with further applications due in the future. Available throughout the range are: adaptive chassis control, with driver settings selected through Saab DriveSense; Bi-Xenon Smart Beam adaptive headlights and adaptive cruise control. Three different suspension layouts are fitted according to engine power and all are available with a sport chassis setting.

Saab has some 30 years experience in turbocharging engines and the all-turbo powertrain line-up in the new 9-5 further develops its rightsizing engine strategy. At launch, the four-cylinder diesel comprises a 160 hp, 2.0-litre turbo engine with CO2 emissions of just 139g/km and the 2.0-litre petrol turbo engine develops 220bhp. A top-of-the-line 2.8 V6 turbo, generating 300hp and 400Nm of torque, is offered exclusively with Saab XWD.

Shortly after launch, a 1.6-litre petrol turbo with 180hp will be introduced, together with a 2.0-litre BioPower E85 engine. All transmissions will be six-speed.

A new era

Defined and equipped by Saab as its top-of-the-line contender in the premium saloon segment, the all-new 9-5 is the most technically advanced car ever produced by the company. It will be built at Saab’s home plant in Trollhättan, where it has been engineered.

The all-new 9-5 makes its public debut at the 2009 Frankfurt International Motor Show. Combining head-turning good looks with cutting-edge driving technology, it’s the start of a new era for Saab.

- By: Omar Rana

General Motors confirmed today that it has signed a conditional deal to sell its Saab brand to luxury supercar manufacturer Koenigsegg. The stock purchase agreement will give Koenigsegg 100 percent control of Saab after “closing conditions” are agreed upon.

Along with support and guarantees from the Swedish government , Saab will get assistance from GM since it is about to launch several new cars produced with the Detroit automaker that are in the final stages of development. As a part of the transaction, GM will continue sharing technology with Saab during a defined time period.

The agreement between Saab and Koenigsegg comes weeks after uncertainty regarding the support of Koenigsegg’s investors.

Click through for the press release.

Press Release:

General Motors and Koenigsegg Group Sign Stock Purchase Agreement for the Sale of Saab Automobile AB

- The deal is expected to close by year’s end and will secure Saab’s future
- The closing will be subject to funding agreements and other closing conditions
- Saab Automobile plans to exit reorganization shortly

Zurich. General Motors Co. today confirmed it has signed a stock purchase agreement with Koenigsegg Group AB regarding the sale of 100% of the shares of Saab Automobile AB. The deal is expected to conclude in the next months and will then secure Saab’s future. Saab Automobile plans to exit legal reorganization shortly.

The stock purchase agreement will be subject to agreed closing conditions. Conditions to close the sale include expected funding commitments with Swedish government support and guarantees, as well as transitional assistance from GM, as Saab becomes independent. Saab is about to launch several new cars, developed with General Motors, that are in the final stages of development.

As part of the proposed transaction, GM and Saab will continue to share technology and services during a defined time period. This will be managed through licenses and service agreements.

“This contract is an important step in the journey to a potential deal, said Carl-Peter Forster, president of GM Europe. “Saab’s great cars, its unique design, safety- and engine-technology, as well as its excellent brand image, combined with Koenigsegg Group’s unique combination of innovation and entrepreneurial spirit, bode well for a successful future for the brand. We will continue to work with all parties to define the final details and ensure a fast closure of the deal, which we expect to take place in the next few months. The closure of the deal is contingent on the funding commitment from the European Investment Bank (EIB), guaranteed by the Swedish government,” Forster added.

“We have now concluded another important step in realizing the great potential of Saab,” said Christian von Koenigsegg, CEO of Koenigsegg Group. “Our plan is to transform Saab into a stand-alone vibrant entrepreneurial company and make it ‘sustainable’ by making it profitable. We will revive Saab’s Swedish heritage of ecological sensitivity, safety, design innovation and ‘fun to drive’ experience!”

Jan Åke Jonssson, Managing Director of Saab, said: “This is excellent news for everyone connected to Saab around the globe. This is an important step to secure jobs and our long-term future as a Swedish carmaker. In the short-term, it will enable us to move forward with exciting new cars starting this month with the all new Saab 9-3X.”

About General Motors: General Motors Company, one of the world’s largest automakers, traces its roots back to 1908. With its global headquarters in Detroit, GM employs 235,000 people in every major region of the world and does business in some 140 countries. GM and its strategic partners produce cars and trucks in 34 countries, and sell and service these vehicles through the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel, Vauxhall and Wuling. GM’s largest national market is the United States, followed by China, Brazil, the United Kingdom, Canada, Russia and Germany. General Motors Company acquired operations from General Motors Corporation on July 10, 2009, and references to prior periods in this and other press materials refer to operations of the old General Motors Corporation. More information on the new General Motors Company can be found at www.gm.com. In Europe, GM sells its vehicles in over 40 markets. It operates 10 vehicle-production and assembly facilities in seven countries and employs about 50,000 people. More information on GM can be found at http://media.gmeurope.com and http://www.gmeurope.com. GM Europe executives blog at http://drivingconversations.com. To support informed discussion and fact-based reporting, GM and Opel & Vauxhall have launched a new website at http://gmeuropefactsandfiction.com.

About Koenigsegg Group AB: Koenigsegg Group AB is a consortium of private investors including Koenigsegg Automotive AB. Koenigsegg Automotive AB manufactures supercars. It has representatives in Africa, Asia, Europe, the Middle East, North America, and the Oceania. The company was founded in 1994 and is based in Ängelholm, Sweden.

- By: Omar Rana

North American investor Mark Bishop sold 22 percent of his stake in Koenigsegg, the luxury supercar automaker that plans to take the Saab brand off of GM’s hands. According to Swedish business daily Dagens Industri, Bishop had the second-largest stake in the company.

“A new owner has taken over his shares and the negotiations between General Motors and Koenigsegg Group continue according to plan,” a source said. ”Saab’s management is very positive that, together with the Koenigsegg Group, they will be able to present adequate collateral to get this loan.”

Saab, GM and Koenigsegg will meet later this week with the government about a state guarantee for a $4.3 billion Swedish crown ($593 million) loan from the European Investment Bank. Currently, Saab is under creditor protection.

- By: Stephen Calogera

Source: Reuters

The embargo on the 2010 Saab 9-5 has apparently been broken, and all the leaked images are out via AutoBild. We don’t have any technical details as of yet but we’ll be sure to update you as soon as we get them (along with better high-res photos). Stay tuned.

Click through for more images.

2010 Saab 9-5 (Leaked):

-By: The Daily Auto Editor

Last week, Koenigsegg and General Motors reached a deal that give the Saab brand over to the small Swedish supercar manufacturer.

“The sale, expected to close by the end of the third quarter of this year, includes an expected $600 million funding commitment from the European Investment Bank (EIB) guaranteed by the Swedish government,” GM said when it confirmed Koenigsegg as the new owner.

Now, Industry Minister Maud Olofsson told Reuters that the government has no idea how much Koenigsegg will be investing into Saab or if additional loan guarantees would be needed.

“We still don’t have any information about the amount of money they are willing to invest. And that is a key point. The other is the ability to lead the company,” Olofsson said.

So far we’ve heard that Koenigsegg would use Saab to bring the Quant EV to the roads and that Koenigsegg wants to give Saab its ’soul’ back.

- By: Mo Eladawy

Source: Reuters

GM’s sales of Saab to Swedish supercar manufacturer Koenigsegg is expected to be completed in the third-quarter of 2009. Under the new agreement, dealerships would continue selling vehicles under the new owner. However, Koenigsegg has the power to drop some dealerships as it sees fit, reports Automotive News.

“As part of the proposed transaction, GM will continue to provide Saab with architecture and powertrain technology during a defined time period,” GM said when it confirmed Saab’s sale to Koenigsegg. “Additionally, Saab plans to produce its next generation 9-5 models in the Saab production facility in Trollhättan, Sweden.”

According to Steven Shannon, GM’s executive director of product and marketing for Cadillac Hummer, and Saab, the 9-4X will be launched in the 2011 model year and will replace the 9-7X.

Saab is also planning to continue the much-anticipated 9-3 model and the redesign to the 9-5 due out in 2010.

- By: Mo Eladawy

A man named Baard Eker wants to give Saab its soul back. The Norwegian designer behind the bid for General Motors’ Saab says he wants to rejuvenate the “soul and spirit” of the profit-loosing Swedish brand. Eker, a Norwegian designer and entrepreneur bought a 45 percent stake in Koenigsegg in 2005 and currently owns 49 percent.

“Saab has to refine their quality level, their soul and spirit and we believe that this is something we can help with,” Eker told Reuters. ”The most interesting thing is that GM thinks the same.”

Eker did not provide any specific details on Koenigsegg’s negotiations with GM, but said that the private investors placed their faith and money in his Saab bid at a time of a credit crisis.

Asked whether a “greener” Saab is being pursued, Eker said: ”Obviously we have some ideas but it’s too early to talk about them … but environmental thinking is a very important thing in our view. That is something the smaller companies can more easily attend to because it is much quicker to turn around a smaller company.”

- By: Omar Rana

Source: Reuters

We already know that Swedish supercar manufacturer Koenigsegg has obtained the controlling interest in Saab. It won’t be long before Koenigsegg will start accessing Saab’s production facilities to produce their cars. According to Swedish website Realtid.se, Koenigsegg will use Saab’s production facilities to build a production model of the Quant EV concept car that made its debut at the 2009 Geneva Motor Show.

Realtid.se, citing unnamed sources, that said Koenigsegg hopes to use the government aid to produce the zero-emissions Quant in very low volumes in a couple of years.

Produced in partnership with NLV Solar AG, the rear-wheel-drive Quant features an advanced electric-power generation and storage system which will allow the car to recharge in 20 minutes while providing a range of 311 miles. Additional power is provided from solar panels that cover the body of the car.

The Koenigsegg Quant will produce 512-hp and a peak torque of 527 lb-ft. That should help it go from 0 to 62 mph in 5.2 seconds with a top speed of 171 mph.

Koenigsegg Quant Concept:

- By: Omar Rana

Source: GCA

General Motors announced today that it has reached a preliminary agreement to sell its loss-making Saab brand to supercar manufacturer Koenigsegg. GM did not release any details on the price tag of the agreement but said that the sale will include guaranteed financing by Sweden.

“The sale, expected to close by the end of the third quarter of this year, includes an expected $600 million funding commitment from the European Investment Bank (EIB) guaranteed by the Swedish government,” GM said in a statement. “Additional support is to be provided by GM and Koenigsegg Group AB to fund Saab’s operations and product program investments.”

“Koenigsegg Group’s unique combination of innovation, entrepreneurial spirit and financial strength, combined with Koenigsegg’s proven ability to create world-class Swedish performance cars in a highly efficient manner, made it the right choice for Saab as well as for General Motors,” said GM Europe President, Carl-Peter Forster.

As part of the memorandum of understanding, GM will continue to provide Saab with architecture and powertrain technology during a defined time period that it did not specify. Additionally, Saab plans to produce its next generation 9-5 models in the Saab production facility in Trollhättan, Sweden.

Koenigsegg, founded in 1994, has 45 employees and output of only a handful of cars a year.

- By: Omar Rana

Sichuan Tengzhong Heavy Industrial Machinery, the winning bidder for GM’s Hummer brand said that it expects the deal to be completed by October 2009.

The company’s general manager Yang Yi, said that Tengzhong has no plans to transfer Hummer equipment and technology to China from the United States. He said that the company also has no plans to take on any debt accrued by the business.

“I hope you can understand, but there are many things I cannot talk about,” Yi said. “We think a deal should be completed by the third quarter.”

Separately, GM wants its 220 U.S. Saab dealerships to sign an agreement by Friday to prepare them for a likely sale. The proposal makes no guarantee that all Saab dealerships will get to stay in business even if GM sells the brand to a new owner.

Koenigsegg  is said to be in the process of wrapping up the purchase of Saab by next month.

- By: Omar Rana

Source: Reuters and Automotive News