Saab surfing a new wave of confidence
After reports yesterday that a takeover bid for Saab by Chinese auto dealer, Pang Da, was set to go through, it appears the Swedish firm is riding a new wave of confidence.
Already Saab is keen to highlight the fuel-efficient prowess of the 9-5 turbo, stating that in a recent MPG marathon the relatively punchy 220bhp family four-door returned 43.8mpg – that's over 27% better than the quoted average figure.Saab must be pretty confident that a rescue bid to keep the receivers at bay is imminent. But the company can't afford to count its proverbial chickens just yet.
The Chinese government must still approve any deal, which looks pretty unlikely given the lack of intellectual property included in the arrangement and the severely limited tech Saab has to sell.
With Saab experiencing significant money trouble for most of this year too, don't expect to see any new tech-laden models emerging from the gates of the factory anytime soon, even if a takeover bid does go through.
In a separate deal to the main bid, Pang Da shelled out around £30 million for 2,000 cars for its dealerships...but Pang Da Chairman Pang Qinghua has revealed the Chinese dealer hasn't yet received any of them.
This is not a good sign of things to come from Pang Da's point of view. Not delivering on a deadline seems to be Saab's speciality lately, so the Swedish manufacturer needs to get things moving and deliver some cars to Chinese forecourts before the firm gets cold feet and writes off the whole thing.