S6devil

iTrader: (10)

http://news.yahoo.com/s/nm/20090616/ts_nm/us_gm_saab

i can see Saab buying Koenigsegg, but the other way around ?????? whats next, Hennessey buying Chrysler ?

2LOFD3ATH

iTrader: (3)

Wonder if they would buy Saab, if GM lets them go or whatever.

S6devil

iTrader: (10)

well, it sounds like its a done deal. so whatever happens to saab from now on, i just hope they dont make anymore of these -

Boltz.

iTrader: (42)

^ That thing is awesome

GPTourer

Why is that so hard to believe? SAAB is a division of GM, and GM is bankrupt. SAAB doesn't have any money. What was really tough to believe was Porsche trying to buy VW.

S6devil

iTrader: (10)

r u kidding me??? why is it so hard to believe??? because Koenigsegg is a company first established in 1994. they make just one model, and sell like 18 of em a year....

GPTourer

But they have good credit, and part of the money they got is a loan from the Swedish government. All they are buying is the name, GM will still build the cars for them for the forseeable future.

otter

iTrader: (14)

This. Konninnnsssissiieeggnsnssssggg is a company in good standing and buying up an existing brand like Saab (at a heavily discounted price, I'm sure) sounds like a great way to expand their business. Plus, it'll give them more resources to put into their supercars, so maybe they'll be able to cut $50k from the price

S6devil

iTrader: (10)

ok, another example - can u imagine Bugatti buying VW ? (just in concept, can u imagine it ?) at least bugatti is an old established brand... so even worse here... a tiny company, with no history, is buying a major brand...

GPTourer

But GM is offering SAAB at closeout whoesale pricing, everything must go. How much is it really worth? You've got a guy, albeit rich as hell, buying Saturn. You've got some unknown Chinese heavy machinery company buying HUMMER, yet all of them are going to contract out to GM to build their cars for the next five or six years or so, give or take depending on each deal.

What really is so expensive or hard to believe? How much does a damaged brand name cost? No real estate in the form of corporate HQs, R&D centers, no factories, no tooling, and no inventory is involved in these deals.

S6devil

iTrader: (10)

Penske ? the company that owns a race team, car rental, a trucking company, hundreds of stores and repair shops across the country, and has 15,000 employees, in 5 countries.... ye, good comparison to Koenigsegg Inc.

GPTourer

Still one rich man, and I wasn't comparing them anyway. But okay dude, you can't believe its happening, fine. But it is.

I hope you find peace.

erald01

iTrader: (5)

Saab is Sweedish based car, and it was baught by GM long time ago just like Volvo and Jaguar was bought by Ford, so if someone else wants to buy then let it be, i actually think the 9-3 Aero look sweet, BUT they do tend to have electrical problems

yahu

iTrader: (55)

You're comparing the brand Saab, which as others have said is a part of a company that is basically in financial ruin, to a company like VW, who are still successful even though they build horrible cars (my personal opinion, anyway ).

otter

iTrader: (14)

I think you're just having a hard time grasping just how bad things are at GM and how cheap they're willing to go to dump these brands. Not to mention that there's a huge amount of backing from the Swedish gov't because they believe that Koenissegg has what it takes to run an efficient company. I think they're right. IMO, being able to successfully run an automotive company that only makes 12 units per year is incredibly impressive.