Jump to content

MyCarForum Logo
Search
Magnifying glass

SEARCH

0

Saab owner Spyker sues General Motors for US$3billion

By Rigval on 08 Aug 2012

Attached Image: 400px_Saab_wordmark_grey.svg.png

Sometimes the dead is unable to rest in peace. In this case, Saab, and its owner, Dutch company Spyker has decided to sue General Motors for the sum of US$3 billion. Spyker/Saab wants compensation for the actions of General Motors (GM) blocking the use of GM technology in Saab cars.

Attached Image

GM was basically worried that Saab/Spykerís tie-up with China car manufacturer Youngman would allow for unwarranted technology transfer of GM technology in current Saab models.

This would have also affected GMís sales in China, a ridiculously huge market for all manufacturers. So what GM purportedly did was that GM made false statements that its consent was somehow required and that it would oppose any agreement with Youngman.

On December 19, 2011, having been wrongfully deprived by GM of a means to secure further funding, Saab was forced to file for bankruptcy liquidation. Further stating their case, the 2013 Saab 9-3 was based on new non-GM based technology and Saab discontinued the GM-based 9-3 and 9-5 by then.

Anyway, let the legal circus carry on and hope that a verdict is reached soon. I however would like to comment on why the US$3 billion figure was deemed an appropriate sum for the lawsuit. According to reports the amount was based on the projected 2016 value of Saab. Quite an ambitious sum as Saab basically made 32,000 cars in 2010 before the company was declared bankrupt.

Of course, lawyers and people of interest would like such rosy figures to pad up their file but Iíve mentioned before, and many other people have mentioned before that Saab appeals to architects, artists and maybe borderline lunatics who somehow refuse to buy proper luxury cars from say, Audi, Mercedes Benz and BMW.

Or people who somehow think that Volvos arenít Scandinavian cool enough for them. And looking at car buying trends even in places where Saab was traditionally strong, like in the United States theyíve done so much more wrong than right.

Over in the States, Saab was once a favourite in the cooler northern America where people wanted a car that could travel through snow and wet conditions. That was taken over by Subaru to an extent. One that Saab basically never recovered from.

So even if the new, replacement Saab 9-3 came out, no one would actually know whether the cars will be accepted by the car buying public or not. I personally doubt if Saabís claim of having a value of US$3 billion makes sense. It could be padding so that a smaller settlement wouldnít be so small.

europe, events, other news, saab and 7 more...

Viewed: 755 times

Related Blog Posts
Rigval
Written by Rigval
Born in 1972. Married with a kid. Loves B-road drives and have driven cars from the 1950s to date.



 
Car Makes

Please select a car make

Facebook Likes
   Featured Blog Post
Photo
The latest MyCarForum Hangout with Perodua witnessed the launch of the brand new Perodua Bezza, t...
POPULAR BLOG POSTS
Photo
Despite a nearly $7 billion cost in recalling its explosive Galaxy Note 7 phones, Samsung ha...
Photo
Celebrating their world premieres are the first cabriolet from luxury brand Mercedes-Maybach alon...
Photo
A U.K. insurance company has reported that car parking accidents have cost U.K. motorists £1.4 mi...
Photo
Driving an old car with almost no modern features in it? Or just love adding new accessories for...
Photo
Before we start asking what the Government can do to encourage the use of electric vehicles (EVs)...
   Lifestyle Articles