GM rushes to help Saab

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GM rushes to help Saab Posted by Delacruz (more from Delacruz) on Tue, 19 Nov 2002 17:31:29

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Is Saab on death-watch again? See summary of Monday's story from Automotive News below. There was a story as well in today's Wall Street Journal.
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GM rushes to help Saab
Brand centers scrapped; U.S. execs lead turnaround team in Sweden

By Dorothee Ostle
Automotive News / November 18, 2002

General Motors is putting together an emergency turnaround plan to deal with the rapid financial deterioration of Saab Automobile AB.

The Swedish subsidiary is in deep trouble. Saab has been forced to grapple with heavy product development costs, a slow, difficult launch of the redesigned 9-3 sedan and a weak dollar - all while sales are collapsing.

On Nov. 1, two GM executives from Detroit took over as Saab's CFO and COO in Sweden. GM Europe President Michael Burns has held meetings with Saab executives to address the problems, which internal forecasts show will result in losses of $504 million this year.

That amounts to losses of $4,000 per car sold, a stunning burden for any automaker.

To read more about this topic go to http://www.autonews.com/article.cms?articleId=41479

posted by 208.139.198...

http://www.autonews.com/article.cms?articleId=41479

Posts in this Thread:

GM rushes to help Saab, Delacruz, Tue, 19 Nov 2002 17:31:29 <-- Viewing This Message
- I'VE GOT IT! ... It's the Full Moon! ..., J, Wed, 20 Nov 2002 01:27:08
- Also a short article in today's WSJ . . ., Mike D, Wed, 20 Nov 2002 01:10:24
- Relax..., AlanF, Tue, 19 Nov 2002 22:21:41
  - You are dreaming. Here's the deal., rhk, Wed, 20 Nov 2002 09:04:38
    - Re: You are dreaming. Here's the deal., Ron H, Wed, 20 Nov 2002 09:42:36
  - Not necessarily . . ., Mike D, Wed, 20 Nov 2002 01:14:16
- Do you guys revel in worrying about nothing?, J, Tue, 19 Nov 2002 19:34:02
  - No, but it is a concern., Mike D, Wed, 20 Nov 2002 01:17:24
    - What's that refreshing breeze?, phred, Wed, 20 Nov 2002 15:11:15
  - Did you really read the article?, phred, Tue, 19 Nov 2002 19:51:17
    - Yes, I read the article. It does not say Saab will be, J, Tue, 19 Nov 2002 23:28:59
      - right on... "European Daewoo"?! sheeeessh! (n/m), Jason 0W-40, Wed, 20 Nov 2002 00:59:13
- This really sucks, phred, Tue, 19 Nov 2002 18:05:42
  - Re: This really sucks, Ron H, Tue, 19 Nov 2002 18:32:25
    - Re: This really sucks, Scott Paterson , Tue, 19 Nov 2002 20:41:09
      - Re: This really sucks, TG, Wed, 20 Nov 2002 07:30:02
    - My dealer added a SAAB only showroom recently, Jason 0W-40, Tue, 19 Nov 2002 20:17:55
    - My dealer is undergoing a massive renovation . . ., robp, Tue, 19 Nov 2002 19:46:58
      - My dealer too is undergoing a masive renovation . . ., eddie, Tue, 19 Nov 2002 20:58:26
    - No, my dealership had to do this, phred, Tue, 19 Nov 2002 18:57:12
      - Re: No, my dealership had to do this, 3.0t, Tue, 19 Nov 2002 19:10:25
- Re: GM rushes to help Saab, eddie, Tue, 19 Nov 2002 17:55:11
  - Re: GM rushes to help Saab, dtech, Wed, 20 Nov 2002 09:57:42
    - Saab's not going anywhere ..., J, Wed, 20 Nov 2002 10:28:57
      - Jae- good line..., Brian, Wed, 20 Nov 2002 11:47:12
  - Re: GM rushes to help Saab, eddie, Tue, 19 Nov 2002 17:57:37

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