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SAAB news hot off the press. Terminated Dealers Posted by worldofsaabs [Email]  (#1154) [Profile/Gallery]
(more from worldofsaabs) on Thu, 12 Nov 2009 17:39:49
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Automotive News posted this article online about 5pm today
Greg
Saab buyer rejects 81 U.S. stores
Jamie LaReau
Automotive News
November 12, 2009 - 5:08 pm ET
DETROIT -- Saab's new owner will reject 81 of Saab's 218 U.S. dealerships, General Motors Co. said today.
GM said in a letter received by dealers today that Saab's buyer, Swedish exclusive sportscar maker Koenigsegg, selected the surviving stores. Koenigsegg will operate the brand here through a new entity, Saab Cars North America Inc.
The target date to close the sale of Saab is Nov. 30, but it could take until year end, says Mike Colleran, COO of Saab Cars North America in Detroit.
“SCNA did make its selection of (go-forward) dealers based on our business plan and the needs of that plan,” Colleran says. “Essentially, we're looking for strong dealers who have good profitability and good throughput.”
Location also factored into the decision, he said.
GM sent letters out through Federal Express on Wednesday to rejected dealers, GM spokeswoman Ryndee Carney said. Saab will have 137 U.S. dealers after the sale.
All Saab dealers signed a termination agreement in June when GM entered federal bankruptcy protection, Carney says. The terms of those termination agreements will go into effect for rejected dealerships.
If the deal to sell Saab falls through -- as GM's deal to sell Saturn to Penske Automotive Group did -- GM would close Saab and all the dealerships would be terminated, Carney says.
The surviving dealerships will remain under their current dealer contract with GM until it expires in October 2010, Colleran says. Then they will get new franchise agreements with Saab Cars North America.
, Thu, 12 Nov 2009 17:39:49 <-- Viewing This Message, Sun, 15 Nov 2009 14:29:31
, Sun, 15 Nov 2009 15:12:14
, Fri, 13 Nov 2009 06:28:28
, Sat, 14 Nov 2009 18:30:17, Fri, 13 Nov 2009 03:40:45, Thu, 12 Nov 2009 19:39:08
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