Archive for the ‘Saab’ Category
Tuesday, August 21st, 2012
General Motors (GM) and Isuzu will be alerting drivers of certain 2006-2007 sport utility vehicles (SUV) of a problem that could result in a fire starting inside the driver’s side door. The problem is being blamed on contaminants getting into the door and causing corrosion and a short circuit in the power door lock and power window switches. Drivers noticing a burning odor or the power door locks and power windows functioning intermittently or stop working completely, are asked to take their vehicles to the nearest dealership immediately. The problem affects certain GM and Isuzu vehicles originally sold or currently registered in Connecticut, Delaware, Illinois, Indiana, Iowa, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, West Virginia, Wisconsin, and the District of Columbia. The vehicles included in the recall are:
For more information about the problem:
- Buick owners may contact the Buick owner center at 1-800-521-7300
- Chevrolet owners may contact the Chevrolet owner center at 1-866-694-6546
- GMC owners may contact the GMC owner center at 1-866-996-9463
- Isuzu cowners may contact the Isuzu owner center at 1-800-255-6727
- SAAB owners may contact the SAAB owner center at 1-855-880-0808
Tags: auto safety, automobile problems, Buick, Buick problems, Chevrolet, Chevrolet problems, electrical problem, General Motors, GM, Isuzu, Manufacturer defect, Saab, Safety
Posted in Auto Problems, Automobile Safety, Buick, Chevrolet, Electrical problems, GM, GMC, General Motors, General Motors Company, Isuzu, Manufacturer defect, Saab, Safety Recalls | No Comments »
Wednesday, August 8th, 2012
Luxury sports car maker, Spyker, has filed a lawsuit against General Motors accusing them of deliberately bankrupting Saab by blocking deals with foreign investors. When Spyker bought Saab from GM in 2010, the agreement allowed GM to retain the rights to technology and patents used in the engineering of Saab vehicles. As Saab struggled to avoid a court action to liquidate the company, Chinese automakers, Zhejiang Youngman Lotus Automobile and Pang Da Automobile Trade came forward with $140 million dollars to invest in the company with an expected additional investment of up to $708 million to build Saab vehicles in Sweden’s Trollhattan plant as well as open a factory in China. According to Spyker, the deal was blocked by GM executives because they did not want Chinese investors to have access to GM technology, allowing them to compete against the U.S. auto maker in China, one of its most important foreign markets. Spyker Chief Executive Victor Muller accused GM of “deliberately pushing Saab over the cliff”. Spyker is seeking $3 billion in damages, the estimated future value of Saab if Zhejiang Youngman had been allowed to buy the Swedish auto maker and invest in it.
The lawsuit comes as GM struggles to survive in Europe. The auto maker said last week that its second-quarter earnings plunged 38% due to a $361 million loss in the company’s European operations.
Tags: China Automotive Industry, General Motors, GM, lemon laws, Saab, Saab Sale, Spyker Automotive, Swedish Automaker
Posted in Auto Industry, GM, General Motors, Miscellaneous, Saab, Spyker | No Comments »
Wednesday, February 22nd, 2012
The National Highway Traffic Safety Administration (NHTSA) is investigating certain GM vehicles after receiving twelve complaints of smoke and fire from the inside of doors of some Trail Blazer mid-size sport utility vehicles. The complaints are similar to consumer reports that lead the NHTSA to open an investigation into some 2007 Camry, Camry Solara and Rav4 vehicles, earlier this month. The NHTSA will be focusing on whether window switches on the GM and Toyota vehicles were manufactured by the same supplier. The investigation could affect up to 310,000, 2006-2007 Chevrolet Trailblazers. According to the safety administration, the Buick Rainer, Saab 9-7x, and the GMC Envoy share the same parts at the Trail Blazer, but these vehicle are not part of the investigation yet
Tags: auto safety, automobile investigation, Buick, Chevrolet, electrical fire, electrical problem, fire, General Motors, GM, NHTSA, Saab, Safety, Toyota
Posted in Automobile Investigations, Automobile Safety, Buick, Chevrolet, Electrical problems, GM, GMC, General Motors, General Motors Company, NHTSA, Saab, Safety Investigation, Toyota | No Comments »
Thursday, December 29th, 2011
A rescue plan to save Saab has hit another road block as General Motors decides to stop supplying Saab 9-4X vehicles as well as automobile technology to Saab’s Chinese owners. According to GM, Saab’s third quarter results showed that it is not in the best interest of GM shareholders to continue investing time and money into the company. While Saab Cars North America has suspended warranty coverage on vehicles, GM says they will continue to cover any warranty remaining on Saab vehicles sold under GM ownership. This includes any 2009 and earlier model vehicles sold in the US and Canada.
Saab Cars North America has told owners of newer vehicles to keep receipts of all related warranty work or services performed until further notice. They said they are suspending the processing and payment of all claims, including recalls, towing, certified pre-owned coverage and no-charge maintenance until further direction from Saab Automobile AB, and that any unsold vehicles still sitting on dealers lots will be sold “as is”.
Saab has not filed for either Chapter 7 bankruptcy, which would lead to the liquidation of the company, or for Chapter 11 bankruptcy, which would result in the reorganization of the company under court supervision and protection from creditors.
Tags: California Lemon Law, General Motors, Saab, Saab bankruptcy, Saab liquidation, Saab warranties
Posted in Auto Industry, GM, GMC, General Motors, General Motors Company, Saab | No Comments »
Friday, October 28th, 2011
Hours before facing court action to liquidate, Saab has been saved by Chinese automakers, Zhejiang Youngman Lotus Automobile and Pang Da Automobile Trade, in an agreement to buy the company for a little over $140 million. The Swedish automaker has been struggling to survive since January 2010 when General Motors sold the automobile division to Spyker cars. In April 2011, the company continued to struggle as factories closed due to lack of credit. At the time, the tentative agreement with China’s Pang Da Automobile Trade allowed the factories to reopen, giving the Chinese company an equity stake in Spyker.
The Chinese companies are expected to invest up to $708 million in Saab, and plan to build vehicles at their Trollhattan plant as well as in China, which will become the second home market for Saab. The deal first requires the approval of the authorities in Beijing, the European Investment Bank, the Swedish government, as well as G.M., which has links to Saab, through intellectual property and preferred shares.
Tags: California Lemon Law, China Automotive Industry, Saab, Saab Sale, Spyker Automotive
Posted in Auto Industry, Saab | No Comments »
Friday, May 13th, 2011
The future of Saab is once again being questioned after negotiations between Spyker Cars and China’s Hawtai Motor Group were terminated. Saab hoped that money obtained through the million dollar agreement, would allow Saab to reopen their Sweden factories, which have been closed since April due to lack of credit from suppliers. Hawtai confirmed that talks have fallen through saying that both sides were unable to reach an agreement in the allowed time frame, but hope that negotiations will continue. The lack of consensus of the deal is being blamed on a hasty agreement put together by Spyker’s chief executive and chairman before full approval was obtained from its backers.
Spyker also continues to remain in discussion with another potential investor, the Russian businessman Vladimir A. Antonov. Negotiations between the two parties was blocked last year by G.M before they sold the Swedish automaker. Allegations of suspicious financial dealings was the reason for the breakdown of those negotiations.
Update
Things are starting to look better for Saab today as they signed a tentative deal with one of the largest publicly traded car distributors in China. The finance and import deal with Pangda Automobile Trade, comes after several negotiation collapsed with other potential Chinese partners. Under the agreement, Saab will receive $63 million for an unspecified number cars, plus almost $90 million for equity in Spyker Automotive, giving them some control in Spyker and Sabb management. The deal will include a joint venture to make and distribute cars in China under the Saab brand and a new brand not yet announced. According to Victor Muller, chief executive of Spyker and Saab, “The agreement is a tremendous boost for the company, allowing them to sell imported Saabs in China.”
Tags: auto industry, China Automotive Industry, Saab, Spyker Automotive, Swedish Automaker
Posted in Auto Industry, Lemon Law, Saab | No Comments »
Friday, April 29th, 2011
The National Highway Traffic Safety Administration (NHTSA) has started an investigation into over 850,000 General Motors SUV’s after receiving complaints of inaccurate fuel gauges. Of the 668 complaints received, 58 said that their vehicle ran out of fuel even though the fuel gauge said there was still fuel in the tank. The vehicles involved in this investigation include:
- 2005-2007 Chevrolet Trailblazer
- 2005-2007 G.M.C. Envoy
- 2005-2007 Buick Rainier
- 2005-2007 Saab 9-7x
Tags: auto industry, automobile investigation, Buick, Chevrolet, Fuel problem, General Motors, GM, GMC, GMC Envoy, GMC problems, NHTSA investigation, Saab
Posted in Auto Industry, Automobile Investigations, Buick, Chevrolet, GMC, General Motors, General Motors Company, NHTSA, Saab | No Comments »
Friday, January 21st, 2011
Saab is recalling almost 4,500 passenger cars over fuel pumps that could seize, resulting in the engine stalling. The recall will affect some 2010-2011, 9-3 sedans built between June to October of 2010. The problem is being blamed on pump components that may have been manufactured with incorrect specification. Owners will be notified of the recall in February where dealers will replace the pump free of charge. Owners can contact Saab at (800) 955-9007 .
Tags: California Lemon Law, fuel pump, Saab, Saab 9-x, stalling engines
Posted in Auto Problems, Automobile Safety, Saab, Safety Recalls | No Comments »
Tuesday, January 12th, 2010
As General Motors Co. continues to close down the Saab division of their company, starting with replacing their entire board, they are still putting pressure on bidders to make better offers.
This comes after negotiations between G.M. and the high-end Swedish automaker Koenigsegg failed. Beijing Automotive was one of Koenigsegg’s backers in the earlier Saab procurement plan, potentially contributing $200 million to $300 million toward the deal. Saab’s engineering expertise has always been admired by the Chinese automaker. Saab did come to an agreement with Beijing Automotive Industry Holdings to sell the rights to powertrain and tooling technology for some of their older models. Saab will also help Beijing Auto build its own car brands, using the Saab technology.
GM executives said on Monday that none of the bids received are meeting the financial requirement for a deal and said they were moving ahead with plans to close Saab. Saab spokes woman Gunilla Gustavs added today: “There is still the possibility that the negotiations on the bids will result in a decision to sell Saab in its entirety.” Luxembourg based investment firm Genii Capital and Dutch luxury carmaker Spyker Cars and a group of Swedish investors are expected to make better offers for Saab.
Tags: GM, Saab
Posted in Auto Industry, GM, General Motors, General Motors Company, Saab | No Comments »
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