Chinese, Indian Companies Apparently Lining Up to Buy Pieces of Zombie Saab
February 3, 2012 at 3:19pm by Justin Berkowitz
Saab apparently is not dead—it’s just in a persistent vegetative state. A total of 5 parties have stepped forward to bid on all or components of the Trollhättan-based automaker as a bankruptcy court in Sweden manages the sale of the company’s assets. The aim is to recover some income for Saab’s creditors. The three events getting the most interest are two Chinese firms and Mahindra & Mahindra, an Indian automaker.
- Zhejiang Youngman Lotus Automobile Co. is explained to have created a bid in the hundreds-of-millions-of-dollars range for as a lot of Saab as it can get. Specifics of the offer haven’t been disclosed, but some quite cautious contracting should be on the table: Youngman tried to get Saab just before the bankruptcy, but Basic Motors eventually vetoed that deal because it would have place so a lot GM-engineered Saab technology into the hands of a relatively tiny Chinese firm. It is not clear what’s diverse this time about that may possibly placate GM.
- Beijing Automotive Business Holding Business (BAIC) also has expressed serious interest in picking at Saab’s carcass. Saab sold the tooling and rights to create the old 9-five to BAIC in 2009—it’s re-skinning them with more-modern day sheetmetal—so this looks like a predictable move. Analysts like to say that the Chinese auto business is producing quickly, which it is, but the advantage of developing a automobile on even an old western platform cannot be understated.
- Indian firm Mahindra & Mahindra—a main producer of passenger automobiles, business automobiles, and agricultural equipment—is reported to have entered preliminary discussions to acquire at least portions of Saab. These reports date back to December 30, nonetheless. As of this writing, Mahindra spokespeople weren’t readily available for comment.
If you’re confused by this quagmire of news, it is understandable. And you are not alone. Saab is a reasonably huge industrial firm, and it’s going via a sophisticated bankruptcy procedure in Sweden. State- and privately held Chinese producers are in some cases declining to be forthcoming about their positions in negotiations—and in other cases are legally needed to remain quiet. Even worldwide news organizations with staff on the ground in Sweden and China are relying in component on 2nd-hand data.
We’ll bring you more news if and when it develops.
Photo by Phil LaCombe
BMW falls behind Mercedes-Benz in Jan. 2012 sales
Even though BMW had a quite powerful 2011, the Munich automaker failed to retain its lead over Mercedes-Benz in January U.S. sales. BMW sales rose 3.1 % in January 2012 with a complete of 16,405 units delivered in the United States. Mercedes-Benz was up a complete of 24 percent with a complete of 20,306.
Lexus sales fell four.six % to 12,274 autos in January 2012.
BMW revenue in 2011 rose 13 % to 247,907 units, assisting it claim the title as the top rated-offering luxury brand in the United States. The range helped dethrone Lexus, which held the spot for 11 years.
Lexus sales fell 13 percent in 2011 to 198,552 units bringing it to No. 3, even though Mercedes-Benz came in second offering 2,715 units much less than BMW.
Kia Track’ster – 2012 Chicago Auto Show Preview
Kia will unveil a concept based on the Soul 5-door wagon next week for the duration of the Chicago Automobile Show. Referred to as the Track’ster, the display-automobile is meant to preview a “performance inspired” model of the Soul, according to Kia Motors. From the sketch, the automaker’s California-based style group seems to have taken a web page from the chopped-down roof of the new 2-passenger Mini Coupe.
The Track’ster disposes of the Soul’s rear doors, turning the funky 5-door into an upright urban-chic coupe. A red roof and side mirrors contrast with the white physique and (what seems to be) chunky-searching black rocker panels and reduce front fascia. The grille and headlights appear drastically more substantial than just before, even though the enormous alloy wheels in this sketch are definitely artistic whimsy.
No word as to what engine may be under the hood. Bet on it getting at least the 142-bhp two.-liter 4-cylinder obtainable in the existing Soul – the base one.6-liter doesn’t quite jive with the sportier image of the Track’ster.
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January 2012 sales up 11%, Chrysler jumps 44% and GM sales fall 6%
The pace for U.S. light automobile product sales rose by 11 percent final month and was set by a handful of major automakers including Chrysler Group, Volkswagen Group and Hyundai/Kia.
All major automakers posted revenue gains last month except General Motors, which fell 6 % from a robust January 2011. The automaker sold a complete of 167,962 vehicles with Chevrolet getting the primary highlight as sales for the brand had been up 13 percent.
“Chevrolet drove our efficiency once once again and sales of our fuel-effective new cars had been particularly good,” and Don Johnson, vice president, U.S. Product sales Operations. “The strength that the economic climate and the car industry showed in the fourth quarter carried into January, so we imagine the year is off to a good start off.”
FoMoCo sold a total of 136,710 vehicles in January, a 7 percent boost. Ford as a brand sold 131,589 automobiles in January, creating it the greatest January product sales month for the Ford brand because 2008.
Chrysler shined the most out of Detroit automakers with U.S. revenue coming in at 101,149, a 44 % improve compared with product sales in January 2011.
Hennessey Performance previews twin-turbo HPE800 McLaren MP4-12C
Tuning firm Hennessey Overall performance Engineering has set their sights on British automaker McLaren Automotive and their new MP4-12C. The firm is offering their HPE800 Twin Turbo upgrade for the McLaren MP4-12C, which consists of powertrain upgrades, aero package deal upgrades, Hennessey CarbonAero bodywork and a center-positioned frontal air inlet with hood extractor.
We’re guessing Hennessey’s upgrade will take the ‘standard’ 592-hp to 800-hp.
Check out a lot more news on the McLaren MP4-12C.
“We’ve been taking fast cars and have been producing them more rapidly for over twenty a long time,” explained company founder and president John Hennessey. “I spent a lot of time about the new 12C at the 2011 Goodwood Festival of Speed and was really impressed. We’re excited to have the opportunity to take a wonderful auto and give it our own unique efficiency touch although providing 12C owners a uniquely aggressive appearance”.
No pricing has been set but you can examine out the facts following the jump.
Report: Chevrolet Cruze could have potential in the U.S. market
The Chevrolet Cruze, sold only as a sedan, brought in some successful product sales numbers for 2011, with 231,732 units sold. For this year, Chevy has made a decision to add a wagon variant for the Cruze that expected to improve product sales even increased.
Although GM is nevertheless finishing up with the wagon, it is rumored that the model will be numerous inches lengthier, with the addition of a sloping rear window and a tailgate.
Click here for a lot more news on the Chevrolet Cruze.
This is not the 1st variant that GM has produced for the Cruze, nevertheless. A 5-door hatchback is only available in markets outside the U.S., and even though GM hasn’t stated if they will be undertaking the exact same with the wagon, it may be a worthwhile move for the automaker to add it in the states. The Jetta Sport Wagon and Hyundai Elantra Touring are the only competitors the Cruze wagon would have in the states.
- By: Alexandra Koken
Mitsubishi Teases New Model Ahead of Geneva Debut
Mitsubishi has released a teaser of a new model that will be unveiled at the Geneva Motor Show in March. According to Mitsubishi, the new model will be the start of an all-new generation of global products with a “re-focused design language” from the automaker.
The model teased here is described as a “strategic and innovative premium vehicle” that will be released sometime this year. The new vehicle is part of Mitsubishi’s “Jump 2013″ business plan for a greener and more global Mitsubishi.
Mitsubishi had this to say about its new design language:
