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Saab’s Jan Åke Jonsson retires, 2010 earnings & deals in Russia & China
Fri, 25 Mar 2011Saab's CEO Jan Ake Jonsson to retire after almost 40 years with Saab It’s been a difficult period at Saab, what with trying to survive as GM came close to closing the Swedish car maker down in the absence of a ‘suitable’ buyer, through being taken over by Spyker and then trying to replace their entire range. And it’s taken its toll on Saab boss Jan Åke Jonsson. It’s been announced that – after nearly 40 years with Saab – 59-year old Jan Åke will step down from his job in May and hand the reins over – temporarily – to Spyker’s Victor Muller until a replacement can be found.
GM recalls 413,418 Chevrolet Cruze models to modify engine shield, prevent fires
Fri, 22 Jun 2012General Motors is recalling all Chevrolet Cruzes sold in the United States for a fix aimed at preventing engine-compartment fires. GM said the recall covers 413,418 Cruzes, or all of the cars sold in the United States since the model's launch in September 2010 through May. The automaker said the recall is to modify an engine shield under the vehicle to prevent liquids from being trapped in the engine compartment, where a fire could start.
Saab seeks court protection from creditors
Wed, 07 Sep 2011Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.