Skip to content

Saab saved from car finance disaster… again!

Just when you thought the chips were down and Saab were on the brink of unquestionable death, another twist and turn appears from out of nowhere.

Just when you thought the chips were down and Saab were on the brink of unquestionable death, another twist and turn appears from out of nowhere. Yes, that’s right; another story has emerged from the on-going car finance debacle that is the financial problems with Saab.

After the Chinese investors Hawtai pulled out of the investment deal that would have seen Saab restart production, it seemed there was no hope for the Swedish firm, but we were all wrong. Like a superhero saves the heroine, Pang Da Automobile Trade Co has swooped in and rescued Saab from financial obscurity.

According to reports, the deal will see £96m injected into the company. Victor Muller, CEO of Saab and its parent company Spyker, said: "Pang Da is a forward-looking, profitable and well-capitalized public company that, as the single largest automobile distributor in China, sees enormous potential for our brand in their home market. We will work hard to finalize the relevant agreements and firmly establish Saab in the world's fastest growing car market."

Posted by on

Back to May 2011

Back to top