Saab Story Update

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Last week we reported that Saab would no longer honor any warranty claims by owners, and would sell its vehicles “as is,” which meant no coverage.  Shortly after, General Motors, the previous owner of Saab before selling it to Spyker Cars in 2010, agreed to cover warranty claims, but only for the vehicles that were sold when GM owned the Swedish car company.

Check your paperwork; that means anything up to and including Saab vehicles sold before the end of February 2010. GM estimates that amounts to about 57,000 vehicles total in the United States and Canada.

Another step forward in the Saab saga includes the naming of an outside administrator to run the company as part of a plan to help avoid liquidation following the bankruptcy filing. The firm hired to run the company is McTevia & Associates, headquartered in Bingham Farms, Michigan, and West Palm Beach, Florida.

If you still think a Saab is a good buy now (especially as a possible future collector car), keep in mind that the 188 Saab dealers have about 2,400 cars on their lots as of the end of 2011, and the deals are unsupported by any factory incentive programs. In addition, some dealerships, such as Perrine Saab in Cranbury, New Jersey, will provide their Saab owner customers a GM Protection Plan Warranty for 3 years/36,000 miles. At 2,000 to $2,500 per vehicle, the dealership says it’s a relatively small price to pay to keep customers happy, and it will go a long way toward helping to
sell the remaining vehicles.

We’re sure there will be more news upcoming, so stay tuned.