As Saab struggles under its financial woes, its enthusiasts could only wonder when its newer models would become collectors' pieces. One of the more famous collectors is Karl Ask, a 23-year-old Swede who already owns 11 Saab units (including a Saab 93 and Saab 95 that feature the two-stroke engines). He is now eyeing the Saab 92, an older and rarer model.
Last month, Saab’s production plant located in Trollhattan, southwest Sweden, shut down when due to non-payment, suppliers had to suspend the delivery of parts. Saab has been one of the crown jewels in the business empire of Sweden's Wallenberg family for years.
However, Saab hasn’t made a profit in the last 20 years. It failed to prosper under General Motors Co., which sold Saab off in 2010 to Spyker Cars. In 2006, its annual sales peaked at 131,000, falling to 31,700 cars last year. This is less than a tenth of rival Volvo's annual sales of 380,000.
Spyker has a market cap of $110 million and its shareholders include Abu Dhabi's Mubadala Development Co. Spyker aims to get Russian businessman, Vladimir Antonov, as an investor.
Spyker is in talks with possible partners and funding sources in China, which saved Volvo (its long-time competitor). But despite these issues, Saab is still one of the most famous brands in Sweden.
Saab has a loyal group of fans who like its cars’ uniqueness and early creations. Among the features that make Saab noteworthy are its taking the lead with turbocharging, ignition placement, and heated seats.