Spyker planning to get financing back for Saab

Article by Christian Andrei, on August 26, 2010

There are no plans to reduce Saab's US dealership roster, according to Victor Muller, CEO of Spyker Cars NV and Saab's new owner. This report would surely put to rest dealers' apprehensions that began when former bidder Koenigsegg Group revealed plans last year to shut down 81 of 218 US stores.

Muller also shared that he aims to enter a long-term deal with GMAC Financial Services to be its primary lender. In an interview last week, Muller had said that its first task would be to get financing for Saab.

After months of speculation, General Motors Co. and Dutch carmaker Spyker reached a binding agreement on the Saab purchase.

The deal calls for Spyker to create a new company, Saab Spyker Automobiles. Spyker and GMAC are currently deep in discussions to come to an arrangement that would allow the lender to finance new and used vehicles as well as provide floorplanning for Saab dealers.

Muller explained that certain Saab financing from lenders other than GMAC "stopped overnight" 13 months ago after GM said Saab was under strategic review.

Muller anticipates that by the time the deal closes with GM in mid-February, it would already have the deal with GMAC.

In 2009, Saab's US dealerships sold 8,680 vehicles, a 59% drop from 2008. GMAC's statement last week says that it "welcomes the opportunity" to still be Saab's preferred finance company. [via autonews]

Topics: spyker, saab

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