GMAC Financial Services has been chosen as the preferred lender by Spyker Cars N.V. for the 500 Saab dealers in North America and globally.

These dealers were acquired through Spyker’s recent purchase of Saab Automobile from General Motors Co. Under this lender agreement with Spyker that takes effect immediately, GMAC is to supply dealers with inventory financing and retail auto loans. GMAC spokesman Tony Sapienza said that auto leasing is not included in the deal however GMAC is thinking about offering leases in some markets. Sapienza added that all the Saab dealers have received retail financing from GMAC and that a majority of them has received inventory financing. He clarified that the dealers may continue to operate under their existing lending agreements with GMAC. He said that since the company has had a long-term relationship with these dealers when they were a part of GM, it should be “an easy transition.”

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Tags:car news, gmac, Saab, Spyker, spyker gmac financial services, spyker saab gmac
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If you thought that after buying Saab, Spyker will forget about this project it’s time to think again, as CEO Victor Muller confirmed the fact that the company is working had on the Porsche Cayenne Competitor dubbed D12 Peking to Paris.

For those who don’t know the D12 Peking to Paris Concept was launched back in 2006 at the Geneva Motor Show but the project had been put on hold in November, when the fight to buy Saab began. Still, Muller said in an interview at the Geneva Motor Show, that the project will not be accelerated due to the facilities, parts and technology it has at its disposal after Saab was bought. Regarding its final name we are not quite sure about it! The name might change from D12 (12 means that it will carry a V12 engine) into D8, because it might use the 6.2-liter V8 engine found also on the Cadillac CTS-V. Photo gallery after the jump!

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Tags:car news, Spyker, spyker cayenne rival, spyker d12 peking to paris, spyker d8 peking-to-paris
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It’s official! General Motors announced today that the Saab sale to Spyker Cars NV was finalized! According to the manufacturer, Saab and Spyker will operate under the Spyker (AMS:SPYKR) umbrella and the Dutch firm will assume its responsibility for Saab operations.

“This transaction represents the successful outcome of months of hard work and intense negotiations, all aimed at securing a sustainable future for this unique brand, and we are pleased with the positive outcome,” said John Smith, GM vice president for corporate planning and alliances. “This is a great day for Saab employees, dealers and suppliers, and a great day for millions of Saab customers and fans worldwide.” “Throughout negotiations over the past year, GM has worked with many parties, including governments and investors, to find a solution for Saab,” said Nick Reilly, president, GM Europe. “I’m very pleased that we could come to a positive conclusion, one that presents a viable future for Saab and preserves jobs in Sweden and elsewhere.”

Tags:car news, Saab, saab deal, saab sale, saab sale completed
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Despite being ousted from a deal by Spyker to purchase Saab from General Motors Co., Russian investor Vladimir Antonov insists that he is still lending to Spyker and that he will continue to be a co-owner/shareholder of the Spyker-Saab group.

Last Friday, Antonov revealed that he had asked that a private investigation be opened that aims to clear his name. The results of the probe would then be sent to GM to convince the carmaker to include him in the deal. Antonov said that he has chosen to make a stand against what the media have said by getting a “large and globally renowned investigation agency, which has former FBI and CIA agents among its employees.” Continued after the jump!

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Tags:car news, saab deal, saab sale, saba, vladimir antonov saab-spyker deal
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To sustain profitability, Spyker has to raise more money for its $400-million acquisition of Saab. Making this goal more complicated is the fact that Spyker has to achieve this amid the changes in the global automobile industry.

Last month, Saab avoided closure when Spyker CEO Victor Muller snapped it up. But now, Spyker faces the challenge of doubling Saab’s production, rolling out new models and building a robust distribution network. These activities mean that Spyker will require hundreds of millions of dollars in new investment. Tim Urquhart, analyst at IHS Global Insight, said that Spyker’s would be forced to ask investors for additional capital. Continued after the jump!

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Tags:car news, Saab, saab profits, Spyker, spyker saab deal
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The $74 million purchase by Spyker Cars NV of Saab from General Motors Co. has been approved by Spyker’s shareholders two weeks after the deal was made a couple of weeks ago.

Spyker’s Chief Executive Victor Muller told reporters on a conference call that the combined company would delist from the Euronext Amsterdam exchange and seek listings on the London Stock Exchange and the Stockholm Stock Exchange. Even as Saab and Spyker didn’t make any money the past decade, Muller has a target to be profitable in 2012. Continued after the jump!

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Tags:car news, Saab, saab sale approved, saab-spyker
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In efforts to scale up production and reduce manufacturing costs, Spyker Cars has begun production at a plant in central England.

Spyker Cars, which is purchasing Saab from General Motors Co., has transferred the assembly of its new Aileron model from Zeewolde in the Netherlands to a plant in Coventry, run by its supplier CPP Manufacturing. Coventry had been where Jaguar had its car production at the Browns Lane factory until it switched to Castle Bromwich in 2005. Peugeot also had a plant based in Ryton, near Coventry, which closed in 2007, resulting to the loss of 2,300 jobs. Spyker said that at the Coventry plant, production capacity can reach five cars a week in one shift. In a statement, Spyker CEO Victor Muller explained that since more than half of its components are sourced from the UK, moving there will bring “considerable efficiency savings.” Spyker revealed that CPP Manufacturing has plans to add 40 jobs, increasing staff at the plant to about 150. Last November, the company disclosed that the transfer would result to the loss of 45 jobs in the Netherlands.

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Tags:car news, Spyker, spyker england plant
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Spyker Cars has many hurdles ahead of it before it achieves its target of returning Saab to profit by 2012. The first task on hand is to get financing for it’s the acquisition.

If you haven’t heard of Spyker before it made a successful bid to buy Saab from General Motors Co., don’t feel left out since this is really just a tiny Dutch luxury carmaker that produces a few dozen handmade sports cars per year. Spyker plans to recapture customers for Saab by focusing on three or four niche models. Continued after the jump!

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Tags:car news, Saab, saab profits, Spyker, spyker saab profits
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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. Continued after the jump!

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Tags:car news, Saab, saab finacing, Spyker, spyker saab finacing
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Even before an announcement was made on whether General Motors Co. had reached a deal for Spyker Cars NV to acquire Saab, detractors have already come out, one of which is Fiat S.p.A. CEO Sergio Marchionne.

Many inside the auto industry have expressed skepticism about the success that Spyker will experience as new Saab owner. Many doubt that the new company, dubbed Saab Spyker Automobiles, will be able to survive in this climate due to the fact that neither company is profitable and because of Spyker’s size. Continued after the jump!

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Tags:car news, Saab, saab-spyker, Spyker
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