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It has been a sad week for our beloved Saab marque, all of the loyal employees, dealers & enthusiasts like us.

We have waited until now before posting in case of some better news but nothing concrete has come so far.

However, we all remain hopeful with stories of organisations possibly interested in buying Saab. Apparently Under Swedish law it is possible to sell a company complete whilst under bankruptcy. So let’s all keep our fingers crossed for a good outcome in the end.

We are sorry that we cannot add any more at this stage but will keep you updated as we hear more.

In the meantime I am sure that you will all join me in sending our very best wishes for Christmas all of our friends in Trollhattan & everyone involved with Saab worldwide & hope that we hear some better news soon.

A Merry Christmas to you all.

It has been a sad week for our beloved Saab marque, all of the loyal employees, dealers & enthusiasts like us.

We have waited until now before posting in case of some better news but nothing concrete has come so far.

However, we all remain hopeful with stories of organisations possibly interested in buying Saab. Apparently Under Swedish law it is possible to sell a company complete whilst under bankruptcy. So let’s all keep our fingers crossed for a good outcome in the end.

We are sorry that we cannot add any more at this stage but will keep you updated as we hear more.

In the meantime I am sure that you will all join me in sending our very best wishes for Christmas all of our friends in Trollhattan & everyone involved with Saab worldwide & hope that we hear some better news soon.

A Merry Christmas to you all.

Zeewolde, The Netherlands, 19 December 2011 – Swedish Automobile N.V. (Swan) announces that Saab Automobile AB (Saab Automobile), Saab Automobile Tools AB and Saab Powertrain AB filed for bankruptcy with the District Court in Vänersborg, Sweden this morning.

After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded. The Board of Saab Automobile subsequently decided that the company without further funding will be insolvent and that filing bankruptcy is in the best interests of its creditors. It is expected that the Court will approve of the filing and appoint receivers for Saab Automobile very shortly.  

Swan does not expect to realize any value from its shares in Saab Automobile and will write off its interest in Saab Automobile completely.

Trollhättan, Sweden: The Saab 9-4X crossover and the Saab 9-5 Sedan have both earned a ‘Top Safety Pick’ for 2012, the highest rating for crashworthiness awarded by the Insurance Institute for Highway Safety (IIHS) in the United States for a consecutive year.

“Saab Automobile prides itself on its ability to create vehicles which focus on the safety of the driver and its passengers in real-life situations,” said Per Lenhoff, Head of Safety Development at Saab Automobile.  “It is rewarding to be recognized by IIHS for a Top Safety Pick award for two of our newest products.”

Saab's Real-Life Safety philosophy is based on the fact that no collision is ever the same. Saab safety engineers continuously study how Saab cars behave in real collisions on public roads. The results of these studies are the basis for continued development of both design and safety solutions in cars as well as of Saab's in-house crash testing methods.

IIHS (www.iihs.org) is a research and communications organization funded by auto insurers in the US. The test procedures include front impact (offset) and side impact crashes. Seat/head restraints are also tested in a simulated rear-end impact to assess the mitigation of whiplash injuries and the roof structure is tested to assess a vehicle rollover crash.

Performance is rated as ’Good’, ’Acceptable’, ’Marginal’ or ’Poor’ in each of the tests and to achieve a ’Top Safety Pick’ award, cars must achieve the highest rating in all four procedures and should also be fitted with ESP^®.

Earlier this year, the Saab 9-4X and the Saab 9-5 both earned a Top Safety Pick for 2011.