Update Regarding SAAB Cars, USA

July 2009

On June 16, Saab Automobile came a step closer to securing its independence.  General Motors entered into a memorandum of understanding to sell Saab Automobile AB to Koenigsegg Group AB.  Both companies are expecting to close the sale third quarter of this year.

Koenigsegg has been producing Swedish super cars since the 1990’s.  They have excelled in “niche” marketing, which should be a nice match for Saab.  Baard Eker, Koenigsegg’s leader, sees a great deal of potential in Saab and couldn’t let the opportunity to aid in refining their soul and spirit pass by.  He is also joined by 2 private investors, one American and one Norwegian.  Eker is excited and passionate about reviving Saab with new product and technology.  Both of which he and his company currently excel in.

As always, we here at Jim Ellis Saab, are here to take care of our valued clients.  Whether you need service for your current Saab or are in the market for a new or certified pre-owned, we are more than glad to assist.  As we stated in previous communications, there are no changes to current warranties, new or certified pre-owned.  We have been taking care of family of clients for 38 years, and don’t intend to stop now!

The details of the sale and transition are yet to be disclosed, but rest assured that a Saab revival is just around the corner.

Please review the following press release.