World Auto News & Reviews

For the second time this month, and shortly after the break up in talks with the Hawtai Motor Group, Saab’s parent company Spyker Cars N.V. today announced that it has signed a Memorandum of Understanding (MoU) with a new Chinese company to provide fresh funds for the deeply troubled Swedish automaker. This time Spyker signed a tentative finance and import deal with Pang Da Automobile Trade Co., Ltd (Pang Da), said to be China’s largest publicly traded automobile distributor with over 1100 dealerships in the country.

This year marks the 25 anniversary of Saab’s Convertible model that was first launched under the 900 nameplate and later on, the 9-3 moniker, which is still used today. And while the Swedish firm’s current financial woes don’t allow for a more appropriate celebration, Saab released some key facts and figures on its drop top model.

The convertible’s history started in 1983 at the Frankfurt Motor Show, where Saab unveiled a new concept model with a powered soft-top based on the 900 liftback. After gauging the public’s reaction, Saab decided to introduce a production version of the four-seater model, which was built by Finland’s Valmet Automotive.

Saab is in financial trouble and its suppliers are getting nervous about the Swedish automaker’s ability to pay for parts.

According to a Reuters report, production this week has been suspended now for a third day as Saab is unable to pay supplier invoices.

Continuing Saab’s ongoing drama, the Swedish automaker announced on Wednesday that its production stoppage could last for several days. Saab was forced to close its production lines on Tuesday following a payment dispute with suppliers.

Saab is celebrating their Independence Day by unveiling the 9-3 facelift in Trollhättan, Sweden.

Dubbed the Griffin, the updated model features a new front bumper, “ice block” headlights, and a revised grille with larger Saab lettering. Out back, the chrome strip on the SportCombi has been jettisoned and the sedan gains a trunk-mounted spoiler. Other highlights include standard fog lights and new 16- and 17-inch alloy wheels.