Saab 9-3 Convertible Luxury Sports Car

2010 Beijing Auto Show will be highlighted by the alternative-energy cars. Saab offers the 2010 model of diesel powered 9-3 Convertibles with 7% reduction in fuel consumption and CO2 emissions while keeping the performance as good as it was in older models. What the carmaker would like to emphasize is that there is no noticeable loss in performance.

Saab 9-3 Convertible Sports Car

The Saab 9-3 Convertible handles as well as anything else out there. Steering and breaks on the Saab 9-3 Convertible's are masterfully engineered to be quick and sure. The standard engine pulls its weight with aplomb, and for those with a thirst for more power, the turbocharged 210-horsepower is deceptively quick.

Saab's new concert quality 300-watt sound system has no equal. Ventilation settings and seat positions can be saved in Saab'ss onboard computer. For those who seek even more performance, check our home page for links to retailers who offer 2011 Saab 9-3 convertible accessories you can order online. The BMW 3 Series interior space is not as large as the Saab 9-3 and neither is the trunk as cavernous. The new 9-3 is an above average entry-level luxury sports car that will give people cause to think twice about BMW.

There are two different versions of the Saab 9-3's new turbocharged 2.0-liter inline four-cylinder engine. 175 horsepower and 195 pound-feet of torque are produced by the low-pressure turbo base engine coupled with a five-speed manual standard or a five-speed automatic.

The change is due in part to Saab’s ongoing EcoPower Technology development strategy, which concentrates on optimizing efficiency and minimizing the environmental impact of its products. The low emission diesel variants with the 150 hp/110 kW, single turbo 1.9-liter engine can generate 145 g/km CO2and fuel consumption of only 5.5 l/100 km over the combined cycle. Cars that have the 180 hp/132 kW, two-stage turbo power results to 144 g/km and 5.4 l/100 km. Acceleration from zero to 100 km/h and top speed are largely unchanged. However, fifth gear 80-120 km/h times are raised by less than one second.

The high-pressure Saab 9-3 Convertible turbo engine option produces 210 hp and 221 lb-ft of torque with a six-speed manual or a five-speed automatic. The 2011 Saab 9-3 Convertible offers 205 horsepower from its turbocharged four-cylinder coupled to a five-speed manual or a four-speed automatic.

The new 2011 Saab 9-3 convertible comes as a 4-door, and a convertible, both of which are offered with a choice of three trim levels. The new 2011 "Linear" model comes with full leather seating, fabric door panels and gray trim in addition to a 150-watt stereo, keyless entry, the OnStar system, stability control and 15-inch alloy wheels. The "Arc" versions offers wood veneer and leather with poplar accents, power front seats, automatic climate control, a 300-watt audio system and 16-inch alloy wheels. (2011 Saab 9-3 Convertible facts)

The efficiency gains have been achieved by a series of fine-tuning measures including: the use of wider gear ratios, a longer final drive, idle and low engine speed remapping, and an optimized tire and wheel choice. These variants, which are offered only with manual transmission, are now being built in Trollhättan, Sweden, like all Saabs. In several markets, customers are offered with valuable CO2 tax-related benefits and are being introduced alongside 9-3 Sport Sedan and Sport Combi diesel models, which already feature the improvements.

2010 Saab 95 price Announced for British market

The SAAB 9-5 price for UK's market was announced today and customers can already purchase them from dealerships.and prices start at £26,495 for an entry level model.

The 2010 Saab 95 is available in two trim levels, Vector SE and Aero, and a choice between various diesel and petrol engines. The diesel versions of the 2010 Saab 95 include the 2.0TiD with 160PS and the 2.0TTiD with 190PS. The petrol 2010 Saab 95 models are powered by either a 1.6T engine with 180PS,

Equipment and technology comes in two specifications; Vector SE and Aero, both with a selection of diesel and petrol engines. Both the 2.0 TiD diesel and 2.0-litre petrol engines are available from launch with the Vector SE trim and Saab will add a 1.6T petrol and 2.0TTiD twin turbo diesel for the 2011 model year. The 2.0





Press Release

Saab’s new 9-5 enters the UK market priced at just £26,495 OTR for the 2.0TiD
160PS Vector SE model, making it a highly competitive proposition for buyers in
the premium saloon sector. Cars are available to order from Saab dealerships
today.

Positioned by Saab as its top-of-the-line contender in the premium saloon
segment, the all-new 9-5 is the most technically advanced car ever produced by
the company. In addition to owning a very well equipped vehicle, customers
will gain a driving experience that matches the excitement of Saab’s bold
Scandinavian design language.

The range of high-tech features on offer includes: an aircraft inspired
head-up information display (HUD), adaptive headlights (Bi-xenon Smart Beam),
MP3/iPod integration, Harman Kardon audio system, DAB radio, adaptive cruise
control, DriveSense adaptive chassis with continuous damping control, keyless
entry and starting, dual-zone climate control, adaptive parking assistance, and
XWD with electronic LSD – the industry-leading all-wheel-drive system.

The all-turbo powertrain line-up carries forward Saab’s rightsizing engine
strategy, focusing on responsible performance through the development of highly
efficient and four cylinder turbo engines. Starting at 1.6-litres* (180PS) all
transmissions are six speed and with diesel power, CO2 emissions as low as 139
g/km are also on offer.

The full new 9-5 model range pricing in the UK is as follows:

Trim	Fuel	Engine	On-the-Road
Vector SE	Diesel	2.0TiD 160PS	£26,495
		2.0TTiD 190PS MY11*	£28,495
	Petrol	1.6T 180PS MY11	£26,695
		2.0T 220PS	£28,195
Aero	Diesel	2.0TTiD 190PS MY11	£31,495
	Petrol	2.0T 220PS	£31,195
		2.8T 300PS	£37,995

The new Saab 9-5 features a generous array of standard equipment across the
range. There are two levels of specification:

Vector SE

The ‘Vector SE’ specification is the starting point for 9-5 ownership, and is
available to order at launch with the 2.0-litre TiD diesel engine or the
2.0-litre petrol engine. A 1.6T petrol and 2.0TTiD twin turbo diesel engine will
be available to order from model year 2011 (mid-2010). Highlights include
leather/textile comfort seats, auto dimming interior mirror, AUX & USB sockets
with MP3/iPod integration, bluetooth phone integration system, heated front
seats, keyless push button engine start/stop, park assist (front and rear), rain
sensor windscreen wipers, 17” alloy wheels, electronic climate control (dual
zone) and cruise control.

Aero

Saab customers can opt for the higher Aero specification with prices starting at
£31,195 for the 2.0T petrol engine, alongside the flagship 2.8T petrol engine
with XWD. The 2.0TTiD twin turbo diesel engine is available to order from model
year 2011 (mid-2010). In addition to the Vector SE’s standard features,
highlights include 19” alloy wheels, Aero front and rear bumpers, twin exposed
tailpipes, bi-xenon headlights, headlight washers, dual electric seats, leather
sport seats, alloy pedals and sport chassis.

UK Managing Director Jonathan Nash said: “We are very excited about the new
9-5 and we are confident it will be a great success for our dealers in the UK.
The new Saab 9-5 combines the emotional appeal of a contemporary, modern Saab
with all the rational appeal of a spacious five-seater premium saloon, with high
levels of standard equipment, innovative functional features and competitive
pricing.”

The Saab 9-5 will be built at Saab’s home plant in Trollhättan, where it has
been engineered and chiefly developed.

More about the new Saab 9-5 by going to www.saab.co.uk

GMAC to provide financing for Saab dealers and customers

* GMAC chosen as financial services provider to Saab Automobile
* Preferred source of wholesale and retail financing for dealers and customers

Trollhättan. Following its successful launch as an independent company, Saab Automobile announced today that it has selected GMAC Financial Services as the preferred provider of wholesale and retail financial services for qualified Saab dealers and customers in many different countries around the world.


Jan Åke Jonsson, CEO of Saab Automobile AB said: "Today's announcement is excellent news for the Saab organization as a whole and also for Saab's customers. It not only makes available competitive financing, but also provides valuable continuity for the dealer network which already uses GMAC services."



Bill Muir, GMAC President said: "We are delighted to be able to build on our strong relationships with Saab dealers and customers, and we look forward to working with Saab as it begins a new chapter in its history."
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Saab Spyker 9+ Tribute Concept Car

Automotive designer Eduard Gray has sent in some renderings of his ideas for the first car to come from the Saab purchase of Spyker. Based near Saab headquarters in Trollhättan, Sweden, Gray believes the drawings could land him a job with the Saab Design Studio Team.


“The union of Saab and Spyker presents a unique opportunity to create a design that takes the best of each brand and distills their qualities into a single product, the designer says in his website.”


Indeed, his six drawings of the Saab Spyker 9+ Tribute shows elements of both companies. Gray calls the work "a quick expression of my optimism for the future of the brand."


Spyker lends us its supercar chassis with a mid-mounted engine and low down aerodynamics while Saab contributes with the style, character and engineering making for a design that is as pleasant to look at as it is to drive.”



Source:dubdaily

SPYKER PROVIDES FURTHER DETAILS ON SAAB ACQUISITION

ZEEWOLDE, The Netherlands (1 February, 2010) - In advance of the General Meeting of Spyker shareholders, to be held on 12 February 2010, and which was convened on 28 January 2010, Spyker Cars N.V. ("Spyker") provides further strategic and financial details regarding its acquisition of Saab Automobile AB ("Saab").


ACQUISITION RATIONALE AND SAAB BUSINESS PLAN

Spyker believes that through the purchase of Saab it has a rare opportunity to acquire and rebuild a global car brand which will be repositioned towards an independent performance-oriented niche car company with an industry-leading environmental strategy. Saab's brand DNA is unique and rooted in its aeronautical heritage, innovative and independent thinking and its Swedish origins. Spyker fully supports Saab's Business Plan which will be implemented by Saab management. The Business Plan, drawn up by Saab management over the past ten months, was analysed by Spyker in assistance with Booz & Co and KPMG Transaction Services, advisors to Spyker. The Business Plan has also been analysed and supported by several advisors to the Swedish Government and the EIB.

At the General Meeting, Spyker Cars N.V. intends to adopt a resolution to change its name to Saab Spyker Automobiles NV ("Saab Spyker"). This entity will operate Spyker and Saab as two separate operating companies, each focused on its distinct target markets with their respective vehicle lines. As previously stated, Saab Spyker is committed to execute the Saab Business Plan. It is the intention to enhance it in several areas. The highlights of Saab's strategy will be:

* Saab will be a stand-alone niche manufacturer with three to four model lines: 9-3 (sedan, hatchback, sports estate, X and convertible) and 9-5 (sedan, sports estate and X) and the 9-4X for both the US and European markets. In addition, Saab will investigate the potential of adding a fourth smaller car line ("9-1") in due course provided that the positive development of the smaller car segment continues. However, this model is currently not envisaged in the Business Plan so if the outcome of the investigation is positive, additional financing to develop this model could be required.

* Saab's product portfolio will be renewed completely, beginning with the launch of the new 9-5 early this summer, the new 9-4X in early 2011 and the new 'all Saab' 9-3 in 2012.

* Saab will continue to be repositioned against other brands such as Audi (A4/A6) and BMW (3/5 series) as a premium brand, leveraging its strong and unique brand heritage.

* Saab's Technical Development Center in Trollhättan has full capability in developing complete vehicles and will continue to do so. In areas such as safety, environment, driving characteristics, practicality, turbo technologies and several other innovations, the Saab brand is among the best in the industry.

* With Trollhättan as one of the most efficient mid-size car plants in Europe, production and sales volumes are aimed to be rebuilt to recent pre-crisis levels of about 100,000 to 125,000 vehicles including the 9-4X built in Mexico.

* The current dealer network will be re-energized with a new sales and distribution approach in certain markets, which will be implemented during 2010.

* The economies of scale of the on-going collaboration with GM after Closing the acquisition (February 2010) will continue to be leveraged in sourcing via ancillary agreements, with independent sourcing gradually increasing to reduce GM dependency and obtain improved access to other suppliers and the co-development of unique innovations.

Saab Spyker believes that its two brands, both deeply rooted in aeronautical and automotive history, will benefit from sharing certain assets and technology services. Examples include but are not limited to:

* Saab's extensive global network of 1,100 dealers.

* The extensive engineering know how and innovative technologies available at Saab.

* Sharing of activities in marketing & sales: i.e. merchandising, promotion & sponsorship activities, etc.

In the future, the two brands will be able to share certain parts and components and expect to obtain access to supplier and partner resources not available to Spyker or Saab individually today.


FUNDING OF SAAB

The Saab Business Plan requires approximately $1 billion in peak funding for Saab in advance of the return to profitability, forecast to occur by 2012. The funding is provided in part by GM, through $326 million Redeemable Preference Shares ("RPSs"), and in part through other contributions, which concern various substantial contributions to the funding of Saab's Business Plan on favorable terms for supplies by GM to Saab and deferred payments from Saab to GM. The remaining amount, apart from cash at bank, is to be provided by a EUR 400 million loan from the European Investment Bank for certain R&D projects at Saab. Securing this EIB loan is a condition precedent to closing of the Saab acquisition ("Closing").

With this financing in place, the business plan does not envisage any future funding being required, neither from Spyker or elsewhere, for Saab to return to profitability. The business plan targets car production and sales at or below historical levels of 100,000 to 125,000.


Explanation on the two sources of funding:

Redeemable Preference shares
At Closing, GM will convert USD 326 million of pre-closing receivables on Saab into RPSs in Saab. The issue of the RPSs will therefore NOT cause any dilution for the shareholders in Spyker. The voting rights attaching to these RPSs constitute 0.0005% of the total voting rights in Saab. The other 99.99% of the voting rights (100% of the ordinary shares) will be held by Spyker. Since the RPSs are capital and not a loan, no interest is due at any time by Saab. The RPSs carry no dividend from Closing until December 31, 2011. A dividend entitlement of 6% starts from January 1, 2012 through June 30, 2014 and increases over time to 12% as from July 1, 2014 until the scheduled redemption date of December 31, 2016. The dividend over 2012 will be added to principal, but as from fiscal year 2013 the dividend is payable in cash. Should Saab have insufficient distributable reserves to pay the cash dividend it will be added to principal increased with a penalty factor of up to 4%, but such that the total dividend entitlement will never exceed 12%.

In the period 2010-2016, the average dividend payable is about 4%, which is considerably below the average interest on a comparable subordinated loan.

The RPSs qualify as equity and therefore, if Saab cannot pay dividends or redeem the RPSs, Saab will not be in default but the RPSs will simply continue to accrue. Also, the RPSs cannot be redeemed as long as the EIB loan is not yet fully repaid. The Saab Business Plan envisages redemption of the RPSs starting in 2016 out of retained profit, without additional funding (from Spyker or anyone else) being required.


EIB loan
The Share Purchase Agreement is subject to the execution of a EUR 400 million loan agreement between Saab and the European Investment Bank ("EIB"), for which a guarantee was obtained from the Swedish Government on January 26, 2010. This loan will be issued to Saab. All amounts payable by the EIB are specifically earmarked to the Euro for designated Saab projects and capital expenditures and represent 50% of these projects or capital expenditures. The projects mainly relate to increasing fuel efficiency and clean car technology. The remaining 50% is funded by Saab itself pursuant to its Business Plan. Spyker will not have any access to the EIB funds which are completely ring-fenced nor will it pay any part of the Purchase Price with proceeds from the EIB loan. The guarantee is subject to approval by the European Commission. Saab and the Swedish Government have provided all required information to the EC prior to the issue of the guarantee so the decision by the EC is expected very soon.


FUNDING OF SPYKER

Spyker's existing bank loans in the aggregate amount of EUR 57 million are refinanced by Tenaci Capital B.V. ("Tenaci"). The terms and conditions of this loan will mirror those of the existing loans it repays, including the right to convert EUR 9.5 million into ordinary shares at EUR 4.00 per share. The term of the loan is 12 months and the interest 10 percent above Euribor. After payment of the last instalment of the Purchase Price, Tenaci has the right to collateralize the loan on terms and conditions identical to those on which the existing loans were collateralized.

The Purchase Price of Saab amounts to USD 74 million (EUR 53.23 million at the current exchange rate of 1:1.39). The first instalment of USD 50 million, to be paid on Closing, will be paid as follows: USD 25 million is borrowed from Tenaci at the same interest rate as the other funding extended by Tenaci, without the right to convert into shares. This amount is currently already in escrow with General Motors.

The other USD 25 million is financed through a share issue, largely through a commitment from GEM Global Yield Fund Ltd under an equity facility concluded between Spyker and GEM. Spyker currently does not intend to draw in excess of USD 25 million under this facility.

The second instalment, USD 24 million, will be payable on July 15, 2010. Spyker has been approached by various investors to fund this instalment. Spyker intends to finance this amount primarily through senior debt (senior to the debt owed to Tenaci), but does not rule out other alternatives. Spyker has committed to pledge its assets to GM as security for this final tranche.


FUNDING OF TENACI

Tenaci's equity is wholly owned by Investeringsmaatschappij Helvetia B.V., the personal holding company of Mr. Victor Muller. Tenaci obtains its debt funding from sources that wish to remain anonymous and with which Tenaci has entered into non-disclosure agreements. The terms and conditions of Tenaci's own financing do not impact Spyker or Saab in any way.

Tenaci has successfully bought Mr. V. Antonov's current shareholding in Spyker consisting of 4.6 million ordinary shares, subject to closing of the Saab acquisition. Currently Tenaci has no plans to make a public offer on all of the issued shares in Spyker.
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