Bankrupt Saab cancels new vehicle support.
Owners of Saab vehicles purchased after the automaker was sold by General Motors are learning that their warranty coverage has been suspended. That decision was announced by Saab following its December 19 bankruptcy filing in Sweden reports Autoweek.
Owners who have warranty work that is in progress or are awaiting payment for work completed will find that those payments are being withheld. Included are new car, powertrain, emissions and parts warranties as well as for safety belts, airbags, towing and recall campaigns. Even work that is considered “goodwill” will now cost the owner as no charge maintenance no longer exists.
Saab Cars North America has advised owners to keep their receipts until further notice. Customers may be able to recoup some or all of their costs following liquidation of the company.
GM says that all 2009 and earlier cars marketed by GM will be covered if Saab is not able to handle its obligations. A few 2010 models sold in Canada will also be covered. GM sold off Saab in February 2010 and all vehicles marketed from that month on were handled by the new company.
Dealers are likely to lose much of their investment regardless of how liquidation proceeds. Cars, parts and property associated with Saab are suddenly devalued with little to no chance that new supplies will show up or willing customers tio stop by to make a purchase. Approximately 2,400 new cars are still in the U.S. inventory — buyer beware: you’ll lose out if you purchase one.
In related news, China’s Youngman has expressed interest in purchasing some parts of the now defunct Swedish automaker. The company, understanding that GM blocked its purchase of Saab because of proprietary technology, expressed interest in buying the parts that aren’t directly related to the technology that GM provides. Particularly, as reported by Automotive News, Youngman is interested in buying Saab’s “Phoenix” platform which was to be the platform driving the next generation Saab models. About 10 percent of those components are supplied by GM, but a Youngman spokesman says that it can “decouple” those parts from the Phoenix line and develop those parts in-house.