Managing the Financial Side of Commercial Fleets

Saab Cars North America Hires Administrator to Oversee Operations

December 21, 2011

ROYAL OAK, MI – In the wake of the bankruptcy announcement on Dec. 19 by its Swedish counterparts (Saab Automobile AB, Saab Automobile Tools AB, and Saab Powertain AB), Saab Cars North America (SCNA) announced it has chosen an out-of-court resolution for its operations. The automaker has selected financial advisor McTevia & Associates to direct the process.

The company said it’s committed to finding a way to provide warranty coverage for model-year 2010 and 2011 Saab vehicles. General Motors had announced earlier this week that it will honor Saab warranties for model-years 2009 and earlier.

SCNA said it is investigating all options to quickly reinstate its parts business in North America. The company also said Saab Parts Company in Sweden is still operational and hasn’t been impacted by the Saab Automobile AB bankruptcy announcement.

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