Saab gets latest lifeline

Tuesday, 13 December 2011 17:31

Saab has been on the edge of collapse since a cash shortage early this year forced it to halt production. Now Automotive News reports that a last-minute payment from China's Zhejiang Youngman Lotus Automobile has given the Swedish carmaker yet another shot. Youngman wants to get a stake in Saab and has taken the first step by giving the company $5 million to cover tax expenses, with another $26.43 million forthcoming for unpaid salaries and $13.18 million more before the end of December. Saab again deferred paying salaries on Nov. 25.

Question is how long Saab will still exist and of course How Cheap Second hand Saabs soon will be ?

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