Saab's Jan Åke Jonsson Steps Down, Disclosed Earnings from 2010, Business Deals in Russia and China

In the automotive industry, two Scandinavian giants, Saab and Volvo, have found themselves in a precarious position after being absorbed by US car manufacturers. One of these, Saab, is currently navigating a challenging path, marked by financial difficulties and uncertainty.

Saab's past integration with its parent company's infrastructure has left the brand in a vulnerable position, with production halts and unpaid bills causing concern. However, the company is not without hope. Saab has entered into strategic partnerships to boost sales, particularly in China and Russia.

Beijing Automotive Industry Holding Co (BAIC) is aiding Saab in its efforts to increase sales in China. This investment partner is proving to be a valuable asset, helping Saab to navigate the complex Chinese market. In addition, Saab has entered into an agreement with China Automobile Trading Co. LTD (CATC) for the sale of Saabs in China.

In Russia, Armand Import has taken over all marketing, sales, and distribution responsibilities for Saab. This move is expected to help Saab regain its footing in the Russian market.

Saab's future looks promising, with the anticipated release of the new Saab 9-3 by October 2012. Previewed at the Geneva PhoeniX Concept, the new 9-3 is expected to invigorate Saab's sales, helping the company to return to profitability.

Despite these positive developments, Saab has had to face some tough times. The company reported losses of €140 million for the year 2010 on sales of 32,058 units. Jan Åke Jonsson, who has been at the helm of Saab for nearly 40 years, announced his retirement effective in May 2011. Håkan Buskhe will take over as CEO, bringing a fresh perspective to the company.

Victor Muller has been appointed as the temporary CEO until a replacement is found for Jonsson. Muller's task is to steer Saab through these turbulent times and position the company for a successful future. Vladimir Antonov, a Saab representative, has reassured the public that the bills issues are not a cause for concern.

Despite the challenges, Saab is currently under the ownership of Koenigsegg, a Swedish supercar manufacturer. The company's vehicle production increased by over 50% from 2009 to 2010, indicating a slow but steady recovery. Saab is anticipating more losses in 2011 but hopes to return to profit in 2012, with the help of these new distribution deals and the upcoming release of the Saab 9-3.

In conclusion, Saab's journey has been a challenging one, but the company is not giving up. With strategic partnerships, a new CEO, and the anticipated release of the Saab 9-3, Saab is looking towards a brighter future.

Saab's Jan Åke Jonsson Steps Down, Disclosed Earnings from 2010, Business Deals in Russia and China