Article: Upcoming auction of new Saabs by Ally Financial, October 26, 2012

[Dave T]

Ally Financial is auctioning another lot of new 2011 Saabs that were previously stored at various ports, mainly Newark and Port Hueneme, very soon.

More news as soon as it is received!

[Dave T]

Still working on this. If you are interested, contact a dealer because it could be very, very soon.

[nordwulf]

I wonder how many new Saabs are left. Dealers seem to have a bit of a hard time selling 9-5 at $20K off and 9-3 at $15K off already.

[Dave T]

BREAKING NEWS: 22 Saabs will be auctioned on Friday, October 26, 2012. Information will be released on the SmartAuction system, operated by Ally Financial, on October 25.

Further information is planned to be covered here at Saabworld.net!

[Dave T]

More information is available. All cars have automatic transmission.

Port Hueneme, California
(7) 9-3, all Jet Black except one is Carbon Gray
(2) 9-3 SportCombi
(1) 9-3X

The Carbon Gray 9-3 is missing the cover to the front bumper tow hook cover. The floor price, which does not include auction fees or transportation, is now a bit lower than 50% of MSRP. For the 9-3 sedans, they range from 15,644 to 16,094. This might be a chance to get a 9-3 for a little under $20,000 depending on what expenses a dealer incurs to get the car for you.

(1) 9-5
(6) 9-5 Premium

Brunswick, Georgia
(1) 9-5 Premium
(1) 9-3 XWD

Newark, New Jersey
(1) 9-3 XWD
(1) 9-5 Premium
(1) 9-4X, Diamond Silver

The 9-5 MSRP (retail price) range from $47,650-49,145 but the floor price for bidding is $21,632-$22,115

The lowest floor price is for the 9-3 XWD in Newark, which is $14,726 and a MSRP of $36,815. However, this car does not start and does not hold a battery charge. It has a 12" crack in the rear bumper, 3 scuffs, 1 chip, as well as one missing key. Not all of the cars are damaged. Most are not damaged, including the last new 9-4X!

Except for the Brunswick, Georgia 9-5 (white) and the Carbon Gray 9-3, all cars are black or silver.


Only 9-4X being offered. Probably the last auction for U.S. buyers

[nordwulf]

I found this in an article:

Ally has been selling Saab's 900 vehicles in the U.S. and has generated about $17.6 million in gross sale proceeds. About 26 vehicles remain unsold as of Oct. 17.

The legal battle between Saab Cars North America, a few other parties and Ally continue. SCNA should be history pretty soon though. I am sure the lawyers will come out as the big winners.

Plan from Saab, unsecureds may be rivaled - The Deal Pipeline

Saab and the committee filed their liquidation plan and its related disclosure statement on Oct. 17. Two days later, Ally objected to the disclosure statement, saying Saab and the committee employed "tactics ... to frustrate Ally's opportunity to meaningfully participate in the reorganization process, despite the fact that Ally is the largest creditor of the estate."

Saab's bankruptcy was largely brought on by a dispute with Ally regarding the vehicles stuck at the U.S. ports. Documents show that Saab hoped to negotiate a settlement with Ally, but discussions broke down, leading Saab to notify the dealerships of its intention to seek court protection.

Some 41 Saab car dealerships then filed a Chapter 11 petition against Saab on Jan. 30. Thirty-nine other dealerships later joined the petition. Saab has 188 dealerships in the U.S.

[Dave T]

It's 5 p.m. and the auction ended two hours ago. This is an end of an era. All of the new Saabs in the U.S. are now in dealer hands.

[Dave T]

This 5th auction was the last. There are no unsold cars at the port anymore. Prior to the 5th auction, Ally Financial disposed of 620 cars to a distributor in the U.S. who placed some cars with dealers, including non-Saab used car dealers and rental fleets.

Although I am uncertain how current the information is, Saabs have been available at Alamo Car Rental at Orlando Airport (9-3 Convertible) and at National Car Rental at Reagan Washington National Airport (2011 9-3) and Denver Airport (9-5).