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Saab's latest Chinese owners facing their own credit woes

Poor Saab, it can't seem to get a break. General Motors couldn't seem to make a go of it, neither could Spyker, and now it seems that its latest owner is encountering some problems of its own.
That owner, of course, is National Electric Vehicle Sweden, a Swedish holding company owned by Chinese investors. NEVS recently restarted production at the Saab plant in Trollhättan, Sweden, and had some ambitious plans for the brand's revival, but it appears to have run out of cash.
This according to a report in The Wall Street Journal, which discovered that NEVS is having trouble paying its suppliers. One such supplier, called Labo Test, has reportedly been owed some $22,000 by NEVS since February, and without payment, petitioned the Swedish government to place NEVS into bankruptcy proceedings. If that seems a little extreme to you over twenty-two grand, it would seem the parties agree, as the petition has reportedly since been withdrawn.

GM recalling 8.4M cars, 8.2M related to ignition problems

General Motors today announced a truly massive recall covering some 8.4 million vehicles in North America. Most significantly, 8.2 million examples of the affected vehicles are being called back due to "unintended ignition key rotation," though GM spokesperson Alan Adler tells Autoblog that this issue is not like the infamous Chevy Cobalt ignition switch fiasco.
For the sake of perspective, translated to US population, this total recall figure would equal a car for each resident of New Hampshire, Rhode Island, Montana, Delaware, South Dakota, Alaska, North Dakota, the District of Columbia, Vermont and Wyoming. Combined. Here's how it all breaks down:
7,610,862 vehicles in North America being recalled for unintended ignition key rotation. 6,805,679 are in the United States.

Junkyard Gem: 2004 Saab 9-5 Arc Wagon

As I work on my project of documenting automotive history via the machinery I find in car graveyards around the country, blank spots in the junkyard record keep showing themselves. I've remedied the lack of discarded BMW 3- and 5-Series cars in recent months, through the E46 and E39 respectively, and now I'm trying to move past the 900 in the Saab timeline. We've got the 9000 covered, and now it's the turn of the 9-3 and 9-5. Here's an '04 9-5 Arc Wagon, found in a Denver yard recently (I shot a 9-3 on the same trip and you'll see it in the near future). General Motors took over Saab in 2000, after more than a decade of 50% ownership, and so the 9-5 (or 95 if you prefer) had plenty of Opel/Holden/Vauxhall DNA in its cells. Its closest American-market relative (other than the 9-3) was the Saturn L-Series. However, you couldn't get a Saturn with a proper Saab engine under the hood, and by "proper" we mean one descended from the original Triumph Slant-4. This 2.3T turbocharged version sent 220 horsepower to the front wheels, making this a nicely quick wagon. It appears that this car endured some lean times as it approached the end of its road, with the kind of leaky-side-glass repair you do only when you know you're a car's final owner. You could get the 9-5 Wagon as the Linear, Arc, or Aero models in 2004. The Aero was the factory-hot-rod version, while the Arc was more about luxury. The leather seats in this Arc still look pretty good. Even though this car's ancestry is more German than Swedish, it has the traditional Saab console-mounted ignition switch. When it came time for The General to sell Subaru Imprezas with Saab badging, however, the ignition switches stayed in the non-Saab locations. At least the Saab-badged Chevy Trailblazer had the switch in the Trollhatten-approved location. It doesn't look as quirky as the early Saabs, which were born from Flying Barrels, but it stood up well against the competing cars offered to America's ever-shrinking pool of station wagon shoppers. Built in Sweden by Swedes! Would this have happened with an Audi wagon?   Featured Gallery Junked 2004 Saab 9-5 Arc Wagon View 26 Photos Auto News Saab Automotive History Wagon Junkyard Gems