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Saab USA Studying Ways to Rescue Warranties

China’s Pang Da abandons plan to buy bankrupt Swedish brand.

by on Dec.21, 2011

Saab USA hopes to resume warranty coverage.

Saab officials are looking for a way to resume warranty coverage for customers who purchased the maker’s 2010 and ’11 products.

The maker announced yesterday it would be forced to suspend coverage for those who bought a Saab after the company was purchased from General Motors in early 2010. The Swedish maker declared bankruptcy on Monday after months of efforts to find a buyer who could save the cash-short company.

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Separately, the Chinese dealer group Pang Da announced on Wednesday that it had abandoned its efforts to purchase Saab.  Pang Da and the Chinese automaker Zhejiang Youngman Lotus had both proposed a rescue plan – but the proposed deal was vetoed by Saab’s former parent, GM refusing to allow its intellectual property to be transferred to the Chinese.

“We’re committed to develop a way to handle warranties for all owners of 2010 and 2011 Saab models,” Tim Colbeck, CEO of Saab Cars USA, told today.  The goal is to “reinstate (warranty coverage) as quickly as we can.”