Saab 9-3 Sportwagon (2005 – 2011) Review

June 2007

Good looking station wagon based on 9-3 Epsilon floorpan. Called SportCombi in Europe. Engines up to a 250bhp 2.8 24v V6 turbo. Luggage space 419 litres seats down, 1,273 litres seats up. Same rear steer as 9-3 saloon, cutting understeer and giving sharper responses. UK prices from £17,995 - £27,795. Diesels from £19,995 for 120 and from £20,995 for 150. Aero to be offered with 210bhp 2.0 turbo or a new 250bhp 2.8 V6 Turbo.

Facelift with UK deliveries from from Autumn 2007.

February 2009

1.9TiD 150hp/110kW down to 137g/km thanks to Saab EcoPower Technology. The 1.9TiD 150hp/110kW engine now produces just 137g/km with combined fuel economy of 54.3mpg. Likewise, the Vector Sport 1.9TTiD 180hp/132kW, twin turbo engine, now produces 139g/km CO2 and has an impressive combined fuel consumption figure of 53.3mpg.

The SportWagon’s figures are also improved, to 144g/km and 51.4mpg. In terms of CO2 grams per horsepower, the twin turbo models (badged 1.9TTiD) are now among the top performers in their class. The efficiency gains, averaging seven percent, have been achieved by a series of fine-tuning measures including: the use of wider gear ratios, a longer final drive, idle and low engine speed remapping, and an optimised tyre and wheel choice. 0-60mph acceleration is unchanged, while fifth gear 50-80mph times are increased by less than one second. The CO2 reductions are offered only with manual transmission.

May 2009

New lower emission diesel Saab 9-3 Turbo Edition comes with 17-inch alloy wheels, leather interior, heated front seats, dual-zone climate control, 9-speaker 150w audio system with MP3 compatibility and cruise control. Priced from £19,995 for the Saloon and £21,071.60 for the SportWagon.

Revised EcoPower diesel engine range to offer lower CO2 emissions and increased fuel efficiency. Alfa Romeo sourced 1.9TiD 150hp/110kW engine now produces CO2 emissions of just 137g/km with combined fuel economy of 54.3mpg. The 1.9TTiD 180hp/132kW twin turbo diesel engine has also been revised, and now produces only 139g/km and has a combined fuel consumption figure of 53.3mpg. The SportWagon’s figures are also improved for both engines, to 144g/km and 51.4mpg. This puts most Turbo Edition variants with diesel engines in VED Band E.

March 2010

Production at Trollhattan by Spyker Cars NV recommenced.

October 2010

General Motors Company and Spyker Cars N.V, today confirmed the details of a binding agreement over the transfer of ownership of Saab Automobile AB of Trollhättan, Sweden. The transaction is expected to close in February and Saab Automobile will exit the orderly wind down process in line with that timetable.

The transaction will be accomplished as follows:

* Spyker acquires from Saab Automobile Investering AB, a subsidiary of General Motors (“GM”), all the issued and outstanding ordinary shares in the capital of Saab Automobile A.B. (“Saab”) for a consideration of USD 74 million (“Purchase Price”).

* The Purchase Price will be paid in two instalments. The first instalment of USD 50 million will be paid on the date of completion of the transaction, expected to take place on or before February 15, 2010 ("the Closing"). The second instalment of USD 24 million will be paid on July 15, 2010.

* The Share Purchase Agreement is subject to the execution of a EUR 400 million loan agreement between Saab and the European Investment Bank (“EIB”), guaranteed by the Swedish Government. Today, the Swedish government announced approval of this guarantee. The guarantee is subject to approval by the European Commission, which is expected shortly.

* Upon completion of the transaction GM will retain redeemable preference shares of USD 326 million. The preference shares represent less than 1% of the voting rights in the capital of Saab. The mandatory redemption date is 31 December 2016 and Saab has the right to request voluntary redemption at any time prior to this date. The preference shares carry a dividend entitlement of 6% starting from January 2012, increasing to 12% as from July 1, 2014. The dividend over 2012 will be added to the principal, but as from January 1, 2013 the dividend is payable in cash. Should Saab have insufficient distributable reserves to pay the cash dividend it will be added to principal increased with a penalty factor.

* In order to allow Saab to operate on a stand-alone basis outside GM, Saab and GM will enter into a number of ancillary agreements. As part of the transaction, Spyker intends to negotiate the acquisition of all the outstanding shares in Saab Great Britain Limited, the UK distribution, marketing and sales company for Saab from General Motors UK Limited.

* Spyker will issue a corporate guarantee not exceeding USD 10 million for Saab’s obligations to and for the benefit of the financing company GMAC.

* Spyker will as soon as practically possible convene a general meeting of shareholders to approve the transaction. Spyker obtained irrevocable voting undertakings to vote in favour of the transaction representing the voting majority of its current shareholders.

* It is the intention to change the name of Spyker Cars N.V. at that general meeting of shareholders to Saab Spyker Automobiles N.V.

* As back-up financing, Spyker entered into a EUR 150 million Equity Credit Line Facility with GEM Global Yield Fund Limited (“GEM”) for a term of 3 years. According to this facility, Spyker may issue shares to GEM at 90 per cent of the volume weighted average price of the shares over a period of 15 trading days following a draw down notice sent to GEM by Spyker. In relation to the GEM facility, Spyker has issued to GEM share warrants in respect of 1,570,000 ordinary shares at an exercise price of EUR 4 per ordinary share. The warrants have a 5 year term.

The object of acquisition

* In spite of media reports that certain parts have already been sold off, the object is Saab as a complete entity and going concern with all IP rights, trademarks, facilities and other infrastructures. The sale of pre 2003 Saab 9-3 and current Saab 9-5 technology to BAIC in December 2009 did not result in any part of Saab’s business being divested or devalued. On the contrary, Saab has already started the production of the new generation Saab 9-5 in Trollhättan.

* Both Saab management and Saab GB management prepared an estimated balance sheet as at 31 December 2009 for the purpose of this transaction. These estimated balance sheets are still subject to final account closing and audit procedures.

* Spyker Cars does not yet have a balance sheet as at 31 December 2009 ready for reporting purposes. As such, it would be premature to show a pro-forma combined balance sheet for Spyker, Saab and Saab GB as at 31 December 2009.

* Therefore Spyker only disclose an indicative combined balance sheet of Saab and Saab GB as at Closing date based on the estimated balance sheets for both entities as at 31 December 2009, adjusted for the impact of the transaction items as at Closing date.

* It should be noted that the indicative closing balance sheet is based on the latest estimated balance sheets of both entities by Saab and Saab GB management which are subject to final closing and audit procedures and therefore subject to change, and does not reflect any potential fair value or purchase price allocation adjustments. The indicative closing balance sheet should therefore not be considered as the actual closing balance sheet, but only as an indication for the assets and liabilities to be acquired at closing date.

February 2011

The new SAAB 9-3 MY12 range, announced, features refreshed exterior and interior styling, backed by a more powerful, fuel-efficient engine range. Replacing the current Saloon, SportWagon, Convertible and 9-3X specifications, the 9-3 MY12 range is distinguished by new front bumpers and signature Saab ‘ice block’ headlamps. Inside, the instrument panel, cabin décor and seat upholstery are all given a fresh look. Two specifications are offered in the UK, SE and Aero.

Under the bonnet, new 2.0-litre petrol engines give 163hp and 220 hp and include direct injection, variable valve timing and twin scroll turbocharging. Combined cycle fuel consumption and CO 2 emissions are reduced on average by 4% across the range.

These new engines join the current 130/160/180 hp 1.9-litre TTiD twin turbo diesel line-up which offers very competitive emissions of just 119 g/km in both the Saloon and SportWagon - class-leading efficiency in terms ofper unit of horsepower for the 180 hp variant. Further fine tuning has now also delivered 119 g/km for the SportWagon, together with equally impressive 62.8mpg combined cycle fuel consumption.

Externally, the 9-3 MY12 range adopts the ‘ice block’ headlamp effect introduced on the new 9-5 Saloon. Inspired by the Aero X concept car, the units have a distinctive blue/green hue in daylight. The grille also features a more prominent, wing-shaped central bar carrying the SAAB wordmark, again like the 9-5 Saloon.

Re-profiled front bumpers include a deep, trapezoidal air intake finished with black, ribbed bars, or a mesh insert for Aero variants. Front fog lamps are fitted as standard, with Aero models featuring a matt chrome surround.

At the rear, the SAAB wordmark replaces badging on the chrome trim and all Saloon variants receive a trunk-mounted aerodynamic spoiler. New 17- inch and 18-inch wheel designs are also offered on SE and Aero respectively.

The cabin also receives a makeover. Titanium metallic-effect trim is introduced around the instrument panel, gearshift molding, doors and glove box, and as an option for the instrument panel fascia. The Aero interior features a graphite fibre-effect for all these items, including the fascia.

SE models are fitted with Leather appointed comfort seats, while Aero models features new Leather sports seats with contrasting stitching, inspired by the Aero X concept car.

In both specifications, a useful storage pocket for small items is fitted to the side of the front seatbacks. Further fine tuning for 9-3 MY12 SportWagon fitted with 130/160/180 hp TTiD engines has further improved emissions and fuel consumption to 119 g/km and 62.8mpg, respectively, over the combined cycle. Like the Saloon, the 180 hp SportWagon clearly leads its class in terms of low emissions and fuel consumption per unit of horsepower, making it the most powerful zero VED estate car available.

More efficient petrol engines deliver an average combined cycle improvement of 4% in fuel consumption and emissions. This is in addition to a 10 hp increase over the current 210 hp top-of-the-line offer. With power ratings of 163 hp (120 kW)/ 320 Nm and 220 hp (162 kW)/ 350 Nm, both new engines are available with front-wheel drive and XWD, Saab’s advanced all-wheel-drive system.

The use of variable valve timing and direct injection improves fuel consumption, emissions and performance. Hydraulically operated vane-type cam phasers enable both the inlet and exhaust valve timing to be adjusted independently, according to varying engine speed and load. The many benefits include a broader spread of torque, higher maximum power and improved fuel consumption.

Direct injection delivers fuel under high pressure directly into the combustion chamber. This enables the separation of air and fuel delivery, allowing improved scavenging of the combustion chamber to give substantially more low-end torque and reduced engine knocking.

A twin-scroll turbocharger is also used, which virtually eliminates turbo lag at low engine speeds. Each scroll on the turbine is fed by a separate exhaust passage from a pair of cylinders, enabling a throttle response comparable to that of a naturally-aspirated engine. Other features include twin counter-rotating balance shafts for smooth running and a forged steel crankshaft for added strength.