About Pang Da Automobile Trade Co

Saab has signed a Memorandum of Understanding with Pang Da, otherwise known as the Pang Da Automobile Trade Co.

Interested Saab fans might be asking who is this most recent of suitors for Saab Automobile? Here’s a little of what I’ve been able to find:

  • Pang Da are essentially an automobile sales and service company. They are publicly listed, having raised close to billion in an IPO earlier this year, China’s second largest IPO for 2011 so far.
  • Pang Da have a sales, service and affiliate distribution network of more than 1,100 outlets across China and Mongolia.
  • In 2010, the company was ranked amongst the top 200 enterprises in China, and in the Top 100 service enterprises. It has consistently been listed first amongst automotive service organisations in China.
  • The company is based in Tangshan City, Hebei Province, around 150km east of Beijing.
  • As well as a number of domestic Chinese brands, Pang Da also distribute and service Toyota, Subaru, Audi, Mercedes Benz, Mazda and Honda vehicles in China.

Under the terms of the MoU signed between Saab and Pang Da, the deal is still contingent on certain conditions being fulfilled and documentation completed. There is still some distance to go, however it’s good to become acquainted with a potential future partner.

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  1.  Does it mean that Pang Da have paid the 30m already, and this order is not subject to all the approvals?

    1. As far as I know (it’s still all quite new and in the office here, I haven’t seen anything more than the press release) this is just an MoU and is subject to a number of approvals both here and in China.  I imagine they’ll be pressing for those as quickly as possible. 

      1. Victor is quoted in di.se saying that the money (30 Meur) will come “immediately, all of it, now”. “They (Pang Da) can buy cars and they have”.

          1. Cautious tone? I wonder why… 😉

            It looks like the main thing Victor did now was finding a distribution partner and selling them some cars to get money right away to restart the factory.

            I wonder how many cars they get for 30 million.

            Next step will be a Pang Da getting a stake which means approvals here and there, which may take a few weeks but it won’t hurt this time.

  2. Have had 3 9-5’s, and am due for a new car in Oct.  Am not sure with all that is going on that Saab would be a save bet. Concerned that the company is not very stable.

    1. Well, you should be sufficiently reassured by October.   I own a new 9-5 and it gets a lot of attention from other drivers and many spontaneous inquiries in the parking lot.  Oh yeah, and we love it.

      1. Hopefully I will, like I said, my wife and I have had 4, my son 4, and my daughter 1.

        Thanks for the response.

  3. I have a good feeling this time (fingers crossed!).  The Hawtai deal kind of felt like it was a little unreal.  Anyway we all need to be optimistic.  Pessimism is never productive. 

  4. The Deal between all parties has become complex not helped by gm invertible intervention, but Saab can survive this. Once production has restarted which is pinnacle to the survival of this great brand. Financially Saab need the learn funder mental lessons this has happened twice the cat has only so many lives. Lets hope that the deal is a great success for all concerned