Tallahassee, FL 12/12/11 (StreetBeat) -- Saab (Pinksheets: SAABF) filed for bankruptcy just yesterday, and already the fallout is hitting owners: all warranties on new cars sold or leased are suspended, as are all claims currently in process on already-owned Saabs.The report, by way of Detroit News, cites Saab North America representative Michele Tinson, who advises warranties on new cars are suspended indefinitely, meaning all Saabs still on dealer lots can only be sold as-is, without any factory protection against defects or breakdowns. The suspension of current claims also appears to be indefinite, but it's not yet clear if that will hold as well. Bargain hunters may not care about the lack of a warranty, but it will certainly drag down the value of any remaining cars in stock.
Tinson did caution that it's too early to announce any further actions in the U.S., likely referring to the impending dealer closures, layoffs, and sell-offs that will have to follow if Saab can't find a last-minute buyer.
That's right--Saab hasn't yet given up. CEO Victor Muller says there's still a chance it could be turned around, that it may "rise from the ashes like a phoenix."
Or it may stagger on like a zombie. There are fates worse than death.
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