Could Saab Automobile turn out to be another SsangYong for Mahindra?

After its recent acquisition of the near doldrums South Korean car manufacturer SsangYong Motor Corp, Mahindra and Mahindra could be stepping on another stone to success. A Swedish auto maker, Saab Automobile is the other car manufacturing company on which Mahindra has set its sights. According to the insiders’ reports, there are two court officials working on behalf of M&M who are closely watching the proceedings at the Saab Automobile.

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However, not until sometime later would Mahindra and Mahindra be able to decide on whether it is going to buy a part of the Swedish car manufacturer’s stakes or head for a complete acquisition. Saab Automobile stopped functioning since last March and probably looking out for a right party to hand out the reigns. Both the officials from the domestic car manufacturer M&M’s staff, Roma Balwani, the spokesperson and the Chief Financial officer, Bharat Doshi who are actually involved with the proposed take-over did not give any inkling on what is happening within the company. However, not long ago Mahindra and Mahindra was involved in a similar kind of deal where the home grown auto giant seemed to pull it off quite well.

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The South Korean car manufacturer SsangYong’s acquisition process which began almost a year back has turned out quite successful for Mahindra and Mahindra who is just short of launching the two SsangYong SUVs Rexton and Korando E. 70% proud owner of SsangYong, Mahindra India looks forward to a positive growth to make its dream of becoming a global leader more closer to reality. Although the South Korean auto major is quite established as an SUV manufacturer in European nations, the SsangYong has almost given up on its hopes with a situation similar to that of the Swedish auto giant. Anyhow, the year 2011 turned out to be positive for SsangYong and M&M when the former managed to chalk out 40% growth despite unfavourable conditions. Expansions apart, the domestic auto giant is all set to see its sales thriving in 2012 after a promising beginning at the 2012 Auto Expo.

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