Troubled Swedish carmaker Saab was in the news yet again in late September as they won a court appeal allowing them to seek bankruptcy protection. Struggling with falling sales, the car company has been unsuccessfully trying to get new funding to ensure their survival, for several months now. Saab now hopes that the decision to grant bankruptcy protection will buy some time to secure investment from China.
Trouble first began in April as production was suspended after failing to pay suppliers; however it was not until June, when the cash-strapped company revealed that they did not have enough cash to pay their workers, that BrandIndex registered negative Buzz around the brand. Buzz scores the day before the announcement, on June 23, stood at 2.2 points, but soon dropped to reach a low of -3.6 points by July 7.
Scores recovered for a short while until pay day came around in August, when it was reported that for at least some of Saab's 3,700 employees it would be the third month in a row that they had seen their salaries delayed. As the news broke on August 23, Buzz stood at 1.6 points, falling to a low of -5.1 points on September 21 as continued rumours of bankruptcy plagued the company. It remains to be seen as to whether the news of bankruptcy protection will allay the fears of the public and give the brand renewed Buzz.
Every day, 2000 BrandIndex respondents rate brands either positively or negatively across 7 measures to provide a unique set of measures (Quality, Value, Reputation, Impression, Advocacy, Satisfaction and Buzz) on brand perception.