Posted on Friday, 12th November 2010 by RTJ
The Dutch supercar manufacturer Spyker is struggling with the losses after the acquisition of Saab last February. The company recently announced that they are lowering their forecast for the production of vehicles of Saab. They are expecting to lose some more money through 2011.
In a statement, Spyker tallies their net loss to around 39.9 million Euros compared to a smaller 4.06 million Euros in 2009. The sales though have jumped to almost 276 million Euros as Saab started pulling in the revenues.
Saab was about to collapsed when Spyker decided to salvage the carmaker. After the turnover from General Motors, Saab’s assembly lines were again reactivated by March focusing on the 9-5 Sedan. Spyker aims to grab some profits by 2012 as Saab hits around 120,000 units per year on sales.
Spyker wants to help Saab to re-establish itself as an independent, premium carmaker that is financially viable. The production of Saab has been trimmed down to 30,000 through 35,000 units from a target of around 45K last August and an original plan of 50K units.
Spyker admits that Saab needs a longer time to recover from the factory shutdown and liquidation of assets at the start of the year. The Dutch carmaker also emphasized the goal of rolling out 80,000 units by 2011.
Spyker claimed 9.3% in trading since it acquired Saab last February for roughly $74 million and preferred shares of around $326 million.
Tags: car news, Saab, Saab news, Spyker news
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