Saab, Confronting With Serious Financial Problems –

Saab 9-3

I’ve always liked Saab for reasons that I can’t really explain. Maybe because they have something special that you can’t find in an Audi, BMW, Mercedes, etc. Anyway, it seems that the Spyker-owned car manufacturer is in real trouble this time. In Spyker’s annual report, the company warned that the automaker’s future could become uncertain if they don’t find new funding.

The Dutch company stated that they are hemorrhaging money as Saab is working on setting up new distribution networks and sales & marketing operations. This sad news comes after a series of temporary production halts due to the reason that suppliers refused to deliver components because of payment problems. These issues seem to have been resolved, but the suppliers are cautious at the moment, for understandably reasons I’d add.

In the last few months that have passed, a Russian investor by the name of Vladimir Antonov has made it quite clear that he is willing to give the automaker the necessary funds, but Victor Mueller, Spyker’s CEO, has denied reports that Antonov’s Conversbank is in discussions to provide the car manufacturer a new $710 million loan.

We’ll have to wait and see what will happen to Saab. I really hope that they’ll resolve all of these financial problems.

Source: Automotive News | The Wall Street Journal via WCF

Post tags: Tags: financial, Saab