Saab Automobile losses continue to shrink

Saab Automobile lost nearly 2.2 billion kronor ($360 million) in 2007, reports the Dagens Industry newspaper.

Despite the losses, the company’s CEO Jan-Åke Jonsson said he was satisfied with the year’s results.

“I’m pleased that we, despite a drop in sales, succeeded in improving our results,” he told the paper.

Saab Automobile, which is owned by American auto giant General Motors (GM), sold 125,000 cars last year, 7,800 fewer than the year before.

In 2006, Saab Automobile lost 2.9 billion kronor, and the year before Saab’s losses reached 3.8 billion, according to Dagens Industri.

Jonsson told the newspaper he reckons the company will turn a profit in 2009 or 2010.