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Spyker announces Saab jobs boost

AFP/The Local · 25 Mar 2010, 07:47

Published: 25 Mar 2010 07:47 GMT+01:00

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The chief executive of Dutch Spyker cars, Victor Muller, told journalists that Saab could count on financial support totalling $1.0 billion and would become profitable in 2012.

Saab was rescued by Spyker Cars in last-minute negotiations in January when the owner, US group General Motors, was about to close the business down as part of its own efforts to recover from bankruptcy.

Spyker Cars, a small company making sports cars, paid about $400 million for Saab, of which about $75 million was in cash and the rest in shares.

Saab makes up-market saloon cars, and in Sweden its brand has importance going beyond merely the name of a product. But GM had struggled ever to make a profit and in recent years sales had fallen.

In 2009, the company made 20,000 cars and sold 39,000, drawing in part on stocks. Muller said that inventories were now low.

The company intended to produce 120,000 cars a year in 2012, returning to the production level achieved in 2007, and to sell 50,000 to 55,000 cars this year.

Story continues below…

The company expected to employ an extra 500 people towards the end of this year, taking the workforce to 4,000. The production capacity at the factory at

Trollhättan in the south west of the country would be increased to produce slightly more than 50,000 cars per year.

AFP/The Local (news@thelocal.se)

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Your comments about this article

08:06 March 25, 2010 by Nemesis
This is brilliant news.

I hope SAAB goes from strength to strength.
14:20 March 25, 2010 by Graeme.H
"Saab was originally hoping to sell up to 250,000 units per year, a target set last year by Forster's predecessor Peter Augustsson. However, last year's sales results of only 133,167 cars worldwide meant that Saab lost money and a more conservative target of just breaking even is more reasonable."

This from the 2007 report.

So Spyker is (A company that also runs at a constant loss, who purchased a bigger company with bigger debts which also runs at a loss since 1989) big plan is to make even less cars to sell than in 2007 (Where SAAB LOST 3 Billion Kronnoe, yes that is Billion with a "B") and hire 500 more people to do it with. Yeah that math works!

Truth is the world has hit saturation point when it comes to car manufacturers...and the to employ someone in the Nordic countries costs companies BIG $$$ compare to other countries. Companies like SAAB should have invested in new engine technology to produce greener cleaner world or dare we hope engines that turn water into Hydrogen....for the companies that do this, will then be producing for most of the world.

It is a good thing the Swedish government choose not to bail SAAB out again....because when this farce of "we will build more cars and sell more cars and employ more people" with two companies that couldn't get credit for a visa card with the debts and bad credit line they have finally plays out....it will not be us directly paying for it.
21:45 March 25, 2010 by spy

So you are an expert on the auto industry as well as the sex industry, your knowledge is seemingly limitless.
23:04 March 25, 2010 by repat_xpat
Good news. I hope they can meet their sales goals. They will need the additional employees in engineering and design. Good for Trollhattan too.

Spy, must you always resort to personal insults? Graeme have you plenty of material to refute based on the merit of its content, but you choose to insult instead.
05:42 March 26, 2010 by Da Goat
I guess if they are not greedy with prices and are up to scratch with quality they can sell as many cars as they like !

good value cars sell well and foster good will to buy !

as long as they have got away from the American business model of selling something crappy so that they make money on spare parts and replacing it when it dies after two years! quality not quantity of product not money!

there is a saying in my country "greedy will get you in a mess"
11:44 March 26, 2010 by Britswedeguy
Great that this company has been saved from ruinous American hands!
12:47 March 26, 2010 by Twiceshy
spy is that the best argument to have? Ad hominem attack?

I guess your religious belief in the inevitable success of Saab isn't backed by any logical reasons that you can tell us about.
13:05 March 26, 2010 by saar
I used to drive SAABs. Not anymore. Even BMW is cheaper to run. 9-5 is a ridiculously old model and 9-3 is going south as well. Unless Spyker does something drastic SAAB is gonna end up in a ditch. Again.
21:33 March 26, 2010 by spy

Well done for knowing what a hominem attack is - I always thought you were a philistine.
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