Spyker: There is a strong desire to do a compact Saab, needs funding and partner

Spyker Cars announced yesterday that Saab production is on track, two months after the supercar manufacturer bought the loss-making Swedish brand from General Motors.

Saab CEO told Spyker shareholders that Saab would meet its target of 50,000 cars sold and nearly 54,000 produced this year and is on track to meet those numbers. Spyker’s CEO Victor Muller said that Saab’s break even point should be sales of 85,000 units a year by 2012. Analysts predict that Spyker must sell 75,000 units a year to have a positive cash flow.

Muller also pointed out that there is a strong desire to develop a new compact model if it could find the right partner and proper financing to do so. He said that he would like to expand Saab’s lineup to something smaller than the 9-3 model.

“The Saab 9-2 is clearly on the forefront of our priorities,” Muller said. He showed shareholders market data in support of producing such a car was “irresistible”. However, Muller did make it clear that Saab would require a new capital and a partner to design and produce the car.

– By: Kap Shah

Source: Reuters