Saab CEO says company can break-even by 2012

2010 Saab 9-5

Saab executives announced in a press event today in New York, that they have realistic expectations for the company, and have full confidence that the company can be operating at a break-even sales volume by 2012, when its much-ballyhooed replacement for the 9-3 is set to hit the market.

President and CEO, Jan Ake Jonsson, has stated that the company”s primary job is to rebuild confidence in the marketplace, and that the best way to do that is to deliver on its business plan, which includes ramping up global sales to 125,000 units annually. Saab breaks even at about 85,000 units annually.

Saab has a number of new models due out in the next year or so, including a wagon variant of the 9-5, and the GM-developed-and-built 9-4X – a crossover which is a cousin to the Cadillac SRX.

Saab assembly lines, located in Trollhatten, Sweden, are abuzz again after a four-month hiatus while the sale of the company was finalized. The company has secured much of the financing it needs, including a deal for retail financing with the old GMAC, currently Ally Financial.

250 cars per day are currently made at the Swedish site.

– By: Stephen Calogera

Source: AutoObserver