Although the sale of Ford’s Volvo brand has been rumored for several months, General Motors’ Swedish luxury brand, Saab, has by and large escaped any sale rumors. The latest news from Sweden will probably solidify Saab in the GM fold as the brand managed to reduce its losses in 2007.
According to Sweden’s Dagens Industri, Saab lost 2.2 billion kronor (roughly $366 million U.S.) in 2007, compared to 2.9 billion kronor in 2006.
Despite the reduction is losses, Saab actually sold fewer cars in 2007 – 125,000 units in 2007 compared to about 132,800 in 2006. Saab CEO Jan-Ake Jonsson attributed the reduced losses to bigger profit margins and cost-cutting measures. “I am satisfied that we managed to improve the result despite a drop in sales,” Jonsson told Automotive News.
Jonsson added that Saab actually earned money on its European sales but did not in the U.S.
Saab is hoping to turn a profit by 2009 or 2010, aided by new products such as the 9-3X and next-generation 9-3.
08/06, 12:23 PM
posted by:
ktulu
Good news, but i want 2 talk about the Obamster
http://www.washingtonpost.com/wp-dyn/content/article/2008/06/29/AR2008062901871_pf.html
There R sum sick jealous people, & i don’t no Y they believe stuff lkike this.
Terrorist fist bump, indeed!
08/06, 12:54 PM
posted by:
TOZO
From what I remember, SAAB never in its history earned a profit. So, a smaller loss ain’t bad.
Regarding ktulu’s article: Even an African-born, possibly gay Muslim racist who refuses to recite the Pledge of Allegiance may understand that.
08/06, 12:55 PM
posted by:
xyunya
1. ktulu the link is over month old; it is old news. we know he is terrorist he’ve been to Taliban land for training
2. the name of the article says it all. The content is even more interesting: if stop selling cars and reduce expenses you’ll be in the black altogether.
08/06, 1:44 PM
posted by:
brassmonkey
Obama is gay? Explains a lot.
08/06, 1:55 PM
posted by:
inline6
Wow…Saab sales drop less than 6% and xyunya calls it “stop[ping] selling cars”. All Saab stopped selling in 2007 was the 9-2x. And all they changed for 2007 was an updated IP for the 9-3. Everything else was carryover. So a 6% drop isn’t bad in that light, especially considering that 2007 sales were with 3 models compared to 2006, when Saab sold 4.
The fact that they cut costs (in the middle of tooling for a new AWD system and a re-skin of their bread-and-butter product) and managed to shrink the loss by 25% is very good.
Imagine what Saab sales will be like when the new 9-1, 9-3, 9-4x, and 9-5 come online in the foreseeable future.
08/06, 5:04 PM
posted by:
AmericanIdiot
I can now confirm that ktulu is an idiot. And Yay Saab, you get to keep dying a slow death.
08/06, 5:09 PM
posted by:
AmericanIdiot
Must be Greta Van Susteren’s understudy, but a month behind peddling the toxic waste generated by the hacks at Faux Noise.
08/06, 5:12 PM
posted by:
Madcapp
Saabs are disgustingly cheap on the inside.
08/06, 7:23 PM
posted by:
ktulu
i am remarking that ther r 2 many peoipe etellin g lies about the Obamster, and people R believing this sturr.
But he will win anyway,