Flip-flopping more than a politician during election season, Saab owner Spyker now says that the Swedish automaker has enough cash on hand to continue production uninterrupted.
Following three days of production shut downs last week, Spyker announced that Saab was in fine financial health and only stopped production due to a spiff with suppliers. Just days after that a Spyker report revealed that Saab’s “continuity” could be in jeopardy due to a cash shortfall. Now Spyker is changing its story again, saying Saab is not on the verge of “collapse”.
“Saab is still producing and it is not on the verge of collapse,” Spyker CEO and Saab Chairman Victor Muller said at an event earlier on Monday.
Muller added that while Saab’s sales have been slow during the first quarter, an expanded lineup will boost Saab’s volume during the second half of the year. Saab has set a target of 80,000-85,000 sales for 2011.
It remains to be seen just how healthy Saab really is, but an investment from Russian businessman Vladimir Antonov could vastly improve the automaker’s outlook. Antonov was forced out of Spyker during the company’s purchase of Saab from General Motors, but could be brought back in as a business partner to give the Swedish automaker a much needed cash infusion.
References
1.’Spyker says ailing…’ view
