Spyker Sells Spyker, Keeps Saab
THE HAGUE, Netherlands (AP) – Spyker Cars NV, the Dutch luxury sports car maker which last year took over Sweden’s Saab, said Thursday it has agreed to sell its sports car business to Russian banker Vladimir Antonov, a former stakeholder. Spyker says the sale will allow it to exclusively focus on Saab and reduce debt.
To clarify, Spyker Cars, which now owns Saab, is selling its Spyker division so it can focus on running Saab. So Spyker is now, more or less, made entirely of Saab. With $44 million changing hands, Spyker is now in the hands of CPP, the British coachbuilder that had been assembling Spyker’s supercars for years. Spyker sells about 50 cars annually for about a quarter million dollars each.
Saab sales have doubled since rebounding from the carpocalypse of 2009-2010, and Spyker is eager to pay its debts. Its an unusual situation for a small manufacturer of specialty cars to acquire a larger global brand like Saab, but Spyker came in at the last minute with support from Sweden, the EU, and some Russian oil tycoons, raising enough money to buy Saab from GM for only $74 million (plus $320 million in Spyker shares).
Without Spyker, Saab would have ceased to remain in business, relegated to the automotive dustbin like Oldsmobile, Plymouth, Saturn, Hummer, Mercury, and Pontiac. Some would say, justifiably, that Saab had already died years ago.
Full Article: http://www.canadianbusiness.com/markets/market_news/article.jsp?content=D9LJ4CD81
At least the new owners know what Spyker is all about.
Once all the debt is settled, I think it would be interesting to see an Audi R8 competitor from Saab (although very unlikely).
At least Saab can start building funky cars again instead of rebadged Subaraus.