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Re: Spyker Cedes Control of Saab to Two Chinese Firms
Posted by SENewhouse (more from SENewhouse) on Tue, 14 Jun 2011 06:39:24
In Reply to: Spyker Cedes Control of Saab to Two Chinese Firms, BrianG, Mon, 13 Jun 2011 11:48:24
See today's WSJ story. The two Chinese companies own a combined 53%, but there is an agreement that no party shall seek to take control. Not sure that will hold up over time.

More concerning is the news that Spyker is still struggling with Saab production (re-started and then halted?) and the question of whether the current cash infusion is enough. And if you look at what's happening with Chinese economic management, banking, and housing markets, you have to wonder if the consumer binge and availability of capital will continue.

I am disappointed, as I really like Saabs -- even with their few shortcomings. I've made two business trips to China and admire their desire to succeed and vigorous business development. Whether or not they will be real players, near term, in a globally competitive and sophisticated auto industry is an open question. Volvo is a good omen, but don't pop the champagne cork yet. Sales volume is the key for everybody.

I am disappointed in Saab's current position, as I really like the cars. However,I am fearful that another nail has just gone into the coffin.

Would be difficult for me to take the risk of buying another new one under the circumstances.

SEN

posted by 72.34.2...
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