Saab Posts Financial, Sales Results for Q1

Almost four months have passed since the beginning of the year, and automakers around the globe scrambled to get their numbers in order to see how their business performed in the first quarter of 2011. For Spyker, including Saab, all of the hardship, problems and gossip have been somewhat sweetened by the numbers the two companies managed to generate for the period.

In the three months of the year, Saab managed to manufacture a total of 10,888 vehicles, a huge leap of 406 percent compared to the same period of last year (Saab produced only 2,153 vehicles in the first three months of 2010, as it was still struggling to get out from under the GM umbrella).

March was the best month for Saab since it became independent in 2010. Last month, the automaker produced 4,809 vehicles, 781 percent up from the 546 units produced in 2010.

“Our sales performance has been strong in the first quarter, especially in the month of March which showed very encouraging signs,” said Jan Ake Jonsson, the company's CEO. “March 2011 was the strongest sales month for Saab Automobiles since we became an independent company in February 2010. "

"We also plan to bring no less than four new products to the market in the next couple of months, including the Saab 9-4X and the much awaited Saab 9-5 SportCombi, that are expected to boost sales in the second half of the year.”

On the financial front, the Spyker-Saab group managed to generate an EBIT of EUR79.4 million. The cash generated from the operations amounted to EUR19.4 million.
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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