Saab Records $322 Million Loss in First Half

Saab is currently struggling to survive, but it seems that the Swedish automaker's chances are decreasing each day. While other times we had little steps towards a financial meltdown, today, unfortunately, we find out that Saab has posted a $322 million loss for the first half of the current year.

During the first six months of this year, Saab managed to sell 15,914 cars, with its revenues totaling $513 million.

However, as you probably know, Saab halted production in April due to a shortage of components - the automotive producers wasn't able to pay parts suppliers and workers.

Saab has been making efforts to secure short-term loans in order to get back on its feet, but analysts are more than reserved concerning the company's faith.

Victor Muller, who leads Swedish Automobile, Saab's owner, has issued an official statement, apologizing for the salary pay delay.

He also gave us further information on how Saab plans to recover from this situation, explaining that multiple funding negotiations are currently under way. A potential pathway would be to establish join-ventures with partners coming from China, such as Pang Da and Youngman.

We have to remind you that this was also the way chosen by Volvo, which is now owned by Geely.

Saab is currently looking to secure a loan that would allow it to restart production - the company has to pay its workers, as well as its suppliers.
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About the author: Andrei Tutu
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In his quest to bring you the most impressive automotive creations, Andrei relies on learning as a superpower. There's quite a bit of room in the garage that is this aficionado's heart, so factory-condition classics and widebody contraptions with turbos poking through the hood can peacefully coexist.
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