Spyker Cars Says Saab won’t Meet its Sales Target this Year, Now Talking with Chinese Companies for Funding

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The roller coaster that is Saab has taken another turn, and unfortunately for the Swedish brand, the future doesn’t look so bright. In spite of a tentative agreement to let Russian banker Vladimir Antonov invest 30 million euros in Saab’s parent company Spyker in return for a 29.9 percent stake, the investment still needs to be approved by the European Investment Bank, which means the Swedes are still short on cash and cannot resume full production.

Today, Spyker reported a loss of €79 million before interest and tax for its first quarter earnings, while the company’s CEO, Victor Muller, said that Saab will not meet its sales target this year.

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Post Title → Spyker Cars Says Saab won’t Meet its Sales Target this Year, Now Talking with Chinese Companies for Funding

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VIDEO: Geely’s McCar Bundles Four Seats and a Scooter in a Mini Package

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At the 2011 Shanghai Auto Show, Chinese automaker Geely displayed an interesting concept car called McCar, whose funny name reportedly stands for “Magic car” and “Motorcycle Car” , and has nothing to do with the famous chain of fast-food restaurants – unless you take into consideration the fact that there is a folding electric scooter sandwiched between the rear seats of the car… Read more »

Post Title → VIDEO: Geely’s McCar Bundles Four Seats and a Scooter in a Mini Package

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