Spyker reports loss in H1


Spyker Cars NV reported a net loss over $187 million (all figures Canadian) for the first half of 2010 after the niche sports car maker completed the purchase of Saab Automobile AB.

That total loss is up from a loss of $117 million a year ago. Sales climbed to $327 million
from $5.5 million while operating losses deepened significantly from $9.4 million to $146 million.

Of course, the reason for some of the large disparities between the totals is because of the consolidation with Saab back in late February. 

“Given the effective shutdown in Saab's operations during the first months of 2010, the first half year cannot be seen as representative in terms of volumes and operating results, but as a necessary episode from which Saab will build going forward,” the company said in a statement.

Despite the low figures, Spyker CEO Victor Muller forecasts selling 45,000 Saabs this
year, 80,000 in 2011 and reaching as many as 120,000 in volume sales making for a profitable 2012.

- with files from The Associated Press