Saleen Automotive up for sale
Saleen is much more than just hot-rodded Mustangs and S7 supercars, and now, it's also for sale. Founder Steve Saleen departed in 2007, deciding that it might be more interesting to try and import a Chinese pickup truck for Chamco, and starting up a new performance company, SMS. Saleen's eponymous company does work for automakers; the company built the Ford GT and Dodge's Viper gets its paint and some subassembly work at Saleen, too. Saleen's board has hired an advisor to investigate what level of interest there might be from potential buyers. Recent economic developments aren't going to make it an easy sale, but Saleen would like to sell itself by early 2009.
[Source: Auto News - sub req]
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Reader Comments (Page 1 of 1)
HotRodzNKustoms 11:49AM (11/09/2008)
Starting bid $1!
Do I hear $2???
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arturo 12:07PM (11/09/2008)
I am sure it a bit more than a dollar or two. I hope this brand is not sold to tata or any other foreign company. I really don't know why the saleen S7 was not as successful in the exotic market. I mean a lot of us liked the car as one of our favorites but it never sold like predicted, I am assuming the prize was too high.
f3rg 1:07PM (11/09/2008)
$2.50!
Chase 4:36PM (11/09/2008)
The S7 is a "bargain" supercar. The thing is that at its price range, people stop caring about the "bargain" part.
I personally think the S7 rocks, but it needs more style to be taken seriously by most people with that kind of cash.
Steve 12:20PM (11/09/2008)
What a slut!
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krasmo 1:05PM (11/09/2008)
Don't buy it! If it is anything like the Mustang or Viper, it will be worth 1/3 of what you paid for it in a couple of years. I'd try to buy it used.
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dukeisduke 1:10PM (11/09/2008)
So much for the idea of Saleen buying Viper away from Chrysler. Maybe they'd be bought by SMS?
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Amien 2:01PM (11/09/2008)
Exactly! Saleen was one place where the Viper could go and still keep me happy. I've got to say i didn't see this one coming.
Correction, i didn't want to see this one coming.
:(
BoxerFanatic 11:18AM (11/10/2008)
I have to think it would make a little bit of sense for Steve Saleen to buy it back, if not just to take his name off of someone else's property, if the company is too far gone.
It seemed suspect to me that Saleen would quit his own company, with a lot of market awareness, only to start up a different company, SMS, doing similar things.
I hope he regains control of his namesake company.
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kumquat 2:32PM (11/09/2008)
Has anyone been to that Saleen store? They have a Mustang cut in half lengthwise, so you can walk through it and see the insides of the drivetrain, etc.
They also sell paper license plate inserts (like the ones from the dealership that come with a new car) that say Saleen on them. They cost $2.
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hello 5:47PM (11/09/2008)
isn't that at the spectrum?
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Dave 6:35PM (11/09/2008)
The retail store shut it doors some months ago.
hello 6:39PM (11/09/2008)
:O
DavidW 7:00PM (11/09/2008)
Wish I was loaded, I'd buy it in a heartbeat.
What about Jay Leno? Maybe he could buy the brand? I think it would be kind of cool if Saleen added on the ability to make electric cars. Take Mustangs and other sports cars and convert them to electric...I think they would sell well.
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tricky dicky 9:42PM (11/09/2008)
Odd how autonews has had this on that link all day:
"Automotive News is currently experiencing technical difficulties, and is unable to deliver the article you have clicked on.
Our developers are working on this issue, and it should be fixed shortly.
We apologize for the inconvenience"
either way good on Mr Saleen to get out in time
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Level 9:56PM (11/09/2008)
I guess there goes to the chances of there being a Saleen Raptor super car....I must say I did not see this one coming in a long shot......
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nolan 3:28AM (11/10/2008)
Maybe they spent too much money buying Steve out, and now they are out of cash. Maybe as has been suggested before, SMS will buy them, and then Steve will have a part in the company that bears his name.
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geronimo 8:54AM (11/10/2008)
This has been on its way for a very long time. Steve Saleen ran the company into the ground very well. Saleen was bleeding over 18 Million a year when he was there.
Paul Wilbur and his team slowed the bleed a little but I think to much damage was done, not to mention the current financial enviroment.
It's a shame the shape that the company is in. I for one would have loved to see the S5 go to production.
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jpdr1100 12:23PM (11/10/2008)
The performance level of many of today's cars is beyond that of most drivers. Supercar performance even more so. So most of those cars are not sold for what they can actually do, but for their image.
Judged that way, the S7 was doomed. I suspect Steve Saleen knew that.
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ksracing71 6:59PM (12/23/2008)
I miss that job. Hope things turn around for them.
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