Saleen Automotive is best known for building hot numbers including countless tuned Ford Mustang muscle cars, and more recently, for offering a custom version of the Tesla Model S. Unfortunately, the company needs a huge infusion of cash even faster than its cars if it wants to stay on the road beyond the end of the year. In a new Securities and Exchange Commission filing, Saleen admits that its financial situation is dire, and it has just $7,261 in cash sitting in the bank as of September 30.
Saleen may be making headlines these days for working on the Tesla Model S, but its history and bread-and-butter is all about the Ford Mustang. The rear-wheel-drive Dearborn pony cars singlehandedly put the company on the map in the '80s. Founder Steve Saleen was already a talented American racing driver when he started the venture, and like many auto industry businesses before him, Saleen went to the track to prove his vehicles' worth. Now, there's a chance to buy one of those early racers on e
The introduction of a new generation of a model like the Ford Mustang may be exciting enough in its own right for enthusiasts, but that's just the tip of the proverbial iceberg, because you know that Ford itself as well as numerous aftermarket tuners will soon follow up with even more desirable versions. And few Mustang tuners carry quite the same clout of Saleen.
After 30 years of tuning performance cars and building racecars, Saleen is celebrating its racing heritage with a limited-production car line called SA-30. Based on the Ford Mustang, Chevrolet Camaro and Dodge Challenger, Saleen will only build 10 of each SA-30 model at a base price of $95,000.
With Steve Saleen back at the helm of his namesake automaker, another recognizable name is reappearing in the Saleen sports car lineup. As previewed by the above rendering at the LA Auto Show, the Saleen 351 returns after a 13-year absence with 700 horsepower under the hood – take that Shelby GT500.
There are many names you could associate with Mustang tuning, but few are as iconic as Steve Saleen. The American tuner extraordinaire made a name for himself tweaking the Ford muscle coupe under the Saleen brand until he left his own company to start SMS Supercars. But now that the two have been reunited, word has it that Saleen is moving ahead with plans to produce a new mid-engine exotic to follow in the footsteps of the famed S7.
Steve Saleen is back to feeling himself again. That's because he's once again at the helm of the the marque that bears his name. As you may recall, the racer and performance part guru walked away from the Saleen brand empire he nurtured for 23 years back in 2007. The Saleen brand was then sold to MJ Acquisitions, along with the right to produce S Line and Racecraft Ford Mustang models. Saleen himself, meanwhile, went on to create SMS Supercars, which produced notable creations like the SMS 570 D
The drama that is Saleen entered a new chapter yesterday with the announcement that Steve Saleen's new company, SMS Supercars, has filed a lawsuit against MJ Acquisitions, which purchased assets from Saleen, Inc. including the right to produce the 'S' line and Racecraft Mustangs, as well as the Speedlab aftermarket division. Steve Saleen, who left Saleen, Inc. in the summer of 2007, claims the lawsuit was filed to "continue to protect the name, reputation, and brand value of Steve Saleen, and to
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