Two weeks ago, Saab indicated that there were nearly 20 parties interested in purchasing the bankrupt Swedish automaker. Today, Saab reports that number has swelled to 27, but an unnamed source (aren't they all?) tells Bloomberg that there are really only half a dozen serious bidders under consideration. Interestingly, that number does not include any rival automakers.
According to CEO Jan-Aake Jonsson, the automaker needs to sell 130,000 vehicles a year just to break even and doesn't expect to break the 90,000 mark for at least the next two years. Fret not, there's a plan in place that Saab hopes will guarantee the path to profitability, which includes four new models within the next 18 months that emphasize safety and the firm's trademark turbocharged engines.
Crucially, Saab also expects former parent General Motors, which has much bigger issues of its own to worry about at the moment, to write down Saab's $1.15 billion dollar (9.6 billion kronor) debt to the American automaker by 75%.
[Source: Bloomberg | Image: Fabrice Coffrini/AFP/Getty]
According to CEO Jan-Aake Jonsson, the automaker needs to sell 130,000 vehicles a year just to break even and doesn't expect to break the 90,000 mark for at least the next two years. Fret not, there's a plan in place that Saab hopes will guarantee the path to profitability, which includes four new models within the next 18 months that emphasize safety and the firm's trademark turbocharged engines.
Crucially, Saab also expects former parent General Motors, which has much bigger issues of its own to worry about at the moment, to write down Saab's $1.15 billion dollar (9.6 billion kronor) debt to the American automaker by 75%.
[Source: Bloomberg | Image: Fabrice Coffrini/AFP/Getty]
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