Saab Relying on Old Friends for Popularity

Saab Relying on Old Friends for Popularity

Saab Relying on Old Friends for Popularity


Victor Muller, CEO of Dutch sports car maker Spyker Cars NV, said he plans to take the Swedish company back to its roots as a maker of quirky yet sporty luxury cars, a strategy he hopes will win back old customers and continue boosting sales.

“We don’t need any new customers. We only need our old customers back,” said Muller said in an interview with The Associated Press on Monday. “Saab is OK and well-funded and will last as an independent car manufacturer.”

Spyker bought the Swedish company headquartered in Trollhattan, Sweden, from General Motors Corp. for $74 million in cash plus $326 million worth of preferred shares in Saab. The deal was completed in February, saving Saab from being shut down after a previous attempt to sell the brand to another Swedish automaker fell through.

Muller said he expects Saab to benefit from the stability of a new owner, as well as from greater access to customer and dealer financing. Earlier this year, Ally Financial Inc. agreed to be the main financier for Saab customers and dealers.

“(In 2009) there was no consumer financing, no dealer financing. Nothing was left,” Muller said.

Muller also hopes to bring Saab back to its roots. Saab had attracted a small but devoted following in the U.S. and elsewhere, where enthusiasts like the brand’s quirky design, sporty ride and technological sophistication. The company was a pioneer in using turbocharged engines. It was also the first carmaker to offer heated seats.

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