IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Monday, April 4, 2011

CEO Jan Åke Jonsson on the difficult financial situation

TT has written a news piece publised on from Saab's press conference at the Saab Nacka Strand car exhibition which opened today. The focus was more on the financial situation than on cars:

Strained liquidity for Saab
Retiring CEO Jan Åke Jonsson, admits that the liquidity has become more strained in the second half of the first quarter.
- There are a number of different reasons, but I can not go into what they are because they affect several partners, he said in front of a large number of journalists who had come to Saab's spring exhibition in Stockholm today.
- We are working intensively to strengthen Saab's financial position and capital structure, it involves the contribution from our owners, credit facilities, as well as operational improvements. We are confident that we will correct the situation soon and of course we trust that our loyal suppliers who have been with us for a very long time continue to work very closely with us, Jonsson said.
And he did of course mention all the new cars that Saab had on display but he realized that the main media interest was last week's problems.
- It is true that we have had some disruptions due to shortage of materials and activities from our suppliers, he said.
Jonsson stated that Saab has been very, very close to the expectations of the business plan.
- In relation to the lower sales, we have managed to keep costs low.
When Saab's spring exhibition launched today, the new models are in focus. Among other things, the wagon version of 9-5, and the sporty "winged" show car PhoeniX are on display.