Luxury car maker Spyker posts first half loss

Luxury car maker Spyker, which bought the much bigger Saab group at the beginning of this year, posted a first-half loss of €139m, the company said on Friday.


Turnover was €234m.
But the company says it has enough liquidity to keep operations going without having to turn to the capital markets until the end of the year.
Spyker, which has never made a profit, bought Saab from General Motors for $74m in cash.
Production has now been resumed, with sales reaching 10,500 in the first six months of the year. Spyker hopes to screw up production to 80,000 by next year. According to Nos tv, the Saab operation will be profitable on an annual production base of 120,000 cars.
Earlier this week, Spyker said its debts had become larger than its assets.

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