Saab stand by sales forecast

I’m not totally up to speed with the setting here, but Jan-Ake Jonsson and Victor Muller appeared at a Shareholders Association meeting in Sweden earlier this evening and faced questions from the press. It seems to be a similar forum to that which JAJ fronted up to alone just a few days ago.

Readers should note that from what I can tell, this isn’t Spyker shareholders specifically, but more like a Shareholders Association for people holding an ownership interest in various parts of publicly traded Swedish businesses (yes, I know Spyker Cars is Dutch, but Saab still have an impact on Swedish business).

Anyway…..

An article has appeared in SVT.se, summing up some of the remarks made by Jan-Ake Jonsson at this meeting in response to questions from the press:

Saab stands by forecast

The forecast for Saab Automobile’s sales this year remains solid despite rumours of further drops. According to Managing Director Jan Åke Jonsson, sales have finally taken off in Sweden. Though it is from a low level.

Last spring, the company presented a full-year forecast of 60,000 cars sold. In August, bid 45,000 and in October forced the management revise this figure down to 30,000-35,000.

TT: What is the main reason why you are at 50 percent of the level you indicated last spring?

“What we assumed when the contract was signed (on February 23, prepared notes) was the drop that occurred at the beginning of the year due to liquidation, we would catch up in the latter half of the year. And we have not managed to do, respond Jonsson.

Difficult delivery

The problem is that it took too long to get the cars to dealers.

“We still have only 2,000 cars in the U.S., for example, there should be three times as much,” said Jonsson.

According to the German magazine Focus stays annual sales of 25,000 cars. The figure rejects Saab Head as “pure speculation”.

On Wednesday, the company presents sales for November. During an appearance in Shareholders’ Association on Tuesday evening said Jonsson that it looks good, especially in Sweden, where the rise has continued since last summer.

“We are just over 1000 cars sold in November, he reveals and affirms that the forecast for 2010 remains unchanged.

Own strategy

It also makes projections for 2011 and 2012 by 80 000 and 120 000 cars.

The message from Jonsson and Saab’s chairman Victor Muller to stock market investments the audience was his company’s strategy is not driven by high sales volume.

-Volume is not our primary objective. Saab wants to be a niche player who can sell 120 000 cars a year, that’s what we go after, “said Jonsson.

A few days ago, I took issue with some rumor-mongering in the Swedish press and today, I’m glad I did so. The speculative nature of those reports was completely unwarranted and did nothing but needlessly harm Saab’s current status in the public’s mind. I hope those news outlets have published today’s story as a correction.

Other notes from the meeting, which was streamed online and recorded by some SU readers in comments:

  • Victor says that they think they have found the right partner for a small Saab
  • Sales are now getting into a more ‘normal’ cycle after a slower than expected start.

My thanks to Jan B for the SVT.se translation

The Dude
Guest
The Dude
5 years 9 months ago

He lowered his forecast 4 times already since he bought Saab in April (i mean he bought it for Antonov as a straw man). Very credible. And now he’s says they’re sticking with the latest forecast and everybody here is having a party. Wake up.

Henrik
Guest
Henrik
5 years 9 months ago

How credible are you, calling the 2 times Saab has lowered their forecast for 4?

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