Saab to announce $365 million loss for 2007

Though the report is still unofficial, Saab is believed to have posted a $365 million loss for 2007. The company is framing the result as an improvement on its figures for 2006, especially since the loss from operations in 2007 was smaller than the preceding year in spite of sales being down 7,800 units as well.

The news, reported by Swedish financial paper Dagens Industri, reveals that Saab sold about 125,000 cars in 2007, and while that figure is down about 6% compared to 2006 numbers, the company lost about $116 million less in 2007. Saab CEO Jan-Ake Jonsson is quoted as saying, "I am satisfied that we managed to improve the result despite a drop in sales."

Saab managed the turnaround via higher margins and cost-cutting. A new round of model development was also on the tab for 2007, and several of those new cars will be launched in 2009 and 2010. By that time the company hopes to be turning a profit as the new models revive sales and push up profits.

Some of the concepts and cars that will help drive Saab's return include the 9-1x, the next-gen 9-5, the 9-4X, and a possible car based on the 9-X BioHybrid.