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Spyker's Survival 'Highly Uncertain' Without Additional Investors


2009 Pebble Beach Concours

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While the sad tale of bankrupt automaker Saab may officially be over (for now, anyway), the damage caused by its long decline may still claim another victim. Spyker Cars (which used to be called Swedish Automobile when its holdings included Saab) has admitted its future remains uncertain if talks with potential investors prove fruitless.

Spyker, which builds the C8 Aileron and C8 Aileron Spyder, has long been interested in attracting investors or buyers, and previous suitors included CPP Global Holdings and North Street Capital. Both have been silent in recent months, likely waiting to see the impact of Saab's bankruptcy on Spyker, which also had issues obtaining components from suppliers.

As De Telegraaf reports, Spyker Cars posted a net profit of 126 million euros ($154 million) in the first half of 2012, despite an operating loss of 1.4 million euros ($1.7 million). The profit was largely derived from financial restructuring and company recapitalization, which added some 131 million euros ($161 million) to Spyker’s bottom line.

CEO Victor Muller calls the company “virtually debt free,” and suppliers are again delivering components to build Spyker C8 Aileron models. Whether or not this will be enough to attract investors in the boutique luxury supercar builder remains to be seen.
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