Saab Automobile Sees Ongoing Momentum in 2010 Sales

ZEEWOLDE, Netherlands, Jan. 7, 2011 /PRNewswire/ -- Spyker Cars N.V., a holding company that owns subsidiaries which produce and sell premium automobiles under the Saab and Spyker brands, today announced 2010 sales and production figures for its subsidiary Saab Automobile AB. Spyker Cars N.V. is listed on NYSE Euronext Amsterdam (ticker symbol SPYKR).

Saab Automobile continued to see growing sales momentum as it released its 2010 sales and production figures today. In the fourth quarter of 2010, wholesale (revenue generating volume) amounted to 11,448 cars, up 129 percent compared to the same period in 2009. Full-year wholesale increased 15% year-on-year to 31,696 cars, on the back of encouraging results in several key markets.

After a strong performance, retail sales in Q4 2010 came in at 10,139 cars, up 32% from Q3 2010. Annual retail sales amounted to 28,284 cars. Total Saab Automobile production in 2010 amounted to 32,048 units, compared to 20,905 units in 2009 (up 53%). Saab Automobile's financial results will be published on 25 March 2011, as part of the annual results report of Spyker Cars N.V.

Both full-year sales and production were heavily influenced by events in the beginning of 2010, as Saab Automobile emerged from liquidation and restarted production at its Trollhattan-based plant at the end of March after a seven-week standstill. As the year proceeded, Saab Automobile continued to see sales momentum increase quarter by quarter in several key markets.

Victor Muller, CEO of Spyker Cars N.V. and Chairman of Saab Automobile, said: "These figures show that Saab Automobile is firmly establishing itself as an independent car manufacturer and reflects the tremendous tenacity shown by all our employees and dealers in what has been an incredibly eventful year for Saab.

"One of the largest challenges in 2010 was to restock our dealers around the world to normal levels again, especially in a market like the United States, where you need dealer stock in order to be able to sell cars. For instance, when we acquired the company in February 2010, there were a mere 500 cars left on the ground in the United States. Normal inventory levels in this market should be at 6,000-7,000 units.

"In 2009, Saab Automobile sold 39,800 cars, but built only 21,000. As a result, inventory levels were depleted by almost 19,000 units. In 2010, we only filled the pipeline with less than 4,000 units. All in all, with all the accomplishments made so far, I am very confident that the foundations for delivering on our business plan are in place."

Saab Automobile President and CEO Jan Ake Jonsson added: "I am very happy with all our achievements since Saab Automobile embarked on its journey as an independent car manufacturer. While exciting new cars like the 9-4X crossover vehicle and the long-awaited 9-5 SportCombi will go on sale this year, we also continue to expand our distribution network into important growth markets such as China and Russia. Furthermore, we will see the full effect of markets we entered in 2010, such as Japan, Canada, Portugal and Australia. I am confident that we can keep up the current sales momentum as we continue to enhance our offering with the biggest-ever product offensive in Saab Automobile's history."

Saab Automobile sales and production

NOTE:

• Wholesale comprises revenue generating sales to dealers, retail comprises dealer sales to end users
• FY 2010 wholesale figure includes 1,400 units GM wholesale to Saab Automobile dealers prior to July 1, 2010

SOURCE Saab Cars North America