Saab buyer's losses soar to €139m

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The Independent Online

Spyker reported a hefty loss for the first half of 2010 yesterday, as the tiny Dutch luxury car-maker absorbed the impact of purchasing the much larger Swedish marque Saab from GM earlier this year.

Spyker's net loss widened from €8.7m (£7.1m) a year ago to €139m, while sales jumped from €4.1m to €243m. The car-maker forecast the company would go into the black in 2012, with Saab sales rising to 120,000.