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Spyker fends off asset sales, but not out of trouble

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Spyker fends off asset sales, but not out of trouble

The exotic Dutch sports carmaker is well known for its supercars/ automotive art pieces and also for its unsuccessful bid to enter the global auto making business through Sweden’s Saab.

For a small group of wealthy customers and car fanatics, Spyker was a dream car alternative to the more traditional supercar examples like Aston Martin of Ferrari. But the small series manufacturer and its CEO – Victor Muller – came into widespread attention when GM sold them in 2009 the assets and the Saab brand. That was a long shot attempt, which resulted in the mainstream carmaker going bankrupt and getting new owners in just two years. Spyker returned to building its exotic rides, but its financial health also spiraled down.

Now, on July 25, the company was slated to auction off many of its assets to satisfy the appetite of Dutch tax authorities. Fortunately, the CEO managed to secure funding and averted the sale of a 2007 Formula One car, a race variant of the Spyker C8, some C8 Aileron cars, the D12 Paris-to-Peking SUV concept and a big chunk of Audi engines it uses to motorize its own models.

Although the auction was timely averted, the analysts and industry watchers contend that Spyker is heading again towards collapse in the absence of much needed sales traction from new models. The best example is the new B6 Venator, appreciated by fans and industry professionals alike, which is not yet slated to begin series production, either in its coupe or Spyder convertible versions.

by Aurel Niculescu (my Google+) - Tuesday, July 8th, 2014 - filed under Industry, News, Spyker. Image credit: .
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