Spyker Stocks Soar, But Sergio Isn't Buying
Here’s a situation in a hypothetical tense for you. If you were the CEO of a car company which never made a profit in 11 years and you offered to pay $74 million for a car company which hasn’t made a profit since 2001 and had a badly damaged brand, how would you expect your share price to go? Trust me, you’re not even close. MarketWatch.com reports that Spyker shares soared as much as 74% when they announced they had reached an agreement to buy Saab from General Motors. Spyker’s market capitalisation is now €107 million, four times more than when GM first put Saab up for sale.
I like the Saab brand, [but] I think it’s very difficult to be a niche player and profitable. Marginal players will continue to be marginalized. We cannot build on hopes and dreams.
Unless the American government has been kind enough to underwrite those hopes and dreams, right Sergio?
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- Kwik_Shift_Pro4X Thankfully I don't have to deal with GDI issues in my Frontier. These cleaners should do well for me if I win.
- Theflyersfan Serious answer time...Honda used to stand for excellence in auto engineering. Their first main claim to fame was the CVCC (we don't need a catalytic converter!) engine and it sent from there. Their suspensions, their VTEC engines, slick manual transmissions, even a stowing minivan seat, all theirs. But I think they've been coasting a bit lately. Yes, the Civic Type-R has a powerful small engine, but the Honda of old would have found a way to get more revs out of it and make it feel like an i-VTEC engine of old instead of any old turbo engine that can be found in a multitude of performance small cars. Their 1.5L turbo-4...well...have they ever figured out the oil dilution problems? Very un-Honda-like. Paint issues that still linger. Cheaper feeling interior trim. All things that fly in the face of what Honda once was. The only thing that they seem to have kept have been the sales staff that treat you with utter contempt for daring to walk into their inner sanctum and wanting a deal on something that isn't a bare-bones CR-V. So Honda, beat the rest of your Japanese and Korean rivals, and plug-in hybridize everything. If you want a relatively (in an engineering way) easy way to get ahead of the curve, raise the CAFE score, and have a major point to advertise, and be able to sell to those who can't plug in easily, sell them on something that will get, for example, 35% better mileage, plug in when you get a chance, and drives like a Honda. Bring back some of the engineering skills that Honda once stood for. And then start introducing a portfolio of EVs once people are more comfortable with the idea of plugging in. People seeing that they can easily use an EV for their daily errands with the gas engine never starting will eventually sell them on a future EV because that range anxiety will be lessened. The all EV leap is still a bridge too far, especially as recent sales numbers have shown. Baby steps. That's how you win people over.
- Theflyersfan If this saves (or delays) an expensive carbon brushing off of the valves down the road, I'll take a case. I understand that can be a very expensive bit of scheduled maintenance.
- Zipper69 A Mini should have 2 doors and 4 cylinders and tires the size of dinner plates.All else is puffery.
- Theflyersfan Just in time for the weekend!!! Usual suspects A: All EVs are evil golf carts, spewing nothing but virtue signaling about saving the earth, all the while hacking the limbs off of small kids in Africa, money losing pits of despair that no buyer would ever need and anyone that buys one is a raging moron with no brains and the automakers who make them want to go bankrupt.(Source: all of the comments on every EV article here posted over the years)Usual suspects B: All EVs are powered by unicorns and lollypops with no pollution, drive like dreams, all drivers don't mind stopping for hours on end, eating trays of fast food at every rest stop waiting for charges, save the world by using no gas and batteries are friendly to everyone, bugs included. Everyone should torch their ICE cars now and buy a Tesla or Bolt post haste.(Source: all of the comments on every EV article here posted over the years)Or those in the middle: Maybe one of these days, when the charging infrastructure is better, or there are more options that don't cost as much, one will be considered as part of a rational decision based on driving needs, purchasing costs environmental impact, total cost of ownership, and ease of charging.(Source: many on this site who don't jump on TTAC the split second an EV article appears and lives to trash everyone who is a fan of EVs.)
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"What do the markets see that I don’t to warrant Spyker’s shares going up?" Simple. Spyker has now tapped into a flow of US taxpayer money, and probably some from Sweden too. Spyker is being paid to take Saab off the hands of Government Motors. Team Washington will pay a high price indeed to be extricated from their unpopular rescue of Detroit - as long as the exit can be made to look like something other than failure, and the price tag can be hidden.
I used to be a relatively happy curmudgeon, working on mostly Saabs for the last thirty years. Now unfortunately, I have to work on virtually everything. Our shop, and Im sure many others survive because of horribly engineered products made by Chrysler, followed closely by Jokeswagon/Audi and the other german wundercars. Sometimes, we really want to see copies of the degrees of the jackasses that sign off on this crap. And Sergio bought Chrysler? Talk about something that needed to be put out of everybodies misery.