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Filed under: Saab, Earnings/Financials, Spyker

Around the same time that Ake Jonsson stepped down as chief executive of Saab, the Swedish automaker announced its expansion into the Russian and Chinese markets – a vital move if Saab is to increase its global market share. But it’s not just the cars that Saab and its parent company Spyker are interested in selling in these two giant markets. It’s also looking to offload shares in an effort to raise much-needed capital.

The first address is Vladimir Antonov, a man who shares a considerable history with Spyker. The Russian banker and multimillionaire oligarch was once the company’s largest single shareholder and acted as its chairman, and is also the owner of CPP Manufacturing, to which Spyker sold its own sportscar business. After investigations alleged ties to organized crime, however, General Motors stipulated that Antonov had to leave the company before it would transfer ownership of Saab. Those allegations have apparently now been either disproven or swept under the rug as Antonov has now been cleared by both GM and the Swedish National Debt Office to invest as much as 30 million euros in Saab for a 30-percent stake in the company.

Following that revelation, Saab is also said to be closing in on a deal with a major Chinese carmaker, following a similar path that led crosstown rival Volvo to align itself with Geely following its sale by Ford. Among the manufacturers with which Spyker is reportedly undergoing discussions are the Great Wall Motor Co., China Youngman Automobile Group and Jiangsu Yueda Group, all relatively small players even in China’s domestic market. Even so, they could provide the capital Saab needs to continue operating, and if they can, Saab’s certainly in no position to pick and choose.

Saab closing in on deal with Russian, Chinese investors originally appeared on Autoblog on Mon, 02 May 2011 16:20:00 EST. Please see our terms for use of feeds.

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Filed under: Japan, Plants/Manufacturing, Toyota, Earnings/Financials

Toyota President Akio Toyoda caused something of an uproar in the automaker’s home market of Japan when he suggested that “logically, it doesn’t make sense to manufacture in Japan.” Why? The surging value of the Yen, currently at a 15-year high, compared to the U.S. Dollar.

Considering that the vast majority of vehicles Toyota builds in Japan are intended for export and that the American market is still the automaker’s most important, the value of the Yen is a major stumbling block standing in the way of profits. Still, Toyoda has confirmed that his eponymous company has no intention of entirely halting production in Japan.

What that assurance doesn’t mean, however, is that Toyota won’t continue to shift production overseas in an effort to retain profitability. While none of the Japanese plants will be completely closed, they may see a good portion of their output transferred to facilities in other markets… notably North America.

[Source: Just-Auto]

Report: Toyota president assuages fears that he’s closing all Japanese factories originally appeared on Autoblog on Tue, 19 Oct 2010 18:01:00 EST. Please see our terms for use of feeds.

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