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UPDATED!

The Local, provider of Sweden’s news in English, has posted an article about Saab Automobile’s business results for the last few years.

Traditionally, GM Europe don’t separate financial results for their business groups, but Swedish newspaper Dagens Industri does make what are it’s best estimates. DI claim that Saab lost around 2.2 billion kronor in 2007, which was down from an estimated 2.9 billion in 2006 and an even deeper 3.8 billion in 2005.

What’s even more impressive is that Saab’s losses were reduced in 2007, despite selling less cars that year than in 2006.

The reduction is credited to Saab’s successful cutting of expenditure in the last few years. Jan-Ake Jonsson spoke to the newspaper, saying that he was pleased with the result, and is forecasting that Saab would be in the black in either 2009 or 2010.

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UPDATE: Matthijs has sent in some commentary on these numbers that goes a long way towards putting them into context:

The financial reporting to the government (public figures) of Saab is based on the Swedish legal requirements on Saab Automobile AB, which is the legal entity that employs the people working in Trollhättan and the bookkeeping of that company. This means that the 9-7x is not covered by this reporting, but the costs concerning development activities for GM and manufacturing the BLS are. Since we buy a lot parts from GM, and that GM can invoice Saab whatever they like, it is all a big bookkeeping mess. If there is a tax advantage to book a big loss in Sweden, it is no problem for GM to make it happen that way.

In short, these figures say NOTHING about reality and cannot be used as such.

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In other news from Sweden, Saab’s sales for July were as follows. My thanks to ctm for sending them through.

Total Market
Jul: -18%
Jan-Jul: -9%

1: Volvo V70
Jul: 1112 vehicles,
Jan-Jul: 12839

2: Saab 9-3
Jul: 880 vehicles, -9%
Jan-Jul: 8016, +7%

3: Volvo V50
Jul: 754 vehicles, -4%
Jan-Jul: 6940, +4%

4: VW Golf
Jul: 633 vehicles, +21%
Jan-Jul: 6804, +32%

5: Saab 9-5
Jul: 508 vehicles, -35%
Jan-Jul: 4671, -30%

—

108: Cadillac BLS
Jul: 16 vehicles, +14%
Jan-Jul: 206, +60%

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So far this year:
Saab 9-3 – 71% E85, 25% Diesel
Saab 9-5 – 89% E85, 10% Diesel

——-

Environmentally friendly cars:

Jul: 32% (19%) of total market.
Jan-Jul: 31% (15%) of total market.

1: Saab 9-3
Jul: 672 vehicles (759)
Jan-Jul: 5723 (2588)

2: Volvo V70
Jul: 404 vehicles
Jan-Jul: 4915

3: Volvo V50
Jul: 492 vehicles
Jan-Jul: 4219

4: Saab 9-5
Jul: 473 vehicles
Jan-Jul: 4141

—

38: Cadillac BLS
Jul: 6
Jan-Jul: 112

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