Spyker Predicts Sharp Rise in Sales and Production
January 25, 2008

Dutch luxury sports-carmaker, Spyker Cars NV, predicts sales will rise “sharply” in the first quarter of 2008, now that it has eased production problems and increased the flow of parts from suppliers, Bloomberg News reports.

It won’t take much for a sharp rise; Spyker delivered a whopping four sports cars in the fourth quarter, the company said.

“It will take into early second quarter until the entire production process is properly functioning,'' Spyker said in a statement.

Spyker has struggled financially, having borrowed nearly $24 million from Vilnius, Lithuania-based AB Bankas Snoras last year in return for a stake in the company. The automaker also agreed to sell its Midland Formula 1 racing team to Indian billionaire Vijay Mallya and former CEO Michael Mol's Strongwind group after reporting a first-half loss.

“Now that Spyker has successfully refinanced its business, it is expected that the company can execute its chosen future business strategy,” the carmaker said in the statement.

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