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Spyker's 2010 Saab sales at low-end of guidance

Published 01/06/2011, 01:20 AM
Updated 01/06/2011, 01:24 AM

* FY sales 31,696 vs forecast 30,000-35,000

* Says Q4 sales jumped 129 percent year-on-year

* Sales momentum 'continues to grow'

AMSTERDAM, Jan 6 (Reuters) - Loss-making Dutch car marker Spyker said its unit Saab sold 31,700 cars over 2010, at the low end of its guidance, as it reported a 129 percent jump in fourth quarter sales at its premium Swedish brand.

Spyker, the Dutch luxury sports car maker which acquired much larger Saab early last year, said Saab sold 11,448 cars in the fourth quarter, up 129 percent compared with the same period in 2009 and up 31 percent quarter-on-quarter.

Saab sold 31,696 cars over 2010 after it had cut its full-year sales target in October to 30,000 to 35,000 units, from 45,000 previously, because it had to rebuild its supplier base after the unit was bought by Spyker from General Motors.

In a statement late on Wednesdsay, Spyker said after production was severely disrupted at the start of the year, Saab Automobile continued to see sales momentum increase quarter by quarter in several key markets.

"I am confident that we can keep up the current sales momentum as we continue to enhance our offering with the biggest ever product offensive in Saab Automobile's history," Saab Chief Executive Jan Ake Jonsson said in a statement.

The company said it will continue to expand its distribution network in China and Russia and that it expects to see the full effects in 2011 of its entry last year into markets such as Japan, Canada, Portugal and Australia. (Reporting by Aaron Gray-Block; Editing by Hans Peters)

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