Can sports car maker Spyker really save Saab?

Today, Spyker‘s CEO Victor Muller said that Saab (his firm’s new addition) would struggle to sell 100,000 cars this year. This despite his insistence that he was ”looking forward to a bright and exciting future” on the announcement of the deal.

News came on Tuesday, that Saab has been saved from oblivion by Dutch sports car manufacturer Spyker. General Motors, the world’s second-largest car seller had begun to wind up the Saab’s operations. The last-minute deal inked with Spyker will yield Saab $74 million in case and $326 million in preferred shares in Saab. The deal is expected to be completed by the end of next month and both Saab and Spyker will be managed by a new parent company Saab Spkyer Automobiles.

Part ownership by General Motors paired with an investment of $600 million came in 1989. Saab’s DNA was shared with GM’s Opel Vectra. By 2008, GM sales were hurting and it put the Saab marque under review. Saab sales in 2008 numbered 95,000. Sales dropped to 40,000 the following year.

Saab has been in sale ping-pong for many months now. Spyker had jumped into the breach after Koenigsegg (another sports car maker) pulled out citing successive delays in closing the deal as its reason. Spyker’s deal beat a competing offer by investment firm Genii Capital and F1 honcho Bernie Ecclestone.

While Saab has been on the ropes, it has been hard at work in reinventing itselfin order to find its customers that have moved to other manufacturers. Just last September, Saab showed off its rebooted 9-5 at the Frankfurt Auto show.

Video via WorldCarFans.com

Built on GM’s Epsilion saloon, the new 9-5 appears to be a completely different animal. Gone is the paneling that creased the sides. Detailing around the cab is much more subtle. The new 9-5 is sleek and built to The gently sloping canopy sinks into the boot, a swift nod to the classic 9-5 profile. Engine sizes differ too, moving down a fwe notches. The range starts at a 1.6l turbocharged up to a max 2.8l V6. On launch, Saab will ship the 2.0l four cylinder turbodiesel with 160 brake horsepower.

Production of the new 9-5 has already begun in Saab’s facilty at Trollhättan and the new model is due on forecourts before the Autumn. Could it help win back Saab fans? Time will only tell.