Saleen done for?

[mavisky]

http://jalopnik.com/mustang-tuner-saleen-says-it-owes-millions-of-dollars-1661373045

Owes about $5M more than they have. Defaulting on bank loans. Basically need a multi-millionaire to just drop off a check no questions asked or they may be completely done for.

 

[luke1333]

ive been reading about this all afternoon i think they are done. dont think they can recovery even if a multi-millionaire drops them a blank check. the greater questions is where does roush stand

 

[Explosive]

ive been reading about this all afternoon i think they are done. dont think they can recovery even if a multi-millionaire drops them a blank check. the greater questions is where does roush stand

Roush isn't hurting....

 

[Zemedici]

what...how does that happen?

They're just doing this so they can file bankruptcy and bounce back.

 

[JpL4K3]

No one left dumb enough to drop the coin they expect on a Mustang GT with a body kit that takes a $20,000 hit once driven off a lot.

 

[luke1333]

Roush isn't hurting....

you sure?

what...how does that happen?

They're just doing this so they can file bankruptcy and bounce back.

probably

No one left dumb enough to drop the coin they expect on a Mustang GT with a body kit.

that is why i mentioned roush too. nobody knew saleen was this bad until its too late

 

[JpL4K3]

that is why i mentioned roush too. nobody knew saleen was this bad until its too late

Not sure how Roush continues to do it.

 

[luke1333]

Not sure how Roush continues to do it.

agreed. i would think if saleen is in trouble roush isnt far behind

 

[ponyboyisaac]

That really sucks. It's been a long time coming though. Things have been pretty crappy for that company for years now, and even when steve saleen recovered the saleen name it was just a matter of time for it to go under.

In my opinion, they should have stopped being a tuner for mustangs a long time ago. They should have just offered their mustang parts in a catalog/website and stopped modifying mustangs themselves. Just a thought.

 

[R.D.P.]

Two cents a share? Down from almost a dollar a share a year ago? Ouch.

 

[badcobra]

Roush Performance is only just a small subsidiary of a much larger conglomerate. Most of their money come from doing test/development work for the big 3 and their NASCAR operation.

 

[Roots-type]

Mustangs are a very, very small part of what Roush is involved in.

Think NASCAR, guys.

This looks like a great opportunity for someone with deep pockets to become a silent partner of saleen.

 

[luke1333]

Two cents a share? Down from almost a dollar a share a year ago? Ouch.

we should all buy if they file and reform lol

 

[JpL4K3]

I do think Roush is in a ton more dealers then Saleen. With how expensive the Mustang hss become the average person isn't going to be able to stretch their wallet for the Roush add ons. I remember going to a Roush meet a couple years ago and a handful of the owners were sick to their stomachs when they found out what their cars were worth when wanting to trade them in.

 

[STXDriver98544]

It really is sad though, I've always had a huge love for their designs up to 04'. These 11-14 models are just absolutely :xpl:

 

[Dirks9901]

you sure?

Not sure how Roush continues to do it.

Not a chance. Roush industries has there hand in a ton of industries. Including Ford and SVT. I know that for certain.

I would imagine there bread and butter is not dependent on how many Roush mustangs they sell. I know quite a few higher ups at Roush and like every other company on the planet, if its not profitable, they wouldn't do it.

 

[4rd Toys]

[Don't know about now]

But with "Saleen", the vehicles are built by them are considered as "manufactured". Meaning its a "Saleen", not a Ford....
And with "Roush", they are (or were) considered "conversion-vehicle". Meaning its a "Ford" with aftermarket parts....

But again that was back in 2007, when I helped with "family" while "shopping" for a new performance pick-up since they liked my Lightning but wanted a back-seat:
Supercharged H-D F-150
Roush-charged/Performance F-150
Saleen S-331 "Supercharged"

 

[luke1333]

Not a chance. Roush industries has there hand in a ton of industries. Including Ford and SVT. I know that for certain.

I would imagine there bread and butter is not dependent on how many Roush mustangs they sell. I know quite a few higher ups at Roush and like every other company on the planet, if its not profitable, they wouldn't do it.

Good point and Roush is tied into Ford racing and frpp

 

[SID297]

Everybody who is anybody in the auto industry has known for years (well over a decade) to not sell Saleen anything on credit. That company, in all its iterations, has screwed over more businesses than you can imagine. I'm just surprised it's not more well know.

 

[4rd Toys]

Everybody who is anybody in the auto industry has known for years (well over a decade) to not sell Saleen anything on credit. That company, in all its iterations, has screwed over more businesses than you can imagine. I'm just surprised it's not more well know.

If I'm not mistaken, the "first time" was back in late 2009 & early 2010.....