Spyker Cars to become Swedish Automobile

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The Dutch car manufacturer Spyker Cars is to change its name to Swedish Automobile. Spyker Cars, which took over the ailing Swedish company Saab from General Motors a year and a half ago, announced that share holders agreed to the name change last month.

The reason behind the name change, which will take place on 15 June, is that the sports car brand 'Spyker' has been sold to Russian investor Vladimir Antonov.

Meanwhille on the financial markets, share prices fell another 10 percent today following reports that the production of the Saab cars has been temporarily halted. In the last week, share values have fallen 32 percent.

The carmaker has been having difficulties recently getting hold of parts. According to the , there have been intermittant stoppages as suppliers have refused to supply parts after Saab failed to pay bills. A spokesperson for the carmaker says production will resume on Wednesday.

© Radio Netherlands Worldwide

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