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    Koenigsegg facing liquidity crisis

    According to web-based swedish business paper Realtid.se , Koenigsegg has 1.6 million SEK (equiv. to $240.000) left in cash and a rights issue is urgently needed to shore up the finances. A rights issue is planned to close at the latest last of september but at the time of writing it is unclear whether anyone is interested in participating.

    No one at the company wanted to comment. They were more than happy to talk about the upcoming US introduction though.

    Last year Koenigsegg lost 25.7 million SEK ($3.8mn) on a turnover of 24.8mn ($3.7mn).

    The turnover number is quite interesting, i think, and implies something like 5 sold cars. But doesn't they claim to have sold more than that? Anyone know?

    K

    Re: Koenigsegg facing liquidity crisis

    Interesting that despite the explosion in wealth across the globe in recent years, extremely high end sports cars aren't really in demand.

    My theory is that for the average person such cars are only useful in attracting women. And since most of the old rich guys are already married they don't see any reason to buy these cars.

    "If women didn't exist, all the money in the world would have no meaning."
    -- Aristotle Onassis

    Re: Koenigsegg facing liquidity crisis

    Quote:
    palenimbus said:
    Interesting that despite the explosion in wealth across the globe in recent years, extremely high end sports cars aren't really in demand.




    Good high end sports cars are in demand
    http://www.youtube.com/watch?v=JXjjpQwHDI4

    Re: Koenigsegg facing liquidity crisis

    Quote:
    temm said:
    Quote:
    palenimbus said:
    Interesting that despite the explosion in wealth across the globe in recent years, extremely high end sports cars aren't really in demand.




    Good high end sports cars are in demand
    http://www.youtube.com/watch?v=JXjjpQwHDI4



    What a nasty comment.

    Re: Koenigsegg facing liquidity crisis

    Quote:
    palenimbus said:


    My theory is that for the average person such cars are only useful in attracting women. And since most of the old rich guys are already married they don't see any reason to buy these cars.




    To attract this kind of women a simple 911 Convertible is enough so why pay more.... my opinion (No I'am not rich and not old)

    Re: Koenigsegg facing liquidity crisis

    Quote:
    Turbo said:
    Quote:
    palenimbus said:


    My theory is that for the average person such cars are only useful in attracting women. And since most of the old rich guys are already married they don't see any reason to buy these cars.




    To attract this kind of women a simple 911 Convertible is enough so why pay more.... my opinion (No I'am not rich and not old)



    yeh and what happens when nick drives by in his yellow Ferrari? Then what? Then is when you need the Koenigsegg

    Re: Koenigsegg facing liquidity crisis

    Story from Africa

    Whilst walking a lion heard some desperate calls for help emanating from deep within the bush. He quickly identified the location from where the calls were coming from and to his surprise he saw that an elephant had fallen into a hole that some hunters had dug as a trap.
    The elephant pleaded for the lion to help him, but the lion said he would but had to think how he was going to get the heavy elephant out of the hole.
    Suddenly he remembered his Ferrari parked in his garage, so he rushed home and returned with the Ferrari and a rope.
    He threw the elephant the rope and having tied one end to his Ferrari, he proceeded to pull the elephant out of his predicament.
    The elephant couldn't thank him enough and swore that some day he would repay the Lion.

    Years later the same elephant was walking in the bush when he heard a lion calling for help from the same hole that he had fallen into so many years ago. Upon investigating the occurrence, he discovered to his great surprise that the same Lion that had saved his life so many years ago was now trapped and could not climb out of the whole.

    The elephant was poor and had no Ferrari so he sat for a while and thought about how he was going to save his friend.
    All of sudden he had a brilliant idea.
    He put one two legs on one side of the whole, and firmly placed the other two on the opposing side of the hole and let his large C#4% hang down. He told the lion to grab on to it and then the elephant slowly walked forward, and thus pulled the lion out of the hole.

    The moral of the story is: If you have a large C#4%, you don't need a Ferrari!

    Re: Koenigsegg facing liquidity crisis

    Lol, I still want a Ferrari to.

    I to thought that the Swedish firm had a much higher production than 5 cars.
    I always assumed they rivalled Pagani for sheer number of
    cars made.

    Re: Koenigsegg facing liquidity crisis

    Quote:
    KG said:
    Last year Koenigsegg lost 25.7 million SEK ($3.8mn) on a turnover of 24.8mn ($3.7mn).





    Wow - loss exceeding turnover If this would be a software company 8 years ago it would make for a good equity story for an IPO with this kind of burn-rate

    On topic: my take is that most buyers of such cars (unless they are just collecting them like the Sultan of Brunei) want a reliable supplier (reasonable size, strong balance sheet etc.) who probably survives at least for a couple of years. I don't think that the demand for supercars is that weak (for example both Porsche and Ferrari had no problems to sell CGTs and Enzos).

    Re: Koenigsegg facing liquidity crisis

    I thought there were problems selling CGTs? Enzos sold like hot cakes because they are a real collectors item which was sure to appreciate in value.

    Re: Koenigsegg facing liquidity crisis

    Quote:
    palenimbus said:
    Interesting that despite the explosion in wealth across the globe in recent years, extremely high end sports cars aren't really in demand.

    My theory is that for the average person such cars are only useful in attracting women. And since most of the old rich guys are already married they don't see any reason to buy these cars.

    "If women didn't exist, all the money in the world would have no meaning."
    -- Aristotle Onassis



    Agree...vast majority of wealthy guys aren't car guys....and car mfrs have done a poor job of convincing non-car guys why they should bother w/annoying car dealers; silly waitlist games; and cars that struggle to make it into most fuel stations/pkg garages....

    Even the less astute non-car guy (married/not, potent/not ) prob knows it's far cheaper/more efficient/more effective to simply award "scholarships" to deserving hotties than to get an impractical, wannabe-racecar to try to attract chicks....

    From what I understand, new Enzos@MSRP were a difficult sale in various EU mkts (incl France, which presumably the London/MC crowd would have tapped to arb any new Enzos ); and CGT was a difficult sale in both US and EU, even at discts to MSRP....

    Re: Koenigsegg facing liquidity crisis

    Quote:
    palenimbus said:
    I thought there were problems selling CGTs? Enzos sold like hot cakes because they are a real collectors item which was sure to appreciate in value.


    CGT was the best selling supercar ever made. Yes, the prices were discounted at the end, but they still sold ALOT (I think around 1,300) of cars for over $400k - that is a record...

    Re: Koenigsegg facing liquidity crisis

    There were problems selling the cars, while there were no problems of building them. I know that PCNA bought many cars without having customers for them.

    Also if you look around at the american market, there are around 20-30 cars for sale with between 100 and 3000mls on the clock....

    Worldwide there are around 40-50 cars for sale, now look how many Enzos are for sale

    Re: Koenigsegg facing liquidity crisis

    Quote:
    Grant said:
    Quote:
    palenimbus said:
    I thought there were problems selling CGTs? Enzos sold like hot cakes because they are a real collectors item which was sure to appreciate in value.


    CGT was the best selling supercar ever made. Yes, the prices were discounted at the end, but they still sold ALOT (I think around 1,300) of cars for over $400k - that is a record...



    The record for Supercar sales is 1315 units held by the Ferrari F40.

    Demand was so high for the F40 that some poeple were paying 5 times the MSRP!

     
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