Spyker, the Dutch sports car maker that bought Saab from General Motors earlier this year, has posted another loss.
It also trimmed Saab’s sales targets and said it would continue to lose money through next year.
Spyker’s shares plunged as the company acknowledged it may have been too optimistic on Saab’s earlier targets.
The stock has lost two-thirds of its value since Spyker announced the deal to buy Saab in January.
Spyker posted a loss of 139.1 million euros on sales of 243.1 million euros.
Saab CEO Jan Ake Jonsson said last month he was confident it could reach a goal of selling 45,000 to 50,000 Saab cars this year.
“Maybe we were a little bit optimistic” about the high end of the range, Jonsson said.
He added that Saab’s restart when it came out of liquidation took longer than expected.
Jonsson added he was optimistic about the newly launched Saab 9-5, which is just now arriving in the United States and ramping up in Europe after the summer holidays.