Saleen Has $7k But Owes $7 Million: Is it Sayonara?

It seems that sometimes not even a household name and amazing product can save a company from financial ruin. Automotive brand Saleen is on the verge of sayonara unless an infusion of money turns up soon, according to the company’s investor site. It is strange to think of such a well-known player being hit so hard.

Saleen s7Will Saleen find a savior or is it sayonara?

Saleen is behind so many amazing vehicles since the 1980s, including Bumblebee and Barricade from the Transformers flicks. The S5 Raptor, S7, and a variety of aftermarket mods are all thanks to Saleen. The aftermarket performance division of Saleen is responsible for custom exhausts, wheels, brakes, turbochargers and mad tweaks on many different vehicles. So how did the company find itself with just $7,261 dollars to its name?

SaleenThe reports

The investor’s site shows that Saleen has just that amount of cash left and a staggering $7 million in unpaid wages, payroll taxes, loans and other debts. The assets for Saleen currently total just $1.4 million.

The Tesla Model S and a modified 2015 Ford Mustang (S302) have just been launched, but likely will not be enough to save the day. What the brand needs is a very generous new investor or several standard investors to pump in some funds to keep things afloat while sales make it to home stretch and a recovery can begin to take effect.

Saleen transformers carsFun fact: The Saleen S7 is the only current production car not based on an existing chassis or design.

A quirky brand

Let’s end this sad story on an upbeat note: Back in 1985, founder Steve Saleen’s secretary made the mistake of miscounting the units produced. She mistook a 6 for a 9, omitting vehicle #6. In good humor, the brand began a tradition of intentionally omitting a #6 chassis on all vehicles. To drive the funny home, when a Mustang gets a Saleen bodykit, it is marked with a #6.

SaleenPost by Imagine Lifestyles Luxury Rentals