Why I Don't Trust Saleen Automotive

[@thetoppingshow]

The Saleen S7 is a iconic piece of automotive history and a true enthusiast car, that's the Saleen we all know and love. Now they keep trying to raise funds (and of course they are non voting stock). I think they need to go back to modifying cars, build up revenue and track record again then come out with another super car. There are people who still want a stick shift fun car.

[@paulcarmi8130]

I've seen the s281 extreme in silver before here in Colorado. That's the only sn95 mustang that doesn't suck

[@CHMichael]

When a company like this is asking the general public that doesn't have the tools to do due diligence, it's because people that do, already said no.

[@switchcars]

Said it better than I did!

[@CHMichael]

@@switchcars thank you so much

[@ItsFranksWorld]

BINGO.

[@Bncxx1275]

@@switchcars oh man i was hoping to see S1 compare to maserati mc20 Reality like a joke afterall

[@Todd_S]

Saleen is falling the way of conversion van companies of the 1990's.

[@JoeBleaux69]

I never trusted them. They’ve always been a bit sketchy and looking more like a emergency cocaine acquisition project than a car company

[@camdentaylor68]

I saw the ad they put out and my BS meter maxed out. Why would a company want to embarrass themselves publicly begging for money? Because anyone who has money and common sense realized that they sold and licensed everything of value the company has. It is a name that could at any point could collect investment and fold it immediately. They backed themselves into a corner from poor deals and miss management and now have no IP. The car they are trying to crowd fund will never see more than 10 sellable units, I believe that so much I’d put money on it.

[@nonjinxable]

This is a cat company that has 9 lives. I did the same dive into the financials. I found they owe the state of California back payroll taxes in the $300,000’s. That debt does not ever go away. Saleen has always had poor management. They were a customer of mine and paid $6,000 an invoice net 120 days. A poorly managed company. Steve Saleens daughter, Molly was the “VP of Marketing” for 9 months. They have no job postings and their cash on hand is never more than $28k.

[@JoeBleaux69]

SPAC? 😂

[@joeb7975]

i had an 05' S281 - fun car but god awful build quality