Tag Archives: News

SPORTRUCKS HEADING TOWARDS MURFREESBORO

From Saleen Automotive.

Ford of Murfreesboro has this group of trucks on the way to add to their inventory of S302’s and trucks already there. Check them out in Tennessee, they can take care of your Saleen needs in time for Christmas!

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[Source: Saleen Automotive]

SALEEN AUTOMOTIVE SHAREHOLDER RELEASE

November 2018

We would like to provide you with our latest update of what has been happening with Saleen Automotive. To start with, I am very grateful to all of you, our shareholders, as well as our employees, suppliers, and friends who have supported us and allowed the company to get to where it is today.

SALES AND PRODUCTION

During the first half of our fiscal year, we have had exciting new developments in our Signature Car line:

● 2018 newly designed Mustang Model production began in February 2018
● S7 Lemans Edition deliveries began in July 2018
● Debut of the Saleen STX Street Sport Truck and the Saleen XR Off-road Sport Truck, with production starting in March and August 2018, respectively
● Debut of the Saleen 35th Anniversary Mustang 2019, with production starting in September 2018

In the first half of this fiscal year, we began production of our new 2018 Saleen Mustangs and two new Saleen High Performance Sport Trucks (street and off-road models). All of these new Saleen vehicles have been very enthusiastically received by the public and the automotive press. This marks the first time in several years that Saleen has had two different vehicle programs in full production at the same time. As a result, we expect increased revenue growth in the upcoming year.

We have successfully begun delivering our LeMans S7 Supercars in a limited production run. These new supercars have a 1,500 horsepower engine. Additional deliveries of the S7 Supercars are anticipated by the end of this calendar year and will add top line revenue.

We unveiled our newest supercar, the Saleen 1 at the LA Car Show and received overwhelmingly positive responses from the automotive press and car enthusiasts. We are continuing to work on the engineering, design and development of the Saleen 1 in order for it to be ready for production later this year. In April of this year, we renewed our agreement with our Chinese partner to continue the engineering, design and development of the Saleen 1 and received an advance on the contract of $1.9 million.

Over the past year and continuing on in this fiscal year, we have entered into arrangements with new dealers and expanded our relationships with existing dealers. We have experienced increased social media presence and increased fan base.

In August of this year, our CEO and Chairman of the Board, Steve Saleen, was presented with the Legends of Auto Award at a ceremony held in Monterey, CA. Previous recipients of the Legends of Auto Award include such automotive luminaries as Lee Iacocca, Jay Leno, Roger Penske, and the late Carroll Shelby.

Our Open House on September 15, 2018 had a larger than expected turnout and was well received by all in attendance.

FINANCIAL RESTRUCTURING

The Company has completed the audit of its fiscal year-end March 31, 2018 financial statements and its financial restructuring program that was announced last year in October 2017. Virtually all of the Company’s $8.5 million of convertible notes was converted into equity, which had a dramatic positive impact on the Company’s balance sheet. The Company’s 2000:1 reverse split of its common stock was effective on December 19, 2017, with all preferred shares converting to common shares at that time.

Financial Statement Results:
● Current assets increased year-over-year. The majority of this increase related to an increase in cash and accounts receivable.
● Total liabilities decreased significantly year-over-year. The decrease in total liabilities was due to the conversion of $8.5 million of convertible notes and accrued interest during the fiscal year ended March 2018 and the reduction of other current liabilities due to the use of funds received from the Company’s private placement of preferred stock of $2.3 million in December 2017.
● Total shareholders’ deficit decreased year-over-year as a result of the conversion of $8.5 million of notes and accrued interest in December 2017.
● Revenue increased year-over-year and was attributable to increased revenue under the
Company’s engineering, design and production arrangement.

For the year ahead, we anticipate increased revenue from both our Signature Cars and under our engineering, design and development contract. Increased revenue and reduced expenses, combined with a stronger balance sheet, should lead to increased value for our shareholders. The Company is working toward re-registering it’s stock and hopes to be trading again in the first quarter of 2019.

COME JOIN US

Every Saturday morning, from 7:00am to 9:00am, the Company hosts Coffee & Cars in conjunction with the City of Corona. Held in the parking lot of our Corona headquarters, this event draws 100 to 150 classic cars and their owners every week who get together to share their knowledge and show off their prized possessions. Everything from Model A Fords and Chevrolet Bel Aires to Vipers and Corvettes are on display, along with Saleen automobiles.

QUESTIONS?

Please contact Ronda Ferguson, CFO, for Saleen Automotive with any questions. She can be reached by email at rferguson@saleen.com or call her at 714-400-2121.

SAFE HARBOR STATEMENT – This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Saleen Automotive products, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, and the adequacy of the Company’s liquidity and financial strength to support its growth.

[Source: Saleen Automotive]

RARE EARLY ‘SALEEN MUSTANG’ OWNERS JACKETS HIT eBay

1986 Saleen Mustang Owners Jacket
1986 Saleen Mustang Owners Jacket

Price: $665.00
Year: 1985
Condition: New
For Sale By: Private Seller
eBay #: 173643447341

Price: $700.00
Year: 1986
Condition: New other
For Sale By: Private Seller
eBay #: 173644573689

Most folks in our hobby are aware of the exclusivity of Saleen production vehicles. Rare and uncommon sights throughout daily life. What some may not realize are how the vehicle assets and “extra” items are rarer than the physical automobile.

Case in point are the early Saleen Mustang Owners Jackets. These jackets were issued to new owners after they returned their survey card to Saleen Autosport regarding their new vehicle purchase.

Why are the jackets uncommon? Any number of reasons may apply. Maybe they were a high-wear item. Maybe the jacket was kept as a souvenir. Or maybe new owners simply did not fill out the customer survey.

In today’s world it makes finding an original jacket no easy task for the owner or enthusiast. -DB

SPP RE-RELEASES 2000-07 SALEEN FOCUS BODY KIT

From our friend Spring Hebler.

Saleen Performance Parts Re-releases the 2000-04 Saleen Focus Styling Kit

Breaking News!

Saleen Performance has just announced they are stocking the 2000-2007 Saleen Focus ground effects kits. These parts are available NOW!

Saleen offered their serialized N20 and S121 production cars in 2004 and 2005. These new styling kits are perfect for the restoration of your 2004-05 Saleen Focus or add the aggressive Saleen styling to your standard Ford Focus.

For details and cost information, please contact Spring Hebler at Saleen Performance via email, shebler@saleenperformance.com or call 800-888-8945 with your name and phone number.

You can also join Saleen Performance on Facebook: https://www.facebook.com/saleenspeedlab/

Be sure to mention you saw it on the Saleen Forums at soec.org!

Click here to participate in the discussion.

SALEEN S1 CUP SERIES IN DEVELOPMENT

By: JOHN DAGYS on October 27, 2018
Original Article: SPORTSCAR365.COM

SALEEN TO LAUNCH CUP SERIES WITH NEW S1; PLANNING GT4 CAR
Saleen to launch single-make series with new S1 next year; GT4 car planned for 2020

Pre-production Saleen S1. Photo: John Dagys
Pre-production Saleen S1. Photo: John Dagys

Saleen will make its racing return next year with the formation of single-make series with its new S1, ahead of a planned GT4 version of the sports car for 2020.

The California-based manufacturer has unveiled plans to launch Cup series in both North America and China with the 450-horsepower car beginning with the second half of next year.

Longtime FIA technical director Gabriele Cadringher, who most recently worked with Grand-Am and Lamborghini in technical capacities, has joined Saleen as its new director of motorsports.

A pre-production version of the road car is on display at this weekend’s California 8 Hours at WeatherTech Raceway Laguna Seca.

“The plan is to start a Cup series next year,” Cadringher told Sportscar365.

“We are discussing with PWC/Blancpain GT America with Greg [Gill] and Stephane [Ratel] to run with them in the second part of the year.”

Cadringher said the arrive-and-drive series will feature five events in 2019, with two 50-minute races on each weekend and up to two drivers per car.

It will also include a category for young drivers, with the class champion securing an all-paid for drive in the manufacturer’s GT4 car for the following season.

The U.S. series will run in parallel to a single-make cup in China, with discussions underway with series in the region, including the China GT Championship, for sanction agreements.

A total of 45 chassis for the Cup car are set to be produced, with at least 20 allocated for the North American market, which will be rolled out prior to the final production car.

“We will build our first Cup prototype in December and in the beginning of January we’ll finalize the spec after a couple of weeks on track,” Cadringher said.

“That will be our development car, which in the second part of the year, it will transform into the prototype of the GT4.”

Cadringher said the Saleen S1 GT4 car will be largely based off the Cup car, including the same 2.3-liter turbo engine from the production car.

Saleen has outlined plans to build 10,000 S1 road cars within the next five years, both at its facilities in Corona, Calif. and in China, at an estimated price tag of $100,000 each.

The GT4 car, meanwhile, is slated to launch in 2020.

“The Cup car will be a pre-series of the GT4,” Cadringher explained. “I’m speaking with Stephane and Claude Surmont [SRO technical director] about the details of the GT4 already.

“My plan is to come on the market with the GT4 car much cheaper than anyone else. I want to sell this car for $160-170,000, ready to be raced.”

Additional Racing Platforms in Pipeline

Cadringher indicated that additional motorsports plans are in the pipeline for the manufacturer, which is making its racing comeback for the first time since the Saleen S7R project in the 2000s.

The Italian hinted at a possible GT3 car in the future, potentially based off a yet-to-be-announced new Saleen road car.

Cadringher, however, has stressed that it will come step by step, with the focus being on the Cup series and GT4 car for the time being.

“Let’s do a Cup, let’s learn from the car and then do a GT4. Then we will see in the future,” he said.

“Steve is still a racing driver. He still races every single day in the office.

“I like that kind of approach because he has raced, the Mustang has raced and the S7 has raced. This new car, from the very beginning, was to race it.”

Photo: Brian Cleary/BCPix.com
Photo: Brian Cleary/BCPix.com

John Dagys is the founder and Editor-in-Chief of Sportscar365 as well as the recently launched e-racing365 Web site for electric racing. Dagys spent eight years as a motorsports correspondent for FOXSports.com/SPEED Channel, and contributes to other publications worldwide. Contact John

Twitter; Instagram; LinkedIn

[Source: sportscar 365]

SALEEN AUTOMOTIVE ANNOUNCES NEW SENIOR DIRECTOR OF SALES

SALEEN AUTOMOTIVE ANNOUNCES ADDITION
OF MIKE REY AS SENIOR DIRECTOR OF SALES & DEALER RELATIONS

CORONA, CA – Oct 12, 2018 – Saleen Automotive announced the addition of Mike Rey to their corporate staff. Rey will serve as Senior Director of Sales and Dealer Relations. Saleen is an American manufacturer of high-performance specialty sports cars based in Corona, CA.

“We are pleased to welcome Mike Rey to our staff. His passion and knowledge within the Mustang community are expected to be a tremendous resource to Saleen Automotive,” said Saleen CEO Steve Saleen.

Encouraged by his father, Rey’s passion for the Mustang began as a youth. He has 21 years of service and experience in numerous capacities for Ford Motor Company and Roush Performance. He is also an integral part of one of the largest Mustang clubs in the US, having served as its president since 2009. Rey has also been the recipient of the prestigious Lee Iacocca Award, which is given for “Dedication to Excellence in Perpetuating an American Automotive Tradition.”

Saleen President/COO Amy Boylan stated, “Mike Rey has a very impressive automotive background with great relationships; he will be a huge asset to Saleen Automotive.”

Saleen Automotive Inc., based in Corona, CA, offers three main product lines, which consist of Saleen Super Cars, Saleen Signature Series, and Saleen Performance Vehicles. All are design and engineered at Saleen Headquarters in Corona, CA.

Media contact:cbenty@saleen.com

[Source: Saleen Automotive]

SPP PRE-ORDER FOR 1999 THROUGH 2009 WHEELS

From our friend Spring Hebler.

Saleen Performance Parts to Reintroduce Wheels for 1999 through 2009 Saleen Mustangs

Breaking News!

Saleen Performance has just announced they are taking pre-orders for these long-obsolete and much-in-demand Saleen Mustang wheel sets for your 1999-04 and 2005-09 Mustang.

Whether it’s the 1999-04 5-spoke, 18″x9″/10″ wheels, or the 2005-09 7-spoke “Wagon Wheel” style, 20″x9″/10″ wheels, pre-order yours today!

Pre-orders must be prepaid, with a production forecast of 5-6 months. Sold in full sets only. Available in standard silver metallic or chrome.

For details and to provide payment information, please contact Spring Hebler at Saleen Performance via email, shebler@saleenperformance.com or call 800-888-8945 with your name, phone number and desired vehicle fitment.

You can also join Spring’s list on Facebook: https://www.facebook.com/spring.c.hebler

Be sure to mention you saw it on the Saleen Forums at soec.org!

Remember, you must pre-order and pre-pay to help make this happen and to guarantee you get your wheels!

Click here to participate in the discussion.

RESTORATION COMPLETE: SALEEN S7 03-031R

By: FLORENT MOULIN

We are very proud to present a selection of pictures of the Saleen S7R GT1 chassis 031R after its in-house restoration by Art & Revs. It was a real joy and moment of pride to put the car in our studio after working so hard for such a result.

The great 031R was ordered together with 029R in late 2003 by ACEMCO, an important US company in the motor car industry in the US. The aim was to compete at the highest level in ALMS and Le Mans, notably against the factory Corvettes ran by Pratt & Miller. ACEMCO had by this time built up a fantastic racing team around Ron Mack and Jim Bell.

This legendary car raced in the 2005 ALMS including an 8th overall finish at Sebring 12 Hours and it finished second in the Championship. The pinnacle of its history came certainly in 2006 when it raced at Le Mans 24 hours, finishing an impressive 11th place overall, making 031R the first Saleen to ever finish the world’s most prestigious endurance race. This important result bears testimony to the car’s performance and reliability.

The car was not used in 2007 and 2008, and was sold to Europe in 2009 to be raced in the FIA GT Championship with K Plus K, driven by Karl Wendlinger and Ryan Sharp, notably winning Silverstone’s Tourist Trophy among other motorsport firsts. Back then the competition between Maserati, Aston Martin, Ferrari and Saleen was at its height.

Very few know the S7R’s history and that the first series of S7Rs were actually engineered and built at RML in UK. However the « Evo » version was totally re-engineered by Saleen in their all new factory at Irvine in California, this is where they also built the 4,000 Ford GTs on behalf of Ford. 029R & 031R were the first Evo cars built and accordingly benefited from all new chassis, suspension, gearbox and aero. The Saleen S7 7.0 liter engines were in fact built from Ford`s 5.0 liter « small » block and reliability has always been a real issue. It has to be said that the engines built at Roush-Yates have always been disappointing and notably deprived most of the S7Rs from finishing Le Mans.

In the first stages of their Saleen project, ACEMCO being generously funded, contracted Panoz ( Elan Technologies ) to build up a 7.0 liter version of their largely proven LMP900 engine, originally a 6.0 liter. The Elan 7.0 liter was a total success and ACEMCO would never retire because of an engine failure. In unrestricted specifications, 031R’s engine recently shown 728 HP on the dyno at Elan after its rebuild. Only the two original ACEMCO cars would actually be equipped with the fantastic Elan engine and four units were built.

031R was completely stripped down to its bare components by Art & Revs and meticulously restored and reassembled by our highly skilled staff, most of whom have a large experience in Formula 1 or Endurance.All of the car’s components were reconditioned or replaced in close collaboration with the original suppliers wherever possible, just like the engine which was rebuilt at Elan. For safety purposes, the major components were crack tested.

This highly iconic silver S7R is now ready for new adventures on the historic racing scene and more widely in the classic car world. This is a great part of the Saleen S7R legend, the first all-American supercar to ever compete at Le Mans and in major international championships.

Click here to participate in the discussion.

[Source: Art & Revs]

MUSTANG WEEK 2018

PHOTOS: ANGEL MUNIZ

Mustang Week 2018
Mustang Week 2018

[Source: Angel Muniz]

SALEEN CELEBRATES 35 YEARS AS AN AUTOMOTIVE BRAND

Saleen Automotive Unveils 35th Anniversary Edition Saleen Mustang

CORONA, CA – September 19, 2018 – Steve Saleen, CEO of Saleen Automotive, Inc. announces the 35th Anniversary Edition Mustang, the “SA 35”. These 2019 Black Label anniversary editions celebrate Steve Saleen and Saleen Automotive’s 35 years of delivering legendary Saleen vehicles. This achievement represents one of the longest continuous American name plates in automotive history.

2019 SA-35 Mustang
2019 SA-35 Mustang

Saleen Automotive Inc. celebrates every five years with a special limited anniversary model using the Saleen Racing Heritage colors of black, white and yellow. There are only 10 Limited Editions produced and the prototype was unveiled at our Open House on September 15th at Saleen’s Headquarters in Southern California.

“We were extremely proud to introduce the SA 35 to our friends, family and enthusiasts. It celebrates and validates the continuing success and longevity of the Saleen Brand”, said Steve Saleen, CEO Saleen Automotive. The SA 35 includes the Saleen trademark custom yellow, black and white Saleen graphics, and is equipped with a Saleen supercharger, producing 780HP and 630 ft. lbs. of torque. Saleen iconic Racecraft R Code suspension, mono-block forged Saleen designed aluminum wheels, General G-Max tires, special 35th Anniversary fenders, Saleen Black Label hood, aerodynamics with retro styling, Saleen exhaust system, Saleen wing and custom SA 35 interior with special badging are among the extensive standard features.

MORE
Additional information at www.saleen.com

Media contact:
pr@saleen.com
714.400.2121

Saleen Automotive, Inc.
2735 Wardlow Road
Corona, CA 92882

Click here to participate in the discussion

[Source: Saleen Automotive]