Saleen Automotive is Almost Out of Cash

By Detroit Steel

If you were considering purchasing that hot new 2015 Saleen 302 Black Label Mustang, you might want to read this first.

The company, known for putting out some pretty impressive mods on the pony car over the years, looks like it might be running out of steam.

Saleen Automotive is getting sued by its bank, owes its law firm money, and has been forced to pay contractors in company stock, according to a Jalopnik report.

Even more telling is that with its current liabilities listed at about $5.6 million, the performance company reportedly only has $7,261 in cash left after beginning July, 2014 with roughly $1.5 million.

Saleen’s total current assets come to $668,629 and the company is now in search of a buyer that can hopefully steer it out of this mess.

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