Ford Dealers Are Suing Saleen For Breach Of Contract
A pair of Ford dealerships are taking Saleen Automotive to court for alleged fraud and breach of contract over allegations that the tuning company failed to honor its end of purchase orders involving specially tuned Mustangs.
One of these dealers, the Red McCombs Ford dealership in San Antonio, is asserting that Saleen was six months late in delivering three modified Mustangs that the dealership ordered. On top of that, the dealer’s lawsuit also claims that the tuned Mustangs were missing a total of $22,000 in upgrades and that it hasn’t received a dime in refunds over the missing items.
If that issue isn’t enough of a headache for Saleen, another Ford dealership, the Friendship Ford of Bristol in Tennessee, is also taking the tuner to court over allegations that it has yet to receive a 2015 S302 Yellow Label Mustang, which it ordered and paid for back in 2015. Denny Fruth, the dealer’s general manager, told Automotive News that the 715-horsepower Mustang has not found its way back to his dealership despite numerous delays and claims by Saleen that the car was already on its way. The most recent of these promises happened in the early part of June 2016, and more than a month later, Fruth claims that the car is still nowhere to be found, adding that Saleen has come up with multiple excuses, including blaming a vendor for one of the delays.
Not surprisingly, company founder Steve Saleen is refuting the claims made by the dealerships, going so far as to call the Red Combs’ dealership’s gripe a “a little frivolous” and that their experiences aren’t representative of the many projects that the tuner has delivered across the U.S.
Continue after the jump to read the full story.
In 2015, the Ford Mustang celebrated 50 years on this planet, so what better way to celebrate it than with a new-generation model. With the 2015 Ford Mustang came a new look, a new independent rear suspension, and a new 2.3-liter turbocharged four-cylinder engine. Since 1984, Saleen and Ford have worked together to build even faster Mustangs. For the 2015 model year, Saleen has revealed the new S302 Black Label Mustang that gives the `Stang a much-needed competitor to the mighty Challenger Hellcat.
With over 700 horsepower at its disposal and a retuned suspension system, the Saleen S302 Black Label is certainly a 2015 Challenger Hellcat slayer on paper. On top of its power, it also comes with a factory-backed warranty, giving buyers the same peace of mind that comes with the Hellcat. However, with the rocky financial condition of Saleen, is it safe to invest over $70k on this performance rig?
Continue reading to learn more about the 2015 Saleen S302 Black Label.
The aftermarket tuner Saleen has found itself in rather dire financial straits. The company’s recent filings with the Securities and Exchange Commission show the company is hemorrhaging money faster than Donald Trump could make it. The official 10-Q Form shows the company only has $7,261 cash on hand.
And that’s not even the worst of it. The company has $5.6 million in liabilities it owes. It’s getting sued by a bank for non-payment of loans, it owes some $95,600 in legal fees, and it has $583,900 in unpaid payroll taxes. All of Saleen’s assets only total $668,629.
The numbers only continue to get worse. Year-over-year revenue is down by nearly half, between July and September 2014 – a three-month period – the company lost more than $2 million and its cash on hand dropped from $1.5 million to the measly $7,261 reported above.
Sadly, it’s hard to say that money went to worthwhile causes. Research and development costs – usually some of the largest expenditures for a car company – are only listed at $250,130 while some $443,767 was spent on sales and marketing costs such as auto shows and photography. Keep in mind Saleen’s current R&D includes juicing up the new 2015 Ford Mustang and the Tesla Model S; two projects that would likely be expensive.
While it’s tough to speculate, it seems the only real saving grace would be a car-loving benefactor who could swoop in, knock out debt and give sound business advice. Someone call Marcus Lemonis of The Profit.
Click past the jump to read more about Saleen’s latest problems.
Steve Saleen has made good use of his time since regaining his namesake brand in 2012. The timing couldn’t have been any more ideal too, because a little over a year after returning to Saleen, the all-new Ford Mustang made its debut. Yep, sometimes, timing is everything. The aftermarket company known for building sick, specialized Mustangs has prepared its first interpretation of the new Ford muscle car. It’s predictably called the 2015 Saleen 302 Mustang and, like its predecessors, it’s sure to have all of the familiar high-performance modifications that Saleen has come to be known for.
A heavily revised front fascia, an updated, sportier interior and an extra punch coming from the Blue Oval’s range-topping, Coyote V-8 engine, that’s the least we can expect from the brand-new Saleen 302.
Updated 09/23/2014: Saleen unveiled a new image and the full list of specs for its 2015 302 Mustang. Also, the company announced that it now accepts reservations for the car, so if you’re interested you have to place a $2,015.00 deposit to reserve the car. Details after the jump.
Click past the jump to read more about the 2015 Saleen 302 Mustang.
When Saleen promised a major reveal this weekend at Laguna Seca, speculation ran rampant that a successor to the mighty S7 was waiting to be introduced.
Well, we didn’t get that, which is a tad disappointing, but what we did get was an equally surprising announcement in the form of the Saleen Heritage Collection, a limited edition series of specially designed muscle cars that pays tribute to the top five drivers that raced in the Mission Bell race at Riverside International Raceway back in October 1970.
The first two vehicles of this Heritage collection were actually released a few years ago - the Saleen Parnelli Jones Ediiton and the Dan Gurney Edition - and now, the next three will be dropped in succeeding order beginning with the unveiling of the Saleen George Follmer Edition Mustang, followed by the Mark Donohue Edition Camaro, and the Swede Savage Edition Barracuda.
The latter two will be unveiled at later dates so for now, the spotlight focuses on the George Follmer Edition Mustang, a car that Saleen introduced over the weekend at Laguna Seca.
If you’re not too familiar with the name George Follmer, a brief history lesson will tell you that the man is notable for having one of the most decorated racing careers back in the 60’s and 70’s. In addition to running the Indianapolis 500, Follmer also competed in Formula One with the Shadow team in 1973, while also racing in NASCAR’s Winston Cup and the Can-Am series where he took the championship in 1972.
Click past the jump to read more about the Saleen George Follmer Edition Mustang
Every year, Saleen heads over to Las Vegas to bring a new custom modded Mustang to the SEMA Auto Show. A few years ago, they bought the S281 Mustang. Last year, it was a custom S302 Mustang with custom colors and plenty of carbon fiber. This year, Saleen has prepared a custom 302 Speedster for the biggest aftermarket auto show in the world, marking the first time the 302 Speedster was accessorized with a number of options.
This particular model was definitely dressed to impress, thanks to a new Matte Black paint finish, complimented by the prevalent use of carbon fiber rocker panels. The subtle look of the S302 Speedster can be substituted for something a little more gregarious if customers feel like it. In place of the Matte Black finish, other can choose from Igniter Orange, Octane Red, Silver Shield, and Motor City Blue. Rounding out the modifications done on the S302 Speedster include a new carbon fiber chin splitter, a carbon fiber rear wing, and a new set of 7-spoke wheels.
We love ourselves some Ford Mustangs, especially if they come in a special edition trim. While a lot of people can scoop up a Mustang if they so please, it says something if you’re driving on the road with a piece of special edition American Ford muscle.
Now, you’ll still get your fair share of choices with some being more readily available than others. But if you’re looking for the newest special edition Mustang off the block, you might want to give the boys over at SMS Supercars.
SMS Supercars is the baby of one Steve Saleen. Yeah, you might remember him for his past forays as the founder of Saleen Inc, the very same company that built one of the fastest American supercars on the planet, the S7.
Recently, Saleen and his crew over at SMS have turned their attention towards special edition Mustangs, specifically three new editions of the just launched Mustang Boss 302: the White Label, the Yellow Label, and the Black Label.
Whereas the White Label is the entry-level version and the Black Label is the top-of-the-line version, the Yellow Label slots right in the middle. It comes with the same specs as that of the White Label, including a reprogrammed PCM, a new sport suspension system, a new exhaust system, a new body kit, and some interior upgrades. More than these add-ons, the Yellow Label also comes with a new SMS supercharger kit that bumps up the engine’s output from 440 horsepower to 545 horsepower. On top of that, SMS also dressed up this version with a set of 19” wheels, giving it a sportier and more aggressive look to complement its muscularity.
Interested in the Mustang SMS 302 Yellow Label? Well, you better be prepared to shell out $45,540 for the chance to go home with one.
Photo is of the Mustang SMS 302
When talking about customized Ford Mustangs, you can name five of the best the business has to offer in a heartbeat and chances are, one of those names would be SMS Supercars.
Founded by the legendary Steve Saleen, the same man that founded Saleen Inc. that gave way to the Saleen S7 supercar, SMS Supercars is considered as a go-to-shop for Mustangs of varying versions, including the Mustang Boss 302.
Recently, SMS proudly unveiled three new editions of the Boss 302: the White Label, the Yellow Label, and the Black Label.
The top-end of the three versions is the Black Label, which bears some similarities to the Saleen S281E of the past. This particular version features more advanced aerodynamic body components than the White and Yellow Label editions, including the company’s very own S4 suspension system, a custom SMS leather interior and an engine modification that took the Mustang Boss 302’s 5.0-liter V8 engine from a standard output of 440 horsepower all the way up to 575 ponies.
And as is the case with most of his models, the SMS Mustang 302 Black Label will be available in a number of unique custom paint colors that only SMS Supercars can provide. According to SMS, the car retails for $48,000 for the naturally aspirated model of the car and $58,000 for the supercharged version.
Bad news for all Saleen fans out there! Revstone Industries, the company that builds models for Saleen, has announced that by the end of 2011 they will no longer produce vehicles for Saleen. The main reason for their decision is "the confusion and controversy with Steve Saleen’s company, SMS Supercars."
In an official letter sent to dealers, Saleen said: "Over the past several years, we have witnessed a lot of confusion around the Saleen brand, due to a number of financial ups and downs and accompanying changes in ownership. The name itself has become the center of countless conversations and debates, detracting from the cars themselves, and from the culture of performance that they both embody and serve."
"Through our conversations with Ford Motor Company and one another, we have come to feel that those things have become overshadowed by questions surrounding the name. So we want to wipe the slate clean, and usher in a new era of American Muscle. We are confident that, in time, you will agree this was the right decision."
Plan to see the same type of American muscle, but under a different brand that has yet to be determined.
Saleen will unveil their first vehicle developed this year - the S302 - this week-end at the Carlisle Ford Nationals in Carlisle, PA. The new Saleen S302 is based on the 2011 Ford Mustang 5.0 and will be available in both coupe and convertible body styles.
The S302 will feature an imposing grille and front fascia, and a refined treatment of the familiar Saleen extended rear fascia and trunk lid with a simple, elegant, integrated wing. The interior will get leather sport seats with Ultrasuede inserts and unique treatments of the gauges, steering wheel, center console and shifter.
The V8 engine has been tweaked to deliver 425 hp and 395 lb.-ft. of torque. The whole package is finished by 20-inch, 7-spoke alloy wheels.
Press release after the jump.
After unveiling the S281 Coupe at the 2009 SEMA Show, Saleen has announced that a convertible version will be revealed this coming Sunday at the 25th Annual Fabulous Fords Forever!, hosted at Knott’s Berry Farm in Buena Park, California.
The black S281 production convertible will be making its debut accompanied by a silver coupe and the powerful Saleen 435S. The Fabulous Fords show is one of the premier Ford events in the country and Saleen Performance Vehicles continues its tradition of interacting with the thousands of Ford enthusiasts who attend each year.
The S281 will be powered by a 4.6-liter V8 engine producing 485 hp and 460 lb.-ft. of torque, connected to the rear wheels via a short-throw, five-speed manual transmission and a limited-slip differential with 3.73:1 final drive ratio.
Any Mustang lover will thoroughly enjoy this extravagant display of polished up ponies. If you are in the area or can get to the area, we would highly recommend attending this show. We hear there are about 2,000 entries expected to attend this event and will be sectioned off by generations as in the previous years. Last year, Shelby fans were thrilled to discover almost every Shelby model was in attendance. We could only imagine that this year will deliver the same excitement.
More details this Sunday, stay tuned!
The American tuning house known for pumping out high performance Fords has just unveiled the new Saleen 435S, based on the new 2010 Ford Mustang, it will be the first vehicle launched under the aftermarket automaker’s new ownership.
The Saleen 435S rides 1.5 inches lower to the ground than a stock Mustang GT and is powered by the same 4.6 Liter, 3 valve, SOHC V8 engine, with the addition of a Saleen Series VI twin screw supercharger and two stage intercooler to bring the intake charge down to a manageable temperature. The blower brings the car’s total output up to 435 HP and 425 lb-ft of torque.
The exterior of the Saleen benefits from an understated blacked out trim panel between the taillights with “Saleen” written in raised lettering, a mesh cover for the fog lights in the grill and graphic elements placed low on each side of the vehicle. Saleen is offering the 435S with a set of 18 inch 5 spoke alloy wheels with 19 and 20 inch rims available as an option. Finishing off the Saleen Mustang transformation are the “435S” lettered on each side of the hood of the pony car’s power dome.
Press release after the jump.
Steve Saleen can never keep his hands off of Mustangs, so its no surprise that he’s already announced plans for the 2010 Mustang.
Then again, the engine modifications won’t be too hard because the mechanical bits of the new Mustang are just a carryover from the previous model. So the 4.6-liter V8 SMS has been working on may have already been in development for quite some time by now. The 2010 Signature Series SMS 460 Mustang will make between 475 to over 650 hp and go on sale in the second quarter of 2009.
The biggest changes to watch out for on SMS car will be how they will handle aerodynamic upgrades to the 2010 ’Stang’s body.
Press release after the jump.
Saleen’s SpeedLab unveiled today the SuperShaker, a new technology for air induction systems. The SuperShaker will fit all 2005-current model Mustang GT’s. The SuperShaker kit will increase your total power from 500 – 700HP.
The SuperShaker induction path is much shorter and less restrictive compared to existing designs, and is a true “cold air” intake that is sealed off from the engine compartment, thus enhancing vehicle performance. The SuperShaker induction system sits above the hood and is isolated from the hot air in the engine compartment. This is especially beneficial in static situations such as at stop lights or take off during drag racing. Once up to speed, the shaker hood scoop rams fresh cold air into the air box where it is pressurized, allowing greater boost at higher speeds.
By angling the custom air filter forward, water and debris will be deflected down to the bottom of the air box where it can be evacuated and not affect the performance of the filter. There are two molded pieces that make up and include the air box, providing a skirt that mounts to the rear of the box which protects the compartment from water, debris and environmental hazards. This unique design does not require any extraordinary mounting or securing devices, allowing the air box to utilize the maximum space available within the tight constraints.
SMS is Steve Saleen’s new company. And their first models are SMS 570TM Challenger and SMS 570XTM Challenger. Both will be built in limited edition, depending on the model and the opportunity to be one of the few owners is limited to a first-come, first-served basis.
The fully certified and street legal SMS 570TM Challenger and SMS 570XTM Challenger will be based on the all-new and exciting 2009 Dodge Challenger R/T platform and will feature a SMS Supercharged 5.7L Hemi with respective power ratings from 500 to over 700 horsepower! Both models are fully equipped with a compliment of SMS ultra-high performance components including: drivetrain, suspension, aerodynamics, tires, wheels and interior.
Each of these limited edition vehicles will be personally signed by Steve Saleen as part of the SMS Signature Series product line complete with unique badges and graphics.
Saleen unveiled at the New York Auto Show the Gurney Signature Edition Mustang, a model created in cooperation with American automotive legend Dan Gurney. The special edition will be limited to 300 units.
The Gurney Signature Edition Mustang will feature Saleen’s 465 Hp supercharged 281 cubic inch engine, short throw shifter, and 3.73 Max Grip rear axle. In addition, the vehicles will have custom two-tone seats that feature either blue or red AlcantaraTM inserts designed to keep your rear end planted firmly behind the wheel. The legendary Gurney Eagle logo is featured on the steering wheel and several other places around the car.
The exterior reflects the look of Dan’s 1969 Trans Am series Mustang, masterfully recreated in a fashion that honors history but looks aggressively towards the future. The heritage styled Gurney Edition body kit, ’duck bill’ rear spoiler and ’stinger’ style hood all come together in harmony with the carefully placed graphics and die cut Gurney Eagle insignia.
In the colors of Gulf Wyer, the Ford GT40 conquered Le Mans. It became such an icon that Ford came out with an updated version a few years ago, simply called the Ford GT (a name chosen by necessity, as Ford had unaccountably let the GT40 name slip away and someone else now owns it).
Now Saleen is trying to get in on the act with the Saleen 550.
Basically, it’s a paint job.
They’ve painted a Mustang in the old Gulf colors. Otherwise, it’s hopped up Mustang GT 500, with output increased to (...)
With a show-stopping paint finish, a 550-horsepower supercharged V-8 and enough high-tech gadgets to make James Bond scratch his head, the Maaco Medusa is a Mustang unlike any other. Maaco built the custom show car, which features a dazzling, color-shifting paint scheme, to demonstrate the capability of Maaco’s nationwide network of franchised bodywork and paint outlets.
The 2009 Saleen Mustang will get additional power to match the horsepower increase that Ford plans to give the 2009 Mustang.
For the Mustang, 2009 will not only be a "facelift year", but also an year of power increased: 350 hp out of the V8 in the Mustang GT (50 hp more) and an additional 15 Horsepower out of the Shelby GT500 engine. And the "facelift" will improve the weight of both cars.
For 2009, Saleen will improve the power up to 385 hp for the S281 3 Valve with around 390 lb-ft of (...)