Wally
SuperDork
5/5/09 9:51 a.m.
http://www.foxnews.com/story/0,2933,518944,00.html
Roger Penske, owner of the second-largest U.S. auto retail chain by revenue, has emerged as a potential buyer for General Motors Corp.'s Saturn brand, people familiar with the situation said.
Mr. Penske is chief executive of Bloomfield Hills, Mich.-based Penske Automotive Group, which operates 300 dealerships in the U.S., U.K. and Germany. It is second in revenue in the U.S. to AutoNation Inc. A Penske spokesman declined to comment.
GM on Monday said it hired Stephen Girsky, a former Morgan Stanley analyst and one-time adviser to departed Chief Executive Rick Wagoner, to review offers from potential buyers.
The auto maker, which has said it will abandon Pontiac, is working to sell Saturn, along with its Hummer and Saab brands, while surviving on federal loans.
It has until June 1 to convince the Obama administration it can survive without seeking bankruptcy protection under a Chapter 11 filing.
maybe GM will toss in the arrowhead as a "but wait, if you order in the next 30 minutes...cuz you know we cant do this all day..."
lets hope
that would be nice, I would buy from Penske Motor Group...
this could be interesting,
Keep the Sky! Keep the Sky!
Call now and we will throw in a Billy Mays beard!
John Brown wrote:
Call now and we will throw in a Billy Mays beard!
Now Eastcoastmojo is going to throw a fit
So, Saturn to NASCAR? heh.
ddavidv
SuperDork
5/5/09 11:58 a.m.
This makes zero sense. How is Penske going to build cars and compete against all the rest? How many actual Saturn models are built in the Tennessee plant?
Lastly, who even cares? Saturn has ceased to be anything but a rebadging brand since they quit making the SL/SC.
But, if Saturn goes away, who's going to use all that motor oil?
VW 2.0Ts are soaking up that market.
Kramer
Reader
5/5/09 1:14 p.m.
Roger buying this would be the best thing to ever happen to Saturn. But after he sells Saturn, it will go to hell in a handbasket. Reference Detroit Diesel.
I see Saturn selling and servicing cars from all makes, from many different countries (including China). Does your company make a great car, but you can't afford the dealer network? (Fisker, Koenisegg*, Chery). Badge the car as a Saturn and sell a million of them, or however many the market will bear. When the demand wears off, Saturn will find another manufacturer.
*yeah, right.
Maybe he could combine Saturn and Smart and call it the new Snot.