AP Sources: GM to sell Saturn brand to Penske

And the continuation of a losing company still thrives within our economy, go figure.





AP Sources: GM to sell Saturn brand to Penske
AP

DETROIT – General Motors Corp. has a tentative deal to sell its Saturn brand to former race car driver and dealership group owner Roger Penske, according to two people briefed on the deal.

GM has scheduled a conference call for 9 a.m. EDT Friday to discuss the sale, and Penske will be on the call along with Saturn General Manager Jill Lajdziak, said the people, who asked not to be identified because the deal has not been made public.

Penske would get Saturn's dealership network, which consistently has scored highly in customer satisfaction surveys.

Penske has said his company, Penske Automotive Group Inc. of Bloomfield Hills, Mich., is interested in the Saturn brand and intended to make an offer.

Penske Automotive Group also distributes Daimler AG's Smart subcompacts in the U.S., but Smart has its own dealership network and Saturn dealers would not distribute the tiny cars, one of the people said.

Initially GM would continue to make cars for Saturn, but Penske would also sign deals with other automakers to manufacture vehicles for the brand, said both people, who asked not to be identified because the plans have not been made public.

Penske Automotive owns the second-largest U.S. automobile retail chain in terms of sales. It also owns heavy-duty engine manufacturer Detroit Diesel and has race teams in the IndyCar, NASCAR and Grand-Am series.

"Saturn, obviously, is one of the divisions which General Motors is either going to sell or close down and we have a distribution experience bringing the Smart Car into the United States," he said in a May interview with The Associated Press.

 

Have you ever met anyone who has bragged about owning a Saturn?

 

Penske has lost his mind. His dealerships are all hurting and he invests capital with Saturn? For the sake of PAG stockholders, I hope Government Motors cut him one helluva deal with a lot of guarantees.

 

he is a sly old fox. here is the key part:
"Initially GM would continue to make cars for Saturn, but Penske would also sign deals with other automakers to manufacture vehicles for the brand,"
think china. get the chinese to manufacture a cheap line of cars and then brand it saturn and distribute it through his dealerships.

 

I have owned 2.
Bought a NEW 92 SL2 (second year for company),
and Leased 2006 VUE.
Only complaint was that parts were hard to find for the first one.
Had to go to the dealer instead of Autozone.
Pricing and Dealer service was always great.

 

Bingo. Penske is a winner. GM may come to regret this deal.

 

So GM doesn't want Magna to sell Opel here but they'd allow Chinese???

They'd be really morons to do that!

 

You obviously know NOTHING about the Saturn brand, or Roger Penske for that matter.

I wish that ET wouldn't allow kids to use ET as their internet "playground".