REPORT: Penske to complete Saturn deal by September
Penske Automotive Group may have reached a tentative deal go acquire the Saturn brand from General Motors back in June, but the negotiations may take until the end of September to be finalized. PAG founder Roger Penske mentioned on a conference call that the deal had to take a back seat to GM's bankruptcy proceedings, but with chapter 11 out of the way, talks will likely pick back up.
Penske is looking to focus the Saturn brand on North America, with most attention on the US market. Penske further insists that the 350 Saturn dealerships will remain independently owned, saying "Saturn has a world-class dealership network and we hope that most of them will join the new company."
Part of the tentative deal between Penske and GM includes the General continuing to make Aura, Outlook and Vue models until at least 2011. Penske Automotive would also own the rights to service Saturn vehicles and will buy all existing replacement parts to service the 3.5 million Saturn vehicles still on the road.
[Source: Reuters]
Reader Comments (Page 1 of 1)
Avinash machado 10:06AM (7/31/2009)
Nice to know that the Saturn brand will live on.
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VW GTi 10:07AM (7/31/2009)
Interesting, but where will their products come from after 2011. I doubt they have a design team and a production plant. Or even their own engineers. We will just have to see how this turns out.
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The Other Bob 10:59AM (7/31/2009)
The original Saturn was designed by a team of engineers in a converted building in Madison Heights Michigan. It's possible he could create an engineering team.
Avinash machado 10:10AM (7/31/2009)
I think they will be sourcing their products from Renault-Samsung of Korea.
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Bloke 12:05PM (7/31/2009)
This was also my understanding that Renault Samsung Motors products would be imported as Saturns, given his previous business dealings with RSM and SMI. Penske apparently met with with Carlos Ghosn in Paris in May to discuss the plan.
DiRF 12:07PM (7/31/2009)
Yeah, that seems to be the most prevalent rumor... I even did some [lousy] altered images of some of Renault-Samsung's lineup to see what future Saturns may look like...
http://img33.imageshack.us/img33/595/possiblefuturesaturn1.jpg
http://img33.imageshack.us/img33/4991/possiblefuturesaturn2.jpg
http://img33.imageshack.us/img33/2972/possiblefuturesaturn3.jpg
audi_arena 10:22AM (7/31/2009)
Unbelievable that this guy started by washing cars for the local dealership. Talk about a testament to the american dream!
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Toy Yoda 10:48AM (7/31/2009)
Really? Wow.
the4thheat 10:33AM (7/31/2009)
I am pretty curious what 2012 will bring then. A rebadged Roewe 550 refresh? Hmm...
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FThorn 10:43AM (7/31/2009)
I just can't fathom how RP will make this work.
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FThorn 10:45AM (7/31/2009)
Almost makes me think there are some closed-door negotiations.
Roger, if you buy Saturn for $xxx, we'll try our darnedest to buy it back for twice that in 4 years. Okay?
ufgrat 1:13PM (7/31/2009)
On the other hand, Roger Penske has shown that he doesn't do anything on a whim, and I'm fairly sure most of his projects have been profitable.
In short, he's no dummy, so he must have a plan. Personally, I hope it involves trying to resurrect some of what made Saturn "A different kind of company" in the nineties.
And a design team. With their own factory. ;)
FThorn 2:55PM (7/31/2009)
How, then do you explain the Penske Service Centers?
misterdbarton 11:38AM (7/31/2009)
I wonder if this will lead to Penske switching his teams over to Saturn branding in the motorsports he's in? Why race Dodges when you OWN Saturn?
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JRM 4:41PM (7/31/2009)
That's probably what's going to happen. They had the same idea when Kevin Kalkhoven proceeded to buy the cosworth "indy" engines: an in-house spec engine supplier.
I'm 99.99999% sure that when the IRL's new engine formula gets finalized, Roger Penske will jump in as a supplier with Saturn-badged (perhaps renault made) engines.
JMF 2:23PM (7/31/2009)
They talk about Penske and Saturn operations in North America but I have seen nothing in writing specifically about Saturn Canada.
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susan.cai1987 2:52PM (7/31/2009)
I agree with the misterdbarton's opinion,waiting for Penske's more photos in motorsports,thanks!At the same time,Enjoin to my Ugg Boots Classic Mini
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Alpha 6:50PM (7/31/2009)
So really what we'll have is the same cars Nissan brings here now with a different badge and slightly different bodys? Just like in Europe?
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cxvargas 8:50PM (7/31/2009)
I would like to see the Samsung version of the Laguna wagon here in the US.
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tysonah 11:53AM (8/23/2009)
I did the research on the 2009 and found that it could tow 5,200 lbs and was annoyed that I could not order the car I wanted, and I did not want a black car, but the only car with the stuff I wanted was black! So I bought it anyway to take advantage of the cash for clunkers.
Being a retired woman, I did not want two sunroofs, or dvd players in the back seats. I just wanted the back up system, adjustable seat, remote start and 8 seats. I loved the cocoa color but it didn't have what I wanted, and had what I didn't want.
I went to the Dealer in Orlando and was not offered anything to drink, I bought my own soda while negotiating. I felt like I was doing them a favor and I would have walked out if I did not want to buy a car before the clunkers deal ran out. I did not know they would extend the cash for clunkers deal or I would have walked.
I found that Saturn dealers do not deal with each other. If the dealer did not have the car I wanted, I was pressured to buy only what they had on hand. No one offered to get the car I wanted from another dealer. I had to search for the car I wanted through various dealers on line, then call to see if it was really there and and then do all my own pricing on line to make sure I was paying what I should be paying.
They reluctantly gave me the mats for the car, which I thought was tacky that they would not come automatically. I guess since I have not bought a new car for 35 years I had a lot to learn.
What I found surprising is that due to the technology being so involved, I could not add on features after purchase through Saturn. I know I can go and have stuff put on elsewhere, but I was hoping to have saturn dealer do it. Their loss.
I do love the car, it has more room than my Ford explorer had and handles alot better. I love my back up camera, as I hitch my horse trailer alot and this saves alot of time.
I would suggest that the customer get treated a little warmer, since I am spending $30,000 could you at least buy me a drink? I also had to argue with the salesman that it could tow 5,000 lbs. he was not up to date on the newer towing limits. Had I believed him that it could only tow 4,500 I might have gone back and bought another ford. It was sad I knew more about the 2009 Saturn Outlook then the salesman.
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