Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[REPORT: Penske to close all Canadian Saturn dealers]]>http://www.autoblog.com/2009/08/31/report-penske-to-close-all-canadian-saturn-dealers/http://www.autoblog.com/2009/08/31/report-penske-to-close-all-canadian-saturn-dealers/http://www.autoblog.com/2009/08/31/report-penske-to-close-all-canadian-saturn-dealers/#commentsFiled under: , ,



Roger Penske's purchase of the Saturn nameplate and sales organization from General Motors is intended to make money, and the business case for keeping Canadian dealers is apparently poor. Half of Saturn Canada's 60 dealers had already decided to give up, while the remaining 30 stores were willing to try and keep going. Penske's decision to discontinue sales of the brand in Canada altogether will directly impact 2,000 people.

"Saturn has a passionate customer base and outstanding dealer network," Penske said upon the announcement of his purchase in June. "We want to build onto those strengths," he continued, and the Canadian operation must be more albatross than mint in the scheme of things. Tip of the chapeau to Luc and Pat.

[Source: Radio-Canada (in French)]

REPORT: Penske to close all Canadian Saturn dealers originally appeared on Autoblog on Mon, 31 Aug 2009 08:58:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>penske canadapenske exitpenske exit canadapenske saturnpenske saturn canadapenske saturn canada exitPenskeCanadaPenskeExitPenskeExitCanadaPenskeSaturnPenskeSaturnCanadaPenskeSaturnCanadaExitsaturn canadasaturn canada closesaturn penskeSaturnCanadaSaturnCanadaCloseSaturnPenskeMon, 31 Aug 2009 08:58:00 EST http://www.autoblog.com/feed/19144667/article-comments.xml http://www.autoblog.com/feed/2009/08/31/report-penske-to-close-all-canadian-saturn-dealers/19144667/article-detail.xml 19144667 http://www.blogcdn.com/www.autoblog.com/media/2009/08/sat_can_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2009/08/sat_can.jpg <![CDATA[Confirmed: GM and Penske outline deal for Saturn - Aura, Vue, Outlook to live on]]>http://www.autoblog.com/2009/06/05/confirmed-gm-and-penske-outline-proposed-deal-for-saturn-aura/http://www.autoblog.com/2009/06/05/confirmed-gm-and-penske-outline-proposed-deal-for-saturn-aura/http://www.autoblog.com/2009/06/05/confirmed-gm-and-penske-outline-proposed-deal-for-saturn-aura/#commentsFiled under: , ,



Confirming a report we posted on earlier today, General Motors has reached a preliminary agreement to handover the Saturn marque to the Penske Automotive Group. In GM's official statement after the jump, the automaker says that the memorandum of understanding would entitle Penske to the brand's 350+ dealerships, the rights to the name and its associated iconography, as well as continued production of the Aura, Vue, and Outlook on a contract basis. As expected, the dormant Astra hatchback and the rakish Sky roadster will apparently not make the transition. No financial terms of the deal have been released.

As reported earlier today by The New York Times, that abbreviated Saturn lineup will likely be joined by vehicles procured from other overseas automakers, potentially Renault's Samsung Motors division in Korea. It is not immediately clear if Penske will use the opportunity to pair existing Saturn stores with the company's other automotive distribution channel, Smart.

According to GM, the agreement is expected to be consummated in the third quarter of this year, pending the necessary paperwork shuffling between the two companies and the federal government. Check out the official press release after the jump

[Source: General Motors]

Continue reading Confirmed: GM and Penske outline deal for Saturn - Aura, Vue, Outlook to live on

Confirmed: GM and Penske outline deal for Saturn - Aura, Vue, Outlook to live on originally appeared on Autoblog on Fri, 05 Jun 2009 13:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Auragm saturn penskeGmSaturnPenskePenskePenske Automotive Grouppenske saturnPenskeAutomotiveGroupPenskeSaturnSaturnSaturn AstraSaturn AuraSaturn Outlooksaturn penskeSaturn SkySaturn VueSaturnAstraSaturnAuraSaturnOutlookSaturnPenskeSaturnSkySaturnVueSmart carsmart fortwoSmartCarSmartFortwoVueFri, 05 Jun 2009 13:29:00 EST http://www.autoblog.com/feed/19058879/article-comments.xml http://www.autoblog.com/feed/2009/06/05/confirmed-gm-and-penske-outline-proposed-deal-for-saturn-aura/19058879/article-detail.xml 19058879 http://www.blogcdn.com/www.autoblog.com/media/2009/06/penskesaturnsky_opt_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2009/06/penskesaturnsky_opt.jpg <![CDATA[REPORT: Penske lines up as potential Saturn suitor]]>http://www.autoblog.com/2009/05/05/report-penske-lines-up-as-potential-saturn-suitor/http://www.autoblog.com/2009/05/05/report-penske-lines-up-as-potential-saturn-suitor/http://www.autoblog.com/2009/05/05/report-penske-lines-up-as-potential-saturn-suitor/#commentsFiled under: ,



The typical relationship between automakers and dealerships, of course, is for the dealers to sell the cars that the automaker produces. But with General Motors shedding like a dog in springtime, it's the dealers who have been looking to buy the brands themselves. Following interest expressed by German dealers to acquire Opel and a group of investors including equity firm Black Oak and the brand's own dealers to acquire Saturn, one of the country's biggest dealership groups is stepping up to the plate as a serious contender to take over the no hassle GM division.

Suburban Detroit-based Penske Automotive Group statistically sells the second most amount of new cars in America. It also runs truck leasing, shipping/logistics and, of course, racing operations to great success. But Penske has also got experience shaping the fortunes of automakers, as well, after handling the introduction of Smart cars in North America and the turnaround of Detroit Diesel from a money-losing operation into a profit-generating one. Of course, Penske is just one of many potential buyers for Saturn, but with Roger's business acumen and proven track record, he's one the General can't afford to ignore.

[Source: Wall Street Journal and Automotive News - subs. req'd]

REPORT: Penske lines up as potential Saturn suitor originally appeared on Autoblog on Tue, 05 May 2009 10:29:00 EST. Please see our terms for use of feeds.

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