General Motors' bankruptcy filing is only a few days old, but the struggling automaker already seems to be pressing ahead full steam. The General has already announced 14 plant closings, 23,000 more job cuts, 1,300 dealer closings, and a buyer for the Hummer brand. Company CFO Ray Young told reporters at a recent conference call that GM has three buyers interested in Saab and an astonishing 16 suitors for the Saturn brand.
Saturn is likely appealing to investors because it has a right-sized, ready-made, stand alone group of dealerships with a stellar record for good customer service. The terms of any Saturn sale will likely include GM supplying vehicles in the short term until the new buyer can attract vehicles from other automakers. GM hasn't yet revealed any potential Saturn buyers, but names ranging from Roger Penske to Malcolm Bricklin have been discussed as candidates.
[Source: Detroit Free Press]
Saturn is likely appealing to investors because it has a right-sized, ready-made, stand alone group of dealerships with a stellar record for good customer service. The terms of any Saturn sale will likely include GM supplying vehicles in the short term until the new buyer can attract vehicles from other automakers. GM hasn't yet revealed any potential Saturn buyers, but names ranging from Roger Penske to Malcolm Bricklin have been discussed as candidates.
[Source: Detroit Free Press]
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