You've seen the dealer commercials before. "Now is the time to buy.... year end sale!" Well, if you want the Pontiac or Saturn of your dreams, this really is the best ever time to deal because it's literally the last chance to get a new vehicle from these brands. The Wall Street Journal reports that General Motors is offering dealers $7,000 in cash for each new Saturn or Pontiac model sold until the deal ends January 4. Edmunds reportedly told the WSJ that it expects GM will have about 4,200 Sat
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.
As the bidding to take over over the Saturn brand from General Motors nears its conclusion, it looks increasingly likely that Roger Penske will walk away with the "prize." Regardless of who takes control, all Penske is slated to receive is a network of dealers and a brand name. GM has already announced it will cease producing new Saturn cars at the end of June 2009, which means the new owner will have to line up another company to provide products for those 380-odd stores. One of the rumors maki
General Motors is busy putting the finishing touches on its third (or is it fourth?) viability plan, part of which involves the sale or shut down of the Saturn division. While many were expecting GM to close down Saturn, GM has released a press release to tell the world that the fledgling marquee is on the block, and there are several suitors in hot pursuit. The new owner will inherit the Saturn name and its 400 dealer-strong retail network. Advisory firm S.J. Girsky & Co. has been retained