General Motors Agrees to Sell Saturn Brand to Penske - Saturn ION RedLine Forums
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post #1 of 21 (permalink) Old 06-05-2009, 10:13 AM Thread Starter
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General Motors Agrees to Sell Saturn Brand to Penske


General Motors has reached an agreement with the Penske Automotive Group on the sale of its Saturn brand. An official announcement is expected to be made by both parties later today.

The Penske Automotive Group was thought to be one of the front-runners in the bidding war, which also reportedly included Nissan/Renault, Mitsubishi and investment firm Telesto Ventures.

The news comes just days after GM sold off its Hummer brand to Chinese industrial equipment manufacturer Tengzhong.

The Penske Automotive Group is comprised of several key automotive related companies and boasts the second largest dealer network in the U.S., accounting for sales of 171,872 vehicles in 2008.

Penske also distributes the SMART car throughout the United States under a deal with Mercedes parent company Daimler.

As a former race car driver, Roger Penske continues to be involved in motorsports, and currently runs teams in three major racing series: the NASCAR Sprint Cup, the American Le Mans Series (ALMS) and the Indy Racing League (IRL).

The sale of Saturn would leave GM with just the Swedish brand Saab to dispose of. It has been reported that buyers for Saab have been narrowed down to just two: Swedish supercar maker Koenigsegg and the U.S.-based Renco Group.

The news was reported this morning in the New York Times, which also said that after an initial contract with GM runs out, the Penske operated Saturn brand is expected to sell Renault vehicles in the United States. Does this mean North America will finally get cars like the Clio and Megane … or even the Megane R.S.? (pictured above)

More: General Motors Agrees to Sell Saturn Brand to Penske on AutoGuide.com
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post #2 of 21 (permalink) Old 06-05-2009, 10:22 AM
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That's great that they have sold of two brand already. I still can't believe they just let the Pontiac name die though.
Do y'all think Penske Racing will start using Saturn's for racecars now? That would be crazy...

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post #3 of 21 (permalink) Old 06-05-2009, 10:30 AM
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Doubt it. They get the brand...not the cars. The SKY and Astra and others that are made mainly by Opel are possibly going to be made by Magna. Kind of depends what all Magna gets, but I think they bought Opel, not just the name. Magna is planning on buying a Chyrsler and GM plant, both in Canada and sell in the US and Canada.

Penske will have to possibly come up with something else because for them to sell GM cars, they'd have to pay GM to produce them and if Saturn couldn't keep profitable enough being under GM, I don't see how them paying GM and then adding an additional couple grand to each car would help sales at all.
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post #4 of 21 (permalink) Old 06-05-2009, 11:00 AM
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how about straight from the horse's mouth:

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post #5 of 21 (permalink) Old 06-05-2009, 12:19 PM
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Sweet. I'm glad to seee someone bought Saturn. i would hate to see the brand die but I'm a bit biased now lol. I'm even more thrilled to see someone buy it that has a motorsports background.


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post #6 of 21 (permalink) Old 06-05-2009, 12:41 PM
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Sad to see the Astra will not still be made. I want one as my next Saturn

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post #7 of 21 (permalink) Old 06-05-2009, 01:31 PM
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Come on! Outlook, VUE and Aura? I have a VUE and don't even want to see that live on!

Make something fun! The run Porsches on their team for christ sake!
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post #8 of 21 (permalink) Old 06-05-2009, 01:56 PM
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Come on! Outlook, VUE and Aura? I have a VUE and don't even want to see that live on!

Make something fun! The run Porsches on their team for christ sake!
Shit chill out. THose are only continued till 2011 while they figureout what they want to be selling under the new Saturn.

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post #9 of 21 (permalink) Old 06-05-2009, 01:59 PM
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Come on! Outlook, VUE and Aura? I have a VUE and don't even want to see that live on!

Make something fun! The run Porsches on their team for christ sake!
In the la mans series. They run dodges in nascar and hondas in indy. They could always put a car that they build (when they start building their own cars) in the lower classes of the grand am series.

I wasn't real serious about them making racecars out of the cars they will have to start with, but it would be an idea for them to create a car and turn it into a racecar to get a new name for Saturn out and maybe sell more cars.

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post #10 of 21 (permalink) Old 06-06-2009, 09:25 AM
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it was still stupid for GM to simply kill off the Pontiac brand. They could have simply done exactly what they did with Saturn and Hummer, sold them. Can someone say they lost money there?
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