Penske Buying Saturn.....Interesting

**Doma** · June-04-09, 06:51 PM

http://freep.com/article/20090604/BU...s+Saturn+brand

Business "LION" Rodger Penske buying Saturn? Perhaps we will have a "Big 4" when all of the dust settles......

Interesting......

**thecarl** · June-04-09, 07:00 PM

word has been that he's only interested in the distribution network; still a big loss of manufacturing jobs - and probably, the brand.

**mjs** · June-04-09, 07:18 PM

I'm hoping that when the dust settles, we have the big eight or nine or ten. It makes collusion much harder, it makes it harder for them to control legislation and avoid taxes, it favors innovation, and if someone can't compete, it won't drag down the entire state. Competition is good.

lilpup · June-04-09, 07:19 PM

What will he carry, then? Smartcar, Geely, BYD, Tesla, Tata?

**mjs** · June-04-09, 07:26 PM

Tesla should buy a used plant for the Model S and a small distribution network. Buy a plant in Michigan and they could get the plant, management, and manpower on the cheap. Alot of smart and well trained folks here that don't want to have to move out of state for a job.

LodgeDodger · June-04-09, 08:38 PM

Originally Posted by mjs

Tesla should buy a used plant for the Model S and a small distribution network. Buy a plant in Michigan and they could get the plant, management, and manpower on the cheap. Alot of smart and well trained folks here that don't want to have to move out of state for a job.

Ah, yes...the Models N and R, too.

**Red Devil** · June-04-09, 08:47 PM

Maybe he wants to create a partnership with BYD to badge US market BYDs as Saturns and distribute them. Perhaps help their manufacturing processes too.

**econ expat** · June-04-09, 09:19 PM

Penske does have manufacturing experience.

He bought Detroit Diesel from GM and ran that until
Daimler bought it.

**mjs** · June-05-09, 10:21 AM

This newly updated story in Yahoo says that Penske Automotive still owns Detroit Diesel. Some other excerpts:

Penske told reporters that he expects to offer all the dealers new franchise agreements and will retain all 13,000 Saturn employees for the immediate term.

Penske Automotive Group also distributes Daimler AG's Smart subcompacts in the U.S., but Smart has its own dealership network and Saturn dealers will continue to exclusively distribute Saturn vehicles, Penske said.

Initially, GM will continue to make cars for Saturn for two years, Penske said. But he also said he is in talks with manufacturers around the world about building Saturn cars in the future.

http://news.yahoo.com/s/ap/us_gm_saturn_penske

**rb336** · June-05-09, 10:28 AM

I seem to recall that Penske/MG negotiations fell through a few years back

**MrCrush1914** · June-05-09, 10:30 AM

word has been that he's only interested in the distribution network; still a big loss of manufacturing jobs - and probably, the brand.

^^^
If he contracts GM to build these products- how is it a loss of manufacturing jobs? Your statement would make sense if he sent the manufacturing to another country or something. GM already builds other products similar to the Saturn line so why build new plants etc. It's better for GM to keep them on as a client and build their cars and keep some employees than to wash it's hands completely of the brand. It's like Delco, Visteon, etc but in reverse.

**detmsp** · June-05-09, 10:35 AM

Originally Posted by MrCrush1914

word has been that he's only interested in the distribution network; still a big loss of manufacturing jobs - and probably, the brand.

^^^
If he contracts GM to build these products- how is it a loss of manufacturing jobs? Your statement would make sense if he sent the manufacturing to another country or something. GM already builds other products similar to the Saturn line so why build new plants etc. It's better for GM to keep them on as a client and build their cars and keep some employees than to wash it's hands completely of the brand. It's like Delco, Visteon, etc but in reverse.

Yeah, well that's true, but you pulled that part about contracting GM out of your @$$. No one here said anything about contracting GM to build the products because that's not what is going to happen. Most likely outcome is that Penske uses the saturn dealer network to sell Samsungs.

I haven't heard any rumors of this, but I guy can still hope.... Magna looks like they are buying a big stake in Opel and will sell them in Canada but not the US. Maybe Penske could uses the Saturn dealer network to sell Opel here? But that's probably a pipe dream

**MrCrush1914** · June-05-09, 10:43 AM

^
[[Reuters) - GM [[GMGMQ.PK) and Penske on Friday have outlined a proposed deal for purchase of Saturn.

"Says GM would continue production, on a contract basis, of the Saturn aura, vue and outlook"

I didn't pull it out my ass... I read more than one story:

http://www.reuters.com/article/ousiv...5544C620090605

No apology neccessary

**jtf1972** · June-05-09, 10:48 AM

Could someone buy Pontiac?

I'd think Penske would be more interested in making GTO's than VUE's.

**detmsp** · June-05-09, 10:55 AM

Originally Posted by MrCrush1914

^
[[Reuters) - GM [[GMGMQ.PK) and Penske on Friday have outlined a proposed deal for purchase of Saturn.

"Says GM would continue production, on a contract basis, of the Saturn aura, vue and outlook"

I didn't pull it out my ass... I read more than one story:

http://www.reuters.com/article/ousiv...5544C620090605

No apology neccessary

Sorry, I was talking long term. There will be no next generation Aura, Outlook or Vue. This is so that the Saturn dealers have something to sell until Penske has vehicles to import.

**MrCrush1914** · June-05-09, 11:01 AM

^What is that theory based on?

**Det_ard** · June-05-09, 11:16 AM

Maybe he could rebadge the now cancelled G8 GPX.

**mjs** · June-05-09, 11:42 AM

Originally Posted by detmsp

There will be no next generation Aura, Outlook or Vue.

If they're not building next generation vehicles, why is Penske keeping the design engineers or looking for people to manufacture Saturns more than two years out?

**MrCrush1914** · June-05-09, 11:47 AM

^ He doesn't have any factual information- it's typical Dyes fiction. How dare someone have a plan and it not have some sort of hidden agenda down the line. We all know that never happens...

**econ expat** · June-05-09, 12:03 PM

Originally Posted by mjs

This newly updated story in Yahoo says that Penske Automotive still owns Detroit Diesel. Some other excerpts:

Penske told reporters that he expects to offer all the dealers new franchise agreements and will retain all 13,000 Saturn employees for the immediate term.

Penske Automotive Group also distributes Daimler AG's Smart subcompacts in the U.S., but Smart has its own dealership network and Saturn dealers will continue to exclusively distribute Saturn vehicles, Penske said.

Initially, GM will continue to make cars for Saturn for two years, Penske said. But he also said he is in talks with manufacturers around the world about building Saturn cars in the future.

http://news.yahoo.com/s/ap/us_gm_saturn_penske

I saw the same story and wondered if my memory was incorrect or I missed reading of a failed sale/ merger.
Yahoo made the same mistake

, didn't check research, So much for internet news stories....

Here's Detroit Diesel site with a timeline about development and ownership:
http://www.detroitdiesel.com/about/history.aspx

And Penske Corp website does not list Detroit Diesel amongst the subsidiaries:
http://www.detroitdiesel.com/about/history.aspx

**heedus** · June-05-09, 12:04 PM

With the exception of the Sky and Outlook, Saturn vehicles are rebadged Opels, so I think that the imminent sale of Opel complicates things a little bit. I think its way too early right now to really speculate on what's going to happen. I would love to see him pick up a couple of the Pontiac vehicles, though, especially the G8 and the Vibe, but that's a really long shot.

**Bobl** · June-05-09, 12:10 PM

Pipe Dream:

After contracting with GM for production of Saturn vehicles for two years, New Saturn President and CEO Roger Penske cuts the ribbon on the new production facility in Detroit.
Mr. Penske never has to buy his own lunch or dinner in this town again.....

**hybridy** · June-05-09, 12:42 PM

Originally Posted by Det_ard

Maybe he could rebadge the now cancelled G8 GPX.

i concur-i need a year or two before i can afford one

**MrCrush1914** · June-05-09, 12:55 PM

Originally Posted by heedus

With the exception of the Sky and Outlook, Saturn vehicles are rebadged Opels, so I think that the imminent sale of Opel complicates things a little bit.

Are those re-badged vehicles made in the US or elsewhere?

**detmsp** · June-05-09, 01:05 PM

jesus christ guys. first, i do know a person at two at GM so it's not like i'm making stuff up. but even if I had no information on the issue, does what you're all saying even make any sense?

GM needs to shed brands and models.... so they are going to do that by selling the saturn name, but then continue to develop and build saturn models? come on!

You're not going to see any new Saturns developed and built by GM. Period. Bet your life on it. That is what I meant by there won't be a next generation Aura, Vue or Outlook. Maybe Penske will slap those names on a Samsung, but that is not what I was referring to.