Penske Leading To Buy Saturn; Announcement Tommorow?
Looks like resolutions are done or are being neared in the sale of all GM's 3 brands. A buyer has been announced for Hummer; it is being sold to a Chinese heavy equipment company with no prior experience in the automotive sector.
Looks like resolutions are done or are being neared in the sale of all GM's 3 brands. A buyer has been announced for Hummer; it is being sold to a Chinese heavy equipment company with no prior experience in the automotive sector. Saab has enough cash to sustain itself separately from the bankrupt GM, and two buyers are rumored to be in the running for them (one of which is Koenigsegg).
There is a handful of buyers remaining to purchase Saturn, with reports indicating that Roger Penske's Penske Group is the lead bidder with an announcement that could potentially come as soon as tommorow.
One of the buyers in the running is rumored to be considering using Mitsubishi-sourced vehicles. Reports also have come out that for Roger Penske's bid, he is considering sourcing Saturn vehicles from Nissan. I don't see how either would make sense unless they were differentiated from those two brands models being sold on the U.S. market.
How about sourcing Saturn vehicles from another company not sold in the United States? That would make much more sense (from my viewpoint at least). If Penske Group does get Saturn, I think that it probably will be a very good steward of the brand. What a great turn of events for Saturn fans though! Who would have thought? GM had planned to cut the brand but an effort by Saturn management and fans helped to change that. I wonder if the new company will keep brand manager Jill Lajdziak on board? I sure hope they do!
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