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Automotive News & Views Do You Favor A Government Loan To The Detroit 3?
3958 messages, Last post on Oct 02, 2009 at 4:52 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: hpmctorque (Sep 30, 2009 5:57 pm)
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Replying to: british_rover (Oct 01, 2009 1:18 pm) |
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Replying to: hpmctorque (Oct 01, 2009 7:56 pm) Maybe you think GM could put Saturn on Ebay?  What would you bid? 
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Replying to: hpmctorque (Oct 01, 2009 7:56 pm) IMO, now that GM has restructured and trimmed it's vehicle portfolio, selling Saturn could mean an additional competitor down the road. Something GM definitely doesn't need in the small car market. There are enough players and GM is struggling mightily in that area. I feel for those employed by Saturn, but GM will be better with Saturn gone. Saturn has done nothing but cost GM money and I don't think they ever once earned a return on their investment. While Saturn may have a relatively strong brand, GM does not have the resources to make Saturn a success.
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Replying to: dieselone (Oct 02, 2009 10:08 am) Close. It is my understanding that the deal with GM and Penske fell through because Penske couldn't find a supplier to stock the showrooms after the initial 18 month window with GM closed. The particulars involved the Nissan-Renault alliance, with cars supplied by Renault's South Korean partner Ssanyong. Apparently, the BOD of Nissan-Renault rejected the deal because they didn't want the competition against Nissan in NA. Since Penske had no source of product after 2011, he pulled the plug - and 350 Saturn dealers and 13,000 employees are now, possibly, out of work. The deal would have been good for GM, since they would have collected some undisclosed amount of money for the dealer network. Now, "Old GM" has to write off Saturn from its books.
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Replying to: michaell (Oct 02, 2009 11:37 am) I had read that too. But I was just looking at GM's side of the equation. Sure, GM would like to sell Saturn and needs the cash, but down the road, I think Saturn being gone and not a competitor will probably be good for GM. |
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Replying to: kernick (Oct 02, 2009 8:50 am) |
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