Impact of Penske Group buying Saturn
The news reports today indicate that the Penske Group is going to buy Saturn from GM. This is great news for Saturn because it will mean the continuation of that brand and maybe a chance for Saturn to go back to the basics and recoup their innovation that launched them in the first place. As noted in the news, the Penske Group is the exclusive U.S. dealer for Smart cars.
I sure hope that they will consider selling and servicing the Smart cars in their Saturn dealerships. It sure would be nice to have a local dealer and service center than having to drive hundreds of miles to a dealer!
I also hope that they will look at designing something that can be built in the USA to compete with Smart. Although I love my Smart car, I would love it even more if it were built in the USA. The article implies that the Saturn will be built by GM still until 2011, so maybe they are not buying the manufacturing plant in Spring Hill, TN as part of the deal. If all they are getting is the brand and dealership network, then our best hope is for the Smart sales and service to be incorporated with the Saturn dealership network.
http://money.cnn.com/2009/06/05/news/companies/saturn_penske/index.htm
I sure hope that they will consider selling and servicing the Smart cars in their Saturn dealerships. It sure would be nice to have a local dealer and service center than having to drive hundreds of miles to a dealer!
I also hope that they will look at designing something that can be built in the USA to compete with Smart. Although I love my Smart car, I would love it even more if it were built in the USA. The article implies that the Saturn will be built by GM still until 2011, so maybe they are not buying the manufacturing plant in Spring Hill, TN as part of the deal. If all they are getting is the brand and dealership network, then our best hope is for the Smart sales and service to be incorporated with the Saturn dealership network.
http://money.cnn.com/2009/06/05/news/companies/saturn_penske/index.htm
Views: 0
Replies to This Discussion
-
Permalink Reply by jwight on -
Some other reports indicate GM will manufacture the Penske Saturns in the beginning. Whether these will be the current cars (mixture of US and Opel designs) or something new only time will tell. Doubt if the smart will be sold or serviced from Penske Saturn dealerships since PAG required each smart center to invest big time money to be able to sell our smarts.
-
Permalink Reply by Jim Yedor on
-
There are a few cetainties with Penske- Innovation, professionalism. creativity, customer service. The "wait and see" will be fun.
-
Permalink Reply by Robert Stout on -
Here I go AGAIN...Penske's debt load requires grow or die...He is the top bidder for Saturn for an undisclosed amount, using OPM...His business model is not to build Saturns, but to sell them...By outsourcing manufacturing, he can turn a profit like on the Smart...Hell, he may even get bailout money if he becomes too big to fail...
-
-
Penske Automitive Group (PAG)- $16.22 per share. That's up 70% in the last 3 months, 2/3 of the way to it's 3 year high. Pense isn't broke yet.
-
Permalink Reply by Robert Stout on
-
Two things I know for sure----
1. GM shares used to sell for more than $16.22 a share and now they are bankrupt...
2. Sycophants deserve a raise...
-
Permalink Reply by JonTheDull on -
From what I understand GM will make Saturn cars for Penske till 2011 but Saturn looses the Sky and I think the Astra, and I think that's because of the Opel deal. From other things I've read it sounds like Penske will seek other companies to get cars from an rebrand as Saturns. The one most often mentioned has been Renault-Samsung from Korea which makes products that are based off of Nissan vehicles. I think Penske said that other makers were being talked to.
-
Permalink Reply by Mary Smith on -
Dave Schembri, pres of SMART USA attended the Wisconsin Dells Road Rally. He discussed the Saturn buy out in detail, but the bottom line is that it will continue to be completely separate from SMART and should not affect SMARTsignificantly.
Photos
© 2012 Created by izzysmart.
