Renault Says Saturn Deal "Just Didn’t Add Up"

Lindsay Chappell from Automotive News: In the eleventh hour of Roger Penske's venture to acquire Saturn from General Motors to keep the brand alive, Renault's executive committee in France concluded, "Ca fait deux." Rough translation: "It's not going to come together." Despite Penske's statements that his organization had been in discussions with automakers around the world, ultimately his hopes had been pinned on only one: Renault. Penske and Renault CEO Carlos Ghosn are friends and talk frequently. But Frederique LeGreves, Renault's chief spokeswoman, says it came down to the math. "The business case just didn't add up," LeGreves said from Paris. "We looked at doing it. There was nothing political in our decision. It's just that the math wasn't happening."

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