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Old 06-05-2009, 09:50 AM   #1
wifeofcore
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Default General Motors, Penske Outline Proposed Deal for Purchase of Saturn

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General Motors, Penske Outline Proposed Deal for Purchase of Saturn

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General Motors and Penske Automotive Group today confirmed details of a proposed transaction under which Penske would acquire the Saturn brand. If completed, the deal would save more than 350 dealerships and 13,000 jobs at Saturn and its retailers in the United States, and would preserve the customer-focused Saturn brand. The proposed transaction is part of GM's rebuilding efforts outlined in the viability plan that was submitted to the U.S. government earlier this year. Under the terms in the memorandum of understanding, Penske would obtain the rights to the brand as well as certain other Saturn assets.

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Old 06-05-2009, 10:21 AM   #2
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Default Re: General Motors, Penske Outline Proposed Deal for Purchase of Saturn

Jill is still a GM employee.

Anyone think that Roger is going to keep her on when the sale happens?

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Old 06-05-2009, 10:46 AM   #3
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Default Re: General Motors, Penske Outline Proposed Deal for Purchase of Saturn

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Jill is still a GM employee.

Anyone think that Roger is going to keep her on when the sale happens?
Wasn't Jill's specialty the development and support of the Saturn sales and retail network that the Penske people and others found to be of high value? If indeed that is what she is good at doing, she'll quickly find a job somewhere else if Penske doesn't keep her.

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Old 06-05-2009, 11:00 AM   #4
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Default Re: General Motors, Penske Outline Proposed Deal for Purchase of Saturn

I predict in 2010 we'll see an Astra VXR pace car at the Indy 500 and a hybrid, CVT transmission race car driven by Jill. Or not.

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Old 06-05-2009, 11:07 AM   #5
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Default Re: General Motors, Penske Outline Proposed Deal for Purchase of Saturn

The agreement will include the Canadian Facilities.

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Old 06-05-2009, 11:20 AM   #6
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Default Re: General Motors, Penske Outline Proposed Deal for Purchase of Saturn

Love my 2007 Aura XE here. It's my 4th Saturn. Great news about the Penske deal. As I've stated before, this would be a super opportunity for Penske and the new Saturn to get the Spring Hill, TN plant back into the family. I see that Penske might work with Nissan/Renault. Nissan's North American Headquarters is just 15 miles away from Spring Hill in Franklin, TN. Nissan is planning a big rollout of electric vehicles next year. I'd love to able to purchase an all electric Nissan/Saturn built here in Tennessee, USA!

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Old 06-05-2009, 12:40 PM   #7
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Default Re: General Motors, Penske Outline Proposed Deal for Purchase of Saturn

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Originally Posted by ARECCE View Post
The agreement will include the Canadian Facilities.
Sure hope so, but not clear on that (sorry about the French) : http://www.radio-canada.ca/nouvelles...n-penske.shtml

Do you have a source for that ?

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Old 06-05-2009, 12:43 PM   #8
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Default Re: General Motors, Penske Outline Proposed Deal for Purchase of Saturn

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Originally Posted by MiSaturn View Post
I predict in 2010 we'll see an Astra VXR pace car at the Indy 500 and a hybrid, CVT transmission race car driven by Jill. Or not.
According to this, Astra & Sky will be dropped --> http://www.saturnfans.com/forums/sho...d.php?t=139501

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Old 06-05-2009, 10:22 AM   #9
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Default Re: General Motors, Penske Outline Proposed Deal for Purchase of Saturn

Does this include dealerships in Canada?

john

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Old 06-05-2009, 12:41 PM   #10
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Default Re: General Motors, Penske Outline Proposed Deal for Purchase of Saturn

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Does this include dealerships in Canada?

john
Nope --> http://www.saturnfans.com/forums/sho...d.php?t=139501

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Old 06-05-2009, 03:02 PM   #11
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Default Re: General Motors, Penske Outline Proposed Deal for Purchase of Saturn

Penske buying Saturn is the best thing that could happen to the name. Hopefully he will come up with some great product with the driving experience, styling, ergonomics, quality and value that most of us want. Please no more boring appliance cars; the market has enough of them already! If he sources cars from China and India they better meet the standards we expect, but I can't imagine anything but the best from Roger.

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Old 06-06-2009, 02:24 AM   #12
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Default Re: General Motors, Penske Outline Proposed Deal for Purchase of Saturn

Give credit where it is due! This is an impressive event in American business history for an individual to buy a division from "Generous Motors." Mr. Penske owns 56% of the voting stock of publicly traded Penske Automotive Group. Even more impressive is the fact that this is the second time that Roger Penske has purchased a division from General Motors. The last time GM was cash strapped in 1988, Penske bought Detroit Diesel (Allison) from GM and grew market share for large diesel engines from 3% to 33% then sold the company to Daimler in 2000 for a truckload of cash. Keep it up Roger. I am glad that we can still make something with an America brand name and history.

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