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Old 04-27-2009, 09:09 AM   #1
L55
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Default GM moves Saturn closing date !

Fritz has announced the build-out date for Saturn is now 2009.
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Old 04-27-2009, 09:27 AM   #2
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Default GM Press Conference Details---Pontiac, Saturn, Hummer, Saab are all now gone

I was going to post on this as well...

Still listening to questions on the webcast and watched it on CNBC this morning....

Here are some details, announced by Fritz Henderson:

* Pontiac is done at the end of 2010
* Saturn/Hummer/Saab will have NO NEW PRODUCTS PAST 2009.
* GM will consolidate to 4 Brands- Chevy, Cadillac, Buick, GMC
* 34 Total Nameplates
* GM Dealerships will shrink from current 6246 Dealerships down to 3605 Dealerships by the end of 2010.
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Old 04-27-2009, 09:31 AM   #3
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Default Re: GM moves Saturn closing date !

Fritz has said no deal is on the table for Saturn that would warrant producing past this model year. So there you have it...contrary to some people's assurance that "deeper, faster" cuts wouldn't touch Saturn...we now know that whatever is out there as far as inventory is IT !! No more. Any new spin-off will need product in the showrooms this fall. Read between the lines folks.
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Old 04-27-2009, 09:43 AM   #4
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Default Re: GM moves Saturn closing date !

So, does anybody have an actual link to validate any of this? Please do share.
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Old 04-27-2009, 09:49 AM   #5
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Default Re: GM moves Saturn closing date !

Is this good enough for you Marx 404?

http://dealbook.blogs.nytimes.com/20...onference/?hpw

9:01 AM

9:01 a.m.| A few minutes ago, G.M. said what everybody expected: it is killing the Pontiac brand. It expects to go forward with four brands ó Chevrolet, Cadillac, GMC and Buick. Some analysts think all G.M. needs is two ó Chevrolet and Cadillac ó since Japanese companies, like Toyota, Honda, and Nissan ó primarily have two brands in the U.S. But to put this in perspective, G.M. will now have fewer brands than it did when it started in 1908.

G.M. says Hummer and Saturn will be gone by the end of 2009; Pontiac goes away by 2010. Fritz Henderson, G.M.ís chief executive, says brands ďonly play offense well. They donít play defense well.Ē He says G.M. didnít have a strategy to win with Pontiac, nor could it put the market muscle it needed behind the brand.

By next year, G.M. will offer only 34 nameplates, down from 48 in 2008. G.M. says it plans to cut the number of dealers from 6,246 last year to 3,605 by the end of next year. To put that in some context, G.M. has about 20 percent of the American car market now, with 6,246 dealers. Toyota, the number two car maker in the United States, has about 17 percent and 1,300 dealers (including Lexus). So G.M. will still have almost three times as many dealers as Toyota does, with a couple market share points more.



New York Times Live Blog from the Press Conference
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Old 04-27-2009, 10:50 AM   #6
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Default Re: GM moves Saturn closing date !

"Itís worth noting that Saturnís expiration date has been vastly accelerated since G.M. first said it was going to phase out the brand. It originally said that Saturn would go away in 2012; now it is going away by the end of this year. That means Saturn wonít even celebrate its 20th birthday, which would have fallen next year."

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Old 04-27-2009, 10:57 AM   #7
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Default Re: GM moves Saturn closing date !

Quote:
Originally Posted by wolfman View Post
"Itís worth noting that Saturnís expiration date has been vastly accelerated since G.M. first said it was going to phase out the brand. It originally said that Saturn would go away in 2012; now it is going away by the end of this year. That means Saturn wonít even celebrate its 20th birthday, which would have fallen next year."

Live fast, die young, and leave a good looking corpse?

At least a good looking corpse that looked "good" before GM took the makeup off (around 2004/2005)....in my opinion.
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Old 04-27-2009, 11:06 AM   #8
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Default Re: GM moves Saturn closing date !

On FOX BIZ Fritz just said that there are a couple of parties interested in the dealership network but that may or may not include keeping the Saturn name...possibly simply buying the dealership channel for another brand meaning the end of Saturn in any form. His last comment on Saturn was "whatever the case we have to stop providing resources to Saturn at the end of this year"..ie: marketing, product..etc.
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Old 04-27-2009, 11:10 AM   #9
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Default Re: GM moves Saturn closing date !

I guess its time for Todd Ingersoll to fish or cut bait on his "world class cars" promise of 4 weeks ago. I wonder how many Saturn dealers and sales folks are walking around after today's news saying..."wow, these certainly are exciting times"
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Old 04-27-2009, 11:11 AM   #10
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Default Re: GM moves Saturn closing date !

What I am flabbergasted by here is that GM stock has gone UP 30 % since the Press Conference this morning....

How do you explain this?
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Old 04-27-2009, 11:17 AM   #11
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Default Re: GM moves Saturn closing date !

I heard earlier it was because until last night there was talk that shareholders might get 0% in the new GM...now they will get a %. This has the stock back to at least being worth a small amount.
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Old 04-27-2009, 11:17 AM   #12
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Default Re: GM moves Saturn closing date !

Here is an article with more details.

>>>> Automotive News April 27, 2009 - 9:37 am ET <<<<<

General Motors plans to build the last Saturn vehicles this year (2009), two years earlier than planned, as it speeds up plans to shed dealerships and divisions, CEO Fritz Henderson said today.

The Saturn brand still may survive if GM can sell it to another automaker or investor, but GM no longer will build vehicles for Saturn after the 2009 model year, Henderson said on a conference call.

In its Feb. 17 plan submitted to the U.S. auto task force, GM planned to build Saturn vehicles through 2011. Under a revised plan announced today, GM will shed Pontiac next year, leaving the automaker with just four U.S. brands: Chevrolet, Cadillac GMC and Buick.

Henderson also said that GM no longer will build Hummer vehicles after the current model year.

No Pontiacs rebadged

No Pontiacs will be rebadged as Chevrolets, he said. The new G8 sports sedan will be dropped as will the Solstice sports car. Henderson said the Pontiac Vibe could be built into 2010, pending negotiations with manufacturing partner Toyota Motor Corp., which assembles the same car as the Toyota Matrix at a joint venture plant in California.

GM has begun talks to sell Saturn to a private equity group working with Saturn dealers.

"If a sale of Saturn does not occur, we intend to phase out the Saturn brand by the end of 2009," GM said in its government filing today.

"As a result, our current Viability Plan does not comprehend production and sales to dealers of Saturn products beyond 2009."

Earlier this month, an investor group called Telesto Ventures said it wants to acquire Saturn's retail operations and provide dealers with vehicles from GM through 2011 and from mostly overseas manufacturers thereafter. A GM spokesman called the group's proposal legitimate and "very interesting." He said there also were other parties interested in Saturn.

A Telesto spokesman said his group was in discussions with several unidentified foreign manufacturers.

He said Telesto, which was formed specifically for the Saturn venture, encompasses a private equity firm, Black Oak Partners LLC, of Oklahoma City, and several other investors. It's unclear how much money is backing Telesto and what automotive experience it has.

Dealer reaction

John Danielson, sales manager at Saturn of the Lakes north of Orlando, Fla., said he has 100 new Saturns in stock. The store sold only eight new Saturns last month. Monday's announcement confirmed a rumor Danielson said he heard last week.

"Business is very tough right now. Our new and used is down 50 percent over last year," said Danielson. Some deals for new cars that have not yet been delivered are now in danger of falling through because of GM's announcement Monday that no new Saturns will be built after the 2009 model year.

Danielson, who worked at the store when it was an Oldsmobile dealership, said he expects GM to come out with new incentives to persuade customers to buy the final models.

>>> END <<<

Here is my 2 cents !

Since car business is global I am reading what is happening with Opel (GM Europe) which is also the builder of the Astra, Sky, Aura.

Fiat seems to be interested in Opel since GM is also unloading that brand in Europe. Fiat had a desire to come back to North America for a long time. If they buy Opel and why not Saturn, they could supply Saturn with cars for a while (Opel) and then gradually introduced Fiat cars. This is a very good opportunity for them because the Saturn dealers have a good client base and dealerships all over North America. Fiat will save a lot of $$$$ and time by buying a dealership network at a " liquidation price ".

Also Saab could be interested with this because in Canada most Saturn dealerships carry the Saab cars as well.

What do you think ???
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Old 04-27-2009, 11:28 AM   #13
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Roll Eyes Re: GM moves Saturn closing date !

Gee, I never saw this coming.

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Old 04-27-2009, 11:52 AM   #14
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Default Re: GM moves Saturn closing date !

and I'll post this here too. Sorry to repeat myself but this is spammed all over the forum so again:

What this means is that Saturn must move to the next phase of the Spin-Off plan faster than it had anticipated. It is not a definitive death toll for Saturn.
This means that potential investors and plans must be looked at and plans must be made quicker to divorce ourselves from GM, that is all we know for now.
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Old 04-27-2009, 12:08 PM   #15
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Default Re: GM moves Saturn closing date !

Quote:
Originally Posted by marx404 View Post
and I'll post this here too. Sorry to repeat myself but this is spammed all over the forum so again:

What this means is that Saturn must move to the next phase of the Spin-Off plan faster than it had anticipated. It is not a definitive death toll for Saturn.
This means that potential investors and plans must be looked at and plans must be made quicker to divorce ourselves from GM, that is all we know for now.
Are you seriously holding out hope that an investor is going to come along and swoop up Saturn?

As much as I would like to see it happen as the next person...my own thoughts are that if it was going to happen, there would have been something more Concrete in motion by now...instead of all of these reports of "Speculative Buyers" or "Potential Investors" that are interested in "Buying Saturn".

At least let Saturn go off into a Green Pasture or off into the sunset with SOME dignity, instead of ruining it with another manufacturing process that potentially won't live up to what they have been so far.

To each his own...if you want to believe and hold out hope that Saturn will be "Saved"...more power to you.

Actually watching Fritz Henderson on the webcast and CNBC broadcast (I watched both)...and him actually say that there "Will be NO NEW PRODUCTS for Saturn, Hummer and Saab PAST 2009", was a pretty good indication that Saturn is DONE.

Believe what you want.
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Old 04-27-2009, 12:17 PM   #16
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Default Re: GM moves Saturn closing date !

"depending on the deal negotiated, gm would consider offering contract manufacturing for the buyer of saturn." they may still end up with similar cars as they have now "gm will be reviewing expressions of interest from potential investers between now and june 1st, and will work to have an agreement in place with a specific invester by the end of the year."
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Old 04-27-2009, 12:30 PM   #17
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Default Read my lips : No New Saturns past 2009!

Since I've just bought an '09, I guess I am one of the lucky owners who bought the last production year model.

I wonder if this will help the vehicle's value appreciate over time?
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Old 04-27-2009, 12:36 PM   #18
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Default Re: GM moves Saturn closing date !

I feel bad for you Eelfw, the sales people were just trying to make a living and I am sure they would of told you anything for a sale.

With this announcement, all Saturn resales have gone down another 25%.
So your vehicle is worth less, not more.
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Old 04-27-2009, 12:42 PM   #19
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Default Re: GM moves Saturn closing date !

Quote:
Originally Posted by fritzy View Post
I feel bad for you Eelfw, the sales people were just trying to make a living and I am sure they would of told you anything for a sale.

With this announcement, all Saturn resales have gone down another 25%.
So your vehicle is worth less, not more.
Get over yourself Fritzy. You know nothing of the interactions of me and my customers (all 1046 of them). How dare you imply that Saturn Consultants will say anything to pay the blls. I would sooner sign up to dig ditches than to mislead any prospective customer.
You also have no idea of resale, how it is calculated or how it responds to the market. You seem to be yet another poster who just wants to see his name next to some text.
You want your 15 minutes of fame here on Saturn Fans? Bring it on cupcake.
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Old 04-27-2009, 12:58 PM   #20
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Default Re: GM moves Saturn closing date !

Quote:
Originally Posted by 2NDSOUT View Post
To each his own...if you want to believe and hold out hope that Saturn will be "Saved"...more power to you.

Actually watching Fritz Henderson on the webcast and CNBC broadcast (I watched both)...and him actually say that there "Will be NO NEW PRODUCTS for Saturn, Hummer and Saab PAST 2009", was a pretty good indication that Saturn is DONE.

Believe what you want.
Even though Spin-Off information has been under wraps I see no concrete evidence that that will never happen, ergo, until that is said there is no concrete evidence that Saturn is done, only your speculations and wishes.

Correct that there will be no new GM products for Saturn....This would only indicate that GM is done with Saturn and presumes nothing more.

Now lets move on with this mess and see what Saturn themselves have to say before we make any personal declarations please.
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