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Retailers May Buy Saturn (Visit this link)
Justin Hyde from the Detroit Free Press: Telesto Ventures said it would not build vehicles and would only keep a skeletal design crew on hand to adapt models from other automakers to a Saturn look. It also said it would focus future models on fuel-efficient and electric vehicles from other automakers. While such a business model doesn't exist today, Telesto's backers say the global overcapacity among automakers and the growing number of start-up firms in China and elsewhere would give the reformulated Saturn several possible sources of new vehicles. Finding automakers to work with "is not a tremendous concern," said John Pappanastos, a group spokesman. Pappanastos said Telesto's plan would ramp sales back up to 250,000 vehicles a year. Not all would have to be sold as Saturns; some could be offered under foreign brands or by start-up electric vehicle makers, but the company would try to enforce some brand similarity on its models. Pappanastos said the group made a formal presentation to GM last week and expected to talk further next week. He said Telesto took the unusual step of going public with its bid so Saturn dealers "have a hope and see a future. If they don't, they're going to turn back in their vehicles to GM and they're going to move to sue GM before it can declare bankruptcy."
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