Retailers

It Is Official: Penske to Buy Saturn, Transform it Into a Larger Global Brand

Roger Penske

Sharon Terlep and John Stoll from the Dow Jones Newswires: Each of General Motors' 350 US Saturn dealerships will receive offers to continue selling the vehicles under a tentative deal announced Friday to sell the brand to mega dealer Roger Penske. Penske, who runs the Penske Automotive Group chain of dealers, will take over the brands, trademarks, service and parts operations and distribution operations related to the Saturn. "We will have a completely independent company, and it will be lean," Penske said in a conference call with reporters Friday.

Syracuse Saturn Retailer Ready to Leave Shrinking General Motors Galaxy

Rick Moriarty from the Post-Standard: When he bought the two Saturn dealerships in Onondaga County in 2006, Emmanuel Boykin planned to move both into a brand-new facility, built with green technology, in the Syracuse area. Then, six months ago, General Motors dropped a bomb of sorts on Boykin's plans.

General Motors May Announce Plans for Saturn on Monday, Retailers on Standby

2005 Vue Red Line at Saturn/West in Columbus, Ohio

Dan Gearino from the Columbus Dispatch: Saturn, launched in 1990 to compete with the affordable small cars of Toyota and Honda, soon will be sold or spun off. GM might announce its decision Monday, when it will submit the latest version of its restructuring plan, and probably will disclose plans for Saab and Hummer as well as Saturn.

Retailer Joe Serra Confirms Interest in Joining Group Looking to Buy the Saturn Brand

Ron Fonger from the Flint Journal: Mega auto dealer Joe Serra confirmed he is talking with automotive entrepreneur Roger Penske about saving Saturn, but isn't sure where those talks will lead. "I've got a lot of respect and admiration for the Saturn brand, the retailers, the network and obviously Mr. Penske," Serra said Wednesday. "There's no formal agreement (between us).

Michigan Business Review: Local Saturn Store Waiting to See Which of Several Suitors Will Buy the Brand

Saturn of Saginaw

Paul Wyche from the Michigan Business Review: The Great Lakes Bay Region's sole Saturn dealer sits – and waits. "That's about all we can do," said Pete Serra, owner and president of a Saturn dealership in Saginaw, as well as Flint. "In the beginning, a group of dealers may have been talking about buying the brand from GM, but we're talking about multiple big players now."

Charm of Saturn Eclipsed by Its Retailers

Jim Jelter from MarketWatch: General Motors, having just watched Chrysler hit the wall of bankruptcy, is scrambling to avoid the same fate. To help beat the clock, the company announced Monday it's "reviewing expressions of interest" from potential buyers of its Saturn brand.

Retailer Says Saturn Future Rests on New Buyer, Plans to Host Regional "Homecoming" Event in June

Jerry Siebenmark from the Wichita Eagle: When Scott Davies talks of the future of the Saturn brand that his Wichita auto dealership carries, he talks about the brand's sale. "The question is who is going to end up with Saturn," Davies, owner of Saturn of Wichita, said Wednesday. "We are not closing. That is not an option."

General Motors Plans to Sell Saturn this Year

From the Associated Press by way of the NYT: Saturn General Manager Jill Lajdziak said the brand, once billed as a different kind of car company, most likely will be sold, given the interest of several buyers who have surfaced. She says GM will take other bids for the brand until June 1.

Telesto Reiterates Interest to Save Saturn

Telesto Ventures, an investor group that includes private equity firm Black Oak Partners and a number of Saturn retailers, reiterated its intent to acquire Saturn Distribution Corporation (SDC) in its ongoing effort to save more than 440 US and Canadian Saturn retailers and preserve an iconic American brand. The group originally put forth its intentions to GM on April 9th.

Video: As GM Viability Plan Evolves, Saturn Retailers Prepare for Future as Separate Entity

Terry Camp from ABC 12 WJRT: General Motors plans on building its last Saturn vehicle by the end of this year, and that may not be a bad thing. "I love it," said Saturn owner Pat Lane. Lane says he loves his Saturn and thinks the company might have a better chance to succeed once it leaves the corporation that developed it.

Random Article from the SaturnFans.com Archives

Historic Saturn, GM Vehicles Sold at Barrett-Jackson Auction Earlier this Month

On the Auction Block: Saturn Lola Race Car

Mark Vaughn from AutoWeek: More than 200 cars from GM's Heritage Fleet went on the block in what GM called normal housekeeping. Note that's the Heritage Fleet, which is different from the Heritage Collection. The latter has about 350 cars. "The Heritage Collection is sacred, a critical part of the history of GM," said Brian Baker, collection manager and design historian.