Roger Penske to buy Saturn from GM
 

" General Motors Corp. has struck a tentative deal to sell its Saturn brand to former race car driver and auto dealer Roger Penske. Penske, who owns the Penske Automotive Group dealership chain, told reporters on Friday that he plans to offer all 350 Saturn dealerships new franchise agreements. He says Saturn's 13,000 employees will stay on with the company for at least the immediate future. He declined to name the price for the deal. Penske says GM will continue to produce Saturn vehicles, though he is in discussions with manufacturers worldwide about building the vehicles going forward.(AP/ESPN)(6-5-2009) "
http://www.jayski.com/cupnews.htm#news39

Penske is a living legend when it comes to auto racing and has earned respect and receives it wherever he goes. I've seen him many times at the track and even though he's a very busy man he always takes the time to sign an autograph or pose for a picture with his fans. He already owns the second-largest U.S. automobile retail chain in terms of sales and has race teams in the IndyCar, NASCAR and Grand-Am series so I'm pretty sure he will know what to do with Saturn.

http://www.thewoop.com/public_html/p...ges/penske.jpg

probably got a steal on it :thumbsup

:2 cents:

yup I'm sure he did.. I was a little shocked when i saw this in the news this morning but then it made a little sence.

The Saturn Sky is a nice looking car but that is about the only one i like

Now someone fucking buy SAAB.

i'll put an ad on craigslist and see if i can unload it...

Wanna buy mine? Low miles. Only driven to whorehouses on Sundays.

i found it completely insane that GM was closing the saturn models and also pontiac.
they are keeping GMC and Buick.. which in my opinion should have been canned decades ago..
Cadillac they are keeping which i completely agree with, it is one of the few car brands they actually have designed well in recent years.

sorry but SAAB are ugly cars! When I was around 21(17 years ago) I was married and my now ex had a uncle who was a car dealer. He had me drive cars home from auctions where he'd buy and sell cars. I drove a SAAB and back then I was excited to drive it cause SAAB was considered a luxury car. it drove nice but once i got out and looked at the car it was still just one ugly car haha

The choice of which brands to keep and which to close was made based on GM's "channels" where dealers sell models from within a channel consisting of certain brands.

The objective was to leave all dealers with at least one or two brands still available to them from their channel so as not to violate any franchise agreements.

When they closed Oldsmobile they violated franchise agreements and had to pay a ton of money out to dealers.

Not sure how GM's bankruptcy affects (effects?) this if at all.

Undoubtedly he is getting a great deal.

Did anyone notice what Barney Frank did on Wednesday? Called the CEO of GM and got him to cancel the closure of a plant in his home state. Guess GM is tired of being hauled in front of congress. ^^