Roger Penske buys Saturn from GM.

Discussion in 'OT Driven' started by deusexaethera, Jun 5, 2009.

  1. deusexaethera

    deusexaethera OT Supporter

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    http://finance.yahoo.com/news/GM-to-sell-Saturn-brand-to-apf-15450535.html

    :run:

    A guy bought a division of a company? How do you sell that much shit to a guy? Dude must be richer than God.

    Anyway, this is cool, because it's basically going to convert Saturn back into the brand it originally was, with GM building the cars (for the time being) and an independent management overseeing operations. This is really good news for them.
     
  2. Toxicity

    Toxicity New Member

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  3. deusexaethera

    deusexaethera OT Supporter

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    Because Saturn was the first promising thing GM had done in ten years back when they introduced it, and because they're selling it now that they've more/less totally fucked it up, so the guy can buy a whole goddamned car company on-the-cheap. Why not Saturn?

     
  4. Bugalu

    Bugalu OT Supporter

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    should be interesting to see what he does with it
     
  5. CJPA

    CJPA New Member

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    in for Saturn Indy car
     
  6. 396Hawk

    396Hawk Active Member

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    Yes, a guy bought it. What is so hard to understand?
     
  7. Corz

    Corz ha ha! snikt

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    The guy has been around in the car world for over 40 years, and made a fucking fortune. whats so hard to understand about that?
     
  8. TriShield

    TriShield Super Moderator® Super Moderator

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    He bought the name. It's just a name GM sticks on cars it makes. Now Penskie is going to be sticking it on cars he imports from South Korea for further fail.
     
  9. Havsie

    Havsie When I die, bury me inside the Pepsi 1893 store OT Supporter

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    Plenty of people could buy out Saturn..it isn't worth much. :rofl:
     
  10. art_VW_shark

    art_VW_shark OT Supporter

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    apparently he promised some of the names will stick around
     
  11. MeanGreen

    MeanGreen New Member

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    You don't for see the cars being supplied for Saturn coming from Opel? I honestly thought that the reason why no body picked up on Saturn yet was because all the great cars they had now were from them and they wanted to see where the landed in the middle of it before any further steps were taken
     
  12. GammaRadiation

    GammaRadiation Active Member

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    Saturn was originally intended to compete with the Asian econoboxes that have rapped profits away from US companies since the mid 80's.
     
  13. TriShield

    TriShield Super Moderator® Super Moderator

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    Why would you want to continue selling Opels as Saturns if nobody buys them? The entire product line of Saturn is currently priced high above it's traditional price piont, which is why it went real south real fast.

    I looked at Penske's interview with Edmunds on Friday and he doesn't seem to understand that like GM didn't understand that. Unless he can find a lineup of a really cheap and really cheerful cars to sell it's going to sap his company of money.
     
  14. Corz

    Corz ha ha! snikt

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    Especially since his main sponsor for his race team is marlboro, and they cant even advertise on his race cars anymore. he pretty much self sponsors his own race teams
     
  15. TriShield

    TriShield Super Moderator® Super Moderator

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    I don't see how he's going to make the name work unless all he really wanted was the network of stores to sell used cars through.
     
  16. Mr.Right

    Mr.Right N2O

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    werd. in 2006 when i was looking for a 4 cyl econobox for my 100+ mile a day commute, i had looked at alot of new cars, and always had the impression that saturns were the cheapest of the cheap. so when i actually looked at the saturns and priced them, i just laughed at the high prices and moved on. the cars were priced WAY too high for the saturn name. when i hear saturn, i think "cheap, plastic, disposable cars."



    if it matters i got a cobalt.
     
  17. TriShield

    TriShield Super Moderator® Super Moderator

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    China is going to veto the purchase of HUMMER by a company there too. Which they should.
     
  18. WyldKat

    WyldKat Come with me if you want to live.

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    I hope they'll keep making Sky Redlines... I want one eventually...when I'm not a po' ass. >.>
     
  19. Mr. Kitty Litter

    Mr. Kitty Litter OT Supporter

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    I actually think the current Saturn Vue looks pretty good.
     
  20. TriShield

    TriShield Super Moderator® Super Moderator

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    GM is closing that plant in Wilmington. The Kappa roadsters were very expensive investments, expensive to build and unprofitable. The Sky is a one generation car only.
     
  21. TriShield

    TriShield Super Moderator® Super Moderator

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    Not bad... for a Daewoo.
     
  22. WyldKat

    WyldKat Come with me if you want to live.

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    That's disappointing. Maybe they will depreciate enough to become affordable for me.
     
  23. MeanGreen

    MeanGreen New Member

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    I see your logic. I didn't honestly follow Saturn's business status over the past couple of years. Only thing I was paying attention to was that they were actually selling some of the best cars they had ever offered.
     
  24. art_VW_shark

    art_VW_shark OT Supporter

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    not bad for that segment.
     
  25. twistid

    twistid Banged By Super Models Moderator

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    the saturn customer base are a bunch of whiners, or atlest the ones around here are... i don't understand why he'd buy that name, of all the failing names in the gm stable... you'd figure he'd try to get pontiac, unless he's aiming for the sub-$10k market.
     

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