Penske buys Saturn!

randyrad · 6/6/09, 1:05 PM

Quote:

Originally Posted by michiganmadman

I will agree that Penske buying Saturn is a good thing. The not so good part is that he will be IMPORTING the new Saturns which will be built globally.While many Americans will keep a job in sales, the production of these cars will once again be shipped overseas.

The new GM can continue to compete to design & build new Saturns. They'll have the lead when the race goes green in 2011. Lets see if the new GM/UAW can produce competitive vehicles. Show us what you got.

michiganmadman · 6/6/09, 1:37 PM

Here is what I read:

"Under the terms of the deal, Mr. Penske, a former race car driver whose Penske Automotive Group is one of the largest dealerships in the country, will initially buy Saturn vehicles from G.M. But he is expected to eventually buy cars from other carmakers like Renault, through its Samsung Motors Unit in Korea. Mr. Penske’s company, which owns 310 franchises around the world, already serves as the sole distributor of Daimler’s Smart line of small cars."

6/6/09, 1:44 PM

My prediction is, he will keep Saturn here in the states and bring in additional brands from overseas.
Just my guess though, but Penske is a pretty savvy businessman and I think he understands that should he shut down American jobs to move them overseas, he would NOT sell very many Saturns after a boneheaded move like that!

This is the quote that makes me "think" this;
Penske expects to keep all the dealerships in tact and will keep open the existing manufacturing facilities, and also could eventually add cars from other manufacturers.

600minisprint · 6/6/09, 2:25 PM

I work for a caddy dealership in Kokomo as a mechanic there is not any all american made cars anymore...

randyrad · 6/6/09, 4:03 PM

I think I read he's contracted to buy from GM through 2011.
He shares the current Saturn product line with GM. It would make sense to stay with them so long as those models remain viable.
Will the Green VUE plug-in hybrid technology be Saturn, GM, or both ?
GM has the advantage to be his supplier going in. Can they compete ?
Could he be the middleman for a foriegn automaker to build Saturn badged models in vacated GM/Chrysler plants?
He could buy from GM for some models & from anyone/anywhere for other models.
Lots of possibilities.

Tony Barhorst · 6/6/09, 4:48 PM

Penske bought Detroit Diesel a decade or two ago...and did a good job with that. This is good news..No reason to get political.

SUPERDUKE · 6/6/09, 6:47 PM

roger has hired bill vukovich as gm! Thats great!

watkinsgrady · 6/6/09, 8:07 PM

Quote:

Originally Posted by Tripcrwn

Say what????

Its Ca lingo

Grady

sc96 · 6/6/09, 9:10 PM

I am going to buy FORDS they are still intact and quality is not a problem. Wait till the new GM line comes out Quality is going to be a problem outside manufactures are left holding the bag on this deal so how are they going to regain some of their loss. By buying cheaper raw material I work very very close to a major supplier to GM they are going to use material that is much cheaper and lesser quality. This is being done with the GOVERMENTS BLESSING.

6/6/09, 1:37 PM	#22 Re: Penske buys Saturn!
michiganmadman Member Join Date: Jul 2007 Posts: 90	Here is what I read: "Under the terms of the deal, Mr. Penske, a former race car driver whose Penske Automotive Group is one of the largest dealerships in the country, will initially buy Saturn vehicles from G.M. But he is expected to eventually buy cars from other carmakers like Renault, through its Samsung Motors Unit in Korea. Mr. Penske’s company, which owns 310 franchises around the world, already serves as the sole distributor of Daimler’s Smart line of small cars."

6/6/09, 1:44 PM	#23 Re: Penske buys Saturn!
OU812 Posts: n/a	My prediction is, he will keep Saturn here in the states and bring in additional brands from overseas. Just my guess though, but Penske is a pretty savvy businessman and I think he understands that should he shut down American jobs to move them overseas, he would NOT sell very many Saturns after a boneheaded move like that! This is the quote that makes me "think" this; Penske expects to keep all the dealerships in tact and will keep open the existing manufacturing facilities, and also could eventually add cars from other manufacturers.

6/6/09, 2:25 PM	#24 Re: Penske buys Saturn!
600minisprint Inactive Member Join Date: May 2009 Posts: 137	I work for a caddy dealership in Kokomo as a mechanic there is not any all american made cars anymore...

6/6/09, 4:03 PM	#25 Re: Penske buys Saturn!
randyrad Member Join Date: Jun 2008 Posts: 110	I think I read he's contracted to buy from GM through 2011. He shares the current Saturn product line with GM. It would make sense to stay with them so long as those models remain viable. Will the Green VUE plug-in hybrid technology be Saturn, GM, or both ? GM has the advantage to be his supplier going in. Can they compete ? Could he be the middleman for a foriegn automaker to build Saturn badged models in vacated GM/Chrysler plants? He could buy from GM for some models & from anyone/anywhere for other models. Lots of possibilities.

6/6/09, 4:48 PM	#26 Re: Penske buys Saturn!
Tony Barhorst Senior Member Join Date: Aug 2007 Posts: 752	Penske bought Detroit Diesel a decade or two ago...and did a good job with that. This is good news..No reason to get political.

6/6/09, 6:47 PM	#27 Re: Penske buys Saturn!
SUPERDUKE Banned Join Date: Mar 2008 Posts: 2,256	roger has hired bill vukovich as gm! Thats great!

6/6/09, 9:10 PM	#29 Re: Penske buys Saturn!
sc96 Senior Member Join Date: Dec 2007 Posts: 487	I am going to buy FORDS they are still intact and quality is not a problem. Wait till the new GM line comes out Quality is going to be a problem outside manufactures are left holding the bag on this deal so how are they going to regain some of their loss. By buying cheaper raw material I work very very close to a major supplier to GM they are going to use material that is much cheaper and lesser quality. This is being done with the GOVERMENTS BLESSING.