GM to shut down Saturn after Penske walks away
9/30/09, 04:11 PM
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GM to shut down Saturn after Penske walks away
General Motors Co. said Wednesday it would shut down its Saturn brand after an agreement with Penske Automotive Group Inc. to acquire it fell apart.
Penske, citing concerns of whether it could continue to supply vehicles after a manufacturing contract with GM ran out, ended talks with GM Wednesday to acquire the brand.
GM CEO Fritz Henderson said in statement that Saturn and its dealership network will be phased out.
http://finance.yahoo.com/news/GM-to-...&asset=&ccode=
Penske, citing concerns of whether it could continue to supply vehicles after a manufacturing contract with GM ran out, ended talks with GM Wednesday to acquire the brand.
GM CEO Fritz Henderson said in statement that Saturn and its dealership network will be phased out.
http://finance.yahoo.com/news/GM-to-...&asset=&ccode=
9/30/09, 08:51 PM
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Saturn is a victim of its parent GM aka: Mommy dearest. Saturn had a good approach when they debuted, but since then, they've become another Chevy/Pontiac dealership with similar products to other GM dealerships and divisions. Obviously GM believes its redundant, now that they don't have a deal, they annouce immediately that it will be shut down. I feel bad for their employees. Once again, bungled GM product planning and design will cause another division to vanish.
WAY TO GO GM!!!
WAY TO GO GM!!!
9/30/09, 09:00 PM
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Saturn was doing just fine until GM decided to move it up in class and became Oldsmobile's replacement.
People who were buying $12,000 Ions now all of the sudden had to pay $16,500 for Astra? It doesn't work that way.
People who were buying $12,000 Ions now all of the sudden had to pay $16,500 for Astra? It doesn't work that way.
10/1/09, 03:42 AM
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GM started their slow downward spiral back in 1977 when they discontinued the Oldsmobile and Buick engine programs. Then what did they do? They called the Chevy V8 their "corperate" motor! The stupidity started then, because the 2 best V8 engines they had were sat aside for the choice of the Chevy engine! Yeah Pontiac went too, but so what! Their engines were ho-hum anyway! Towards the end, the Pontiac and Buick 350 engines were suffering from a bad batch of crankshafts (in '75- early '76), I remember that from when I worked for Buick back then. But the Olds V8 was a real good engine and they needed to keep that! It seems that GM will find the cheapest way out to accomplish a goal and compromise quality in the process!
10/1/09, 10:14 AM
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