Car Guy, Car Company

[genlock]

NEW YORK – General Motors Corp. has a tentative deal to sell its Saturn brand to former race car driver and dealership group owner Roger Penske, both companies said Friday.

Penske has signed a memorandum of understanding that would give his dealership chain, Penske Automotive Group, Saturn's 350 dealerships, the companies said. Penske told reporters that he expects to offer all the dealers new franchise agreements and will retain all 13,000 Saturn employees for the immediate term.

Neither Penske nor GM would say how much Penske is paying for the brand. Penske said he expects the deal to close in the third quarter.

Penske Automotive Group also distributes Daimler AG's Smart subcompacts in the U.S., but Smart has its own dealership network and Saturn dealers will continue to exclusively distribute Saturn vehicles, Penske said.

Initially, GM will continue to make cars for Saturn for two years, Penske said. But he also said he is in talks with manufacturers around the world about building Saturn cars in the future.

"We will be we'll be selling as many GM cars — a many GM-produced cars — under the Saturn brand as possible," Penske said.

Penske Automotive owns the second-largest U.S. automobile retail chain by sales. It also owns heavy-duty engine manufacturer Detroit Diesel and has race teams in the IndyCar, NASCAR and Grand-Am series.

[Big Media]

I would love to see this deal go through. I actually like the Saturn line better than Pontiac or Buick.

[cgarison]

I would love to see this deal go through. I actually like the Saturn line better than Pontiac or Buick.

But Penske is not going to import Opels like the current Saturn, but instead is going to sell Renault vehicles produced by Samsung motors.

The QM5 is the first vehicle to be imported by the new Saturn.

http://www.renault.com/en/Vehicules/Pag ... s-qm5.aspx

[Big Media]

Strange. I read somewhere that he intends to contract with GM to continue production of Saturn models TFN. He is planning to look elsewhere to potentially outsource production but is years off.

I though Renault was long gone. Who knew.

[The Interpreter]

Renault long gone? Hardly...in fact Mr. Ghosn runs both Renault and Nissan, and equally about as well...sigh.

GM making Saturns in the future? Probably not for long...especially since the plants in which they are built are slated for closing.

[Lester]

Not the first time GM would have had to move a Saturn factory though.

I love my 2004 Vue... even the VTi transmission. (Knock on wood.)

[The Interpreter]

Supposedly, under the terms of the agreement, GM agrees to supply Saturn with vehicles only until 2011.

[cgarison]

Supposedly, under the terms of the agreement, GM agrees to supply Saturn with vehicles only until 2011.

I am still smarting of that news. The sad part is that the Sky and Astra are still toast but the Outlook, Aura and Vue live.

[Bob Campbell]

You're all missing the really cool part. Saturns on the Nascar and IRL race tracks dude!

[cgarison]

I just came out of a meeting discussing system improvements on one of our multiple platforms at HEX. The lady who reviewed our implemtation that took place a year ago just came off a project at Penske where the motto was: "What ever Penske wants, Penske gets." I guess the same is true for the ownership of a car company as well.

Expect to see Saturn vehicles and motors on a race track near you much sooner than any of us dreamed.

And Penske's demand for better product just got us a bunch of new capabilities. I hereby salute Roger.

[AmpedNow]

Will they be considered an independent American car company?

I think this the wave of the future... With GM and Chrysler no longer dominant, we will see new upstarts popping up in the next few years. Combine that with the Chinese wanting into this market, the now-dominant Ford and Toyota will be squeezed even more.

On the upside, get ready for some crazy vehicle styling and designs... And lower prices.