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GM to Close Saturn as Sale to Penske Falls Through

RedAkston

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GM to Close Saturn as Sale to Penske Falls Through - Auto - FOXNews.com

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.

What a sad day for America. An upstart company put together in the mid 1980's who put out safe and economic cars has fallen by the wayside with the fallout of the GM debacle. Yet another company flushed out in this dire economic downturn.
 
I don't think Saturn has ever actually been profitable.
 
GM to Close Saturn as Sale to Penske Falls Through - Auto - FOXNews.com



What a sad day for America. An upstart company put together in the mid 1980's who put out safe and economic cars has fallen by the wayside with the fallout of the GM debacle. Yet another company flushed out in this dire economic downturn.

I just heard about this, and it really is too bad the deal with Penske fell through. I liked Saturn, and loved the concept of dealerships where to price on the sticker was the price you paid. I was hopeful of the deal going through, and not just because where I work made parts(and was looking at doing so again) for Saturn.
 
I don't think Saturn has ever actually been profitable.

Saturn first pulled a profit in 1993. I got curious so I looked it up: Saturn Returns to Full Output of Cars - The New York Times

Another interesting read on Saturn, that is barely a year and a half old, that shows how fast things have changed: Saturn is expected to be GM's growth brand - Automotive News

Saturn executives told dealers at the make meeting that General Motors expects its growth over the next five years to come from Saturn. Saturn's goal for 2008 is a slight increase in sales.
 
GM to Close Saturn as Sale to Penske Falls Through - Auto - FOXNews.com

What a sad day for America. An upstart company put together in the mid 1980's who put out safe and economic cars has fallen by the wayside with the fallout of the GM debacle. Yet another company flushed out in this dire economic downturn.

Another dumbassed decision by GM to compound the many dumbassed decisions they have made over the decades. I am stunned that this great little idea is going to be closed.

Hopefully, someone with some brains will see this upstart company for what it is and buy them. But I would not hold my breath in these dire economic times.
 
Many of Saturn's cars share platforms with other GM brands...the good cars aren't going anywhere, only the badging will change.
 
Saturn ceased to be what it was supposed to be some time ago. There was opportunity for something, but it was never fostered appropriately.
 
What a shame. I always wanted a Saturn. My brother is a mechanic and told me that the Saturn didn't break down near as much as other cars and it was a pretty safe vehicle.
 
I bought a brand new Saturn in 1997 and I still drive it. They are great cars that last unlike most American made crap. Boneheaded decision by GM.
 
Oh, I had '94 anniversary edition. Loaded. Loved it. But that was when it was still what it was supposed to be.

As soon as they started the cross-pollination with the rest of GM, the gig was up.
 
Oh, I had '94 anniversary edition. Loaded. Loved it. But that was when it was still what it was supposed to be.

As soon as they started the cross-pollination with the rest of GM, the gig was up.

GM has had the ability to turn the best things into pure **** for some time now.
 
The only GM I would ever drive. I have two. It's a sad day.
 
I bought a brand new Saturn in 1997 and I still drive it. They are great cars that last unlike most American made crap. Boneheaded decision by GM.

I bought a used 1999 Chevy Cavalier in 2001 and I still drive it. A knowledgable owner and a routine of standard maintenance does wonders for "American made crap."

BTW, like I stated above, your Saturn uses many of the same parts as other "crap" GM vehicles.
 
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I have a '99 Jimmy and it still runs like a beast, despite some cosmetic stuff needing done. However, it will need to be replaced soon, and I doubt I'll go with GM for that.

I also have a '06 Solstice; no issues so far, but I have less than 30K miles on it.

I think there's tremendous opportunity for a brand new American car company. Shed all the baggage of what's gone before and hit on what works.
 
The only GM I would ever drive. I have two. It's a sad day.

It was a high quality car and right up there in quality with the car made by the people who brought us Pearl Harbor LOL !!

Seriously Saturn made good cars.
 
I have a '99 Jimmy and it still runs like a beast, despite some cosmetic stuff needing done. However, it will need to be replaced soon, and I doubt I'll go with GM for that.

I also have a '06 Solstice; no issues so far, but I have less than 30K miles on it.

I think there's tremendous opportunity for a brand new American car company. Shed all the baggage of what's gone before and hit on what works.

I believe that the Saturn story will become a Saab story !! Or sob story ! Sorry I could not resist that !!!
 
I see this as a big win for the taxpayer. The Gm bailout was nothing more than a bailout of the UAW under the guise of flushing (laundering?) tarp money through an apparently legitimate business of national impotance. This means bailout money can go directly to union workers without them having to go through the motions of building cars giving the taxpayer more bang for the buck.
 
I see this as a big win for the taxpayer. The Gm bailout was nothing more than a bailout of the UAW under the guise of flushing (laundering?) tarp money through an apparently legitimate business of national impotance. This means bailout money can go directly to union workers without them having to go through the motions of building cars giving the taxpayer more bang for the buck.

Ya think that maybe the stockholders of GM stock were also bailed out just a little and the mangement except for the poor guy who got picked out of the car pool with his golden parachute!!
 
But. . .but the administration and the Unions keep holding up the Saturn brand as a sucess story. Well, I'm sure we can find some money to bail them out.
 
But. . .but the administration and the Unions keep holding up the Saturn brand as a sucess story. Well, I'm sure we can find some money to bail them out.

They where in alot of ways. It did not last. I linked to a story on the first page of this thread about how GM planned to base alot of it's growth in profits around Saturn as recently as feb of 2008.
 
GM shareholders were not bailed out:

The "new GM," is formed from the purchase of the desirable assets of "old GM" by an entity called "NGMCO Inc." via the bankruptcy process.[48] NGMCO Inc. was renamed to "General Motors Company" upon purchase of the assets and trade name from "old GM," with the claims of former stakeholders to be handled by the "Motors Liquidation Company."[49][50] The purchase was supported by $50 billion in U.S. Treasury loans, giving the U.S. government a 60.8% stake. The Queen of Canada, in right of both Canada and Ontario, holds 11.7% and the United Auto Workers, through its health-care trust (VEBA), holds a further 17.5%. The remaining 10% is held by unsecured creditors.[51] On July 10, 2009, GM reported 88,000 U.S. employees, and announced plans to reduce its U.S. workforce to 68,000 by the end of 2009 after filing for bankruptcy
 
I don't understand why so many people are mourning the loss of Saturn. GM needs to focus on the things it actually does well: Cadillac, Chevrolet, Buick, and GMC.

And honestly, Buick and GMC could probably be incorporated into Chevrolet.
 
GM shareholders were not bailed out:

The "new GM," is formed from the purchase of the desirable assets of "old GM" by an entity called "NGMCO Inc." via the bankruptcy process.[48] NGMCO Inc. was renamed to "General Motors Company" upon purchase of the assets and trade name from "old GM," with the claims of former stakeholders to be handled by the "Motors Liquidation Company."[49][50] The purchase was supported by $50 billion in U.S. Treasury loans, giving the U.S. government a 60.8% stake. The Queen of Canada, in right of both Canada and Ontario, holds 11.7% and the United Auto Workers, through its health-care trust (VEBA), holds a further 17.5%. The remaining 10% is held by unsecured creditors.[51] On July 10, 2009, GM reported 88,000 U.S. employees, and announced plans to reduce its U.S. workforce to 68,000 by the end of 2009 after filing for bankruptcy

Please link to sources you are quoting.
 
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