Skip to comments.16 Suitors For Saturn, GM Says: Day After Filing For Bankruptcy, Automaker Also Sells Hummer Brand
Posted on 06/02/2009 9:43:44 AM PDT by 2ndDivisionVet
General Motors Corp. says it has 16 buyers interested in purchasing its Saturn brand, while three parties are interested in the Swedish Saab brand.
Company CFO Ray Young told reporters and industry analysts on a conference call that GM is continuing to pursue manufacturing agreements with a new Saturn buyer.
Bridge loan discussions with the Swedish government are progressing, Young said.
He and CEO Fritz Henderson are hosting the call.
Earlier, GM had said it has a tentative deal to sell its Hummer brand. Young said the company is not prepared to identify the buyer because both sides are still working through sale documents.
(Excerpt) Read more at cbsnews.com ...
The Vultures have landed to eat the carcass
I’m sad. I’ve been a Saturn devotee since back in the day.
Sad? You should be glad that some other company will be able to continue the brand without government intervention.
One sits in the driveway now...
I drive a Ford - and will continue to drive Fords until they are nationalized as well. At that point, I will buy japanese or ride my motorcycle full time. I will not own another GM or Chrysler product....red
I could see Subaru or Toyota buying Saturn. I can also see Mitsubishi buying Pontiac. They would pretty much corner the 18-29 market.
GM should have done this from the beginning..
If I’m understanding this correctly, Saturn will NOT be a GM company once it’s sold off. If the new owners continue to produce the same quality of vehicle, it is still a viable option for you as a car buyer, isn’t it? I sort of see where the “new GM” may be selling off the brands which had the best prospects? Saturn has some pretty neat cars.
Obama is NOT buying.... he is selling... selling american companies to other countries. He is destroying America’s wealth.
To do so would just encourage this government to take over more private businesses.
Me too. We’ve bought 3 in the past 15 years - my husband’s job entails a lot of driving so he’s abused 2 pretty well. Love them mostly for the purchase experience - the price is the price is the price - and their subsequent customer service. I HATE dealing with salesmen.
I think you are right.. Something GM should have done sometime ago..
I thought Pontiac was slated to be killed off as a brand. It would be neat if Mitsu were to buy it. Maybe then Mitsu could start putting engines in their cars that don’t burn oil after only 60,000 miles. And you’re right that between the Lancer Evo and the Trans Am, Mitsu would pretty much own the 18-29 market.
Hang in there.
I’ve still got my 97 coupe with 140,000 miles and going strong and the plastic body looking nearly new.
Under new leadership and outside of govt control, Saturn may well prosper in the future.
Any Sat fans who aren’t aware, great owners forum at saturnfans.com
Car Racing, and Business Titan with the Midas Touch..
I think Magna International (Canada - Stronach family & friends of Clinton) are buying Opel. A lot of the Saturn stuff is Opel.
I just saw a Pontiac G8 Exp (drool). Made by Aussies at Holden (GM Australia) and not UAW scum.
The GTO is the Holden Montaro and the G8 is the 4 door version. The G8 Exp in white I just saw was really nice. It is the first one I ever saw. Sad about GM but I hate UAW scum.
Does Saturn support one of those carbureted V-8, rear wheel drive, 4-speed manual, solid rear wheel axled, funny cars?