16 Suitors For Saturn, GM Says: Day After Filing For Bankruptcy, Automaker Also Sells Hummer Brand

CBS News / The Associated Press ^ | June 2, 2009

[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.

[taildragger]

Yes Magna has been a wantabee for eon's they finally get to build their car. Holden as far as I know has not been addressed in the bankruptcy. Have you heard?

Also Watch AU and NZ.

These countries are going gaseous for their cars and T.Boone has nothing to do with it :-)....

[TurtleUp]

I'll buy Ford, Japanese, or European, but not GM/Chrysler.

If obama makes it impossible for me to buy an acceptable new car, I'll buy used, no matter how old.

If obama makes a used car impossible, I'll buy another non-GM motor vehicle:

If obama makes that impossible, I'll buy something without a motor until we get rid of the socialist thug in our White House:

Or I may get something domestic that emits greenhouse gases and other organic materials from the tailpipe but is not made by UAW or Government Motors:

I will not buy from GM. obama may bow to foreign kings, but I will not bow to obama or to any socialist.

[rintense]

Subaru makes the most sense for Saturn since they don't have many models but have a very loyal customer base- which is pretty much just like Saturn. Subaru could also leverage the hybrid technology Saturn has.

The only appealing thing for Toyota in Saturn is customer base. And maybe the Sky. Toyota flopped with their sports coupe a few years ago. I'd like to see a cross between the VUE and the Highlander, then eliminate both previous models. The Aura, which is a fine car, could replace the Corolla. The Saturn Outlook is a big seller where I live but I'm not sure Toyota would want another SUV in their lineup.

Subaru just makes sense.

[Loyal Buckeye]

GM should have done this from the beginning.

Agree. A normal bankruptcy w/o government interference would have forced GM to sell some branks and skinny down the rest. That would have been the best result for the U.S. auto industry.

[rintense]

Interesting.

[erkyl]

I think this is pretty ironic. Back when GM had the chance, and had an effective electric car on the streets of California, (the EV-1) they chose to scrap (literally) the line and buy the Hummer brand. Given what we know now, isn’t it just possible that things would’ve been much different last year when we had $4+ gasoline if GM had been the leader in electric vehicle technology? Would they be bankrupt now? Probably not.

Lack of vision killed GM. And the UAW. Just sayin...

[nascarnation]

unfortunately no, and probably never will

luckily there are plenty around from an older era for us diehards

[taildragger]

Talked about it live on the Paul W. SMith Radio Show about a week ago. He ws up front, but it was so preliminary he gave no details.

What is not known was he was the chosen one at one point to be CEO at Chrysler in the late 80's or early 90's and he turned it down....

[Made In The USA]

I read this morning that what really sealed the deal for this new Hummer owner was the zero percent down for 60 months. A similar deal is availble for Saturn, but you have act fast!

[Paladin2]

Well, when I wuz a kid, my across the street neighbor was a Champion Spark Plug salesman and he used to screen the company NASCAR films in his garage for the local kids.

Fireball Roberts should be spinning, given that Pontiac is OUT.

[Venturer]

If 16 different people are interested in Saturn it should say to GM ,that they should probably keep it.

Nothing like selling off your little car and keeping the big ones when Obama boy has issued new cafe standards.

No wonder they are going broke.

[nascarnation]

I suspect he is.

Unfortunately the US auto companies became social institutions dedicated to the health and welfare of Democratic union members rather than robust competitors in the world auto market.

[SoDak]

We have a Saturn, and love the little beast, and will buy another if it’s new owners are a non-UAW shop.

[Boonie]

Rush has said that GM sold Hummer to China...

[Paladin2]

LOL, great effort at parsing with photos!

[JustSurrounded]

Same here. I've had 5 Chevy's and drive a Saturn. I plan to make Ford will be my next car unless they, too, go feed at the trough.

[Paladin2]

[Paladin2]

Solid rear view mirror mount.

[Myrddin]

Harleys are pretty. They are also very expensive to purchase and maintain. I opted for a Yamaha/Star Roadliner. Half the price. Better performance. Inexpensive to maintain. I recently learned that Toyota owns 52% of Yamaha, so it has a pretty solid company behind it has well. Apparently, Yamaha has been the engine maker for Toyota for many years. It simply made sense to take a majority ownership in a key supplier.

[gathersnomoss]

“without government intervention.”

Wanna bet?