Saturn Brand Has a Buyer: Penske Automotive, May Build Electric Cars

58 Responses to “Saturn Brand Has a Buyer: Penske Automotive, May Build Electric Cars”

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   Ash Says:
   June 5th, 2009 at 12:34 pm

   Are they going to continue the saturn view 2 mode Hybrid.

   Also, TATA are coming out with electric car by September http://profit.ndtv.com/2009/06/05082029/Tata-Motors-to-launch-electric.html  
   
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   Lee Says:
   June 5th, 2009 at 12:38 pm

   Yeah I’m #2
   Go Volt.  
   
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   Mike-o-Matic Says:
   June 5th, 2009 at 12:39 pm

   Dear Penske,

   Bring back the SL2!!!

   Sincerely, Mike-o-Matic
   —
   Sorry y’all, but they haven’t had a compact car as good since the late ’90s. Make mine a stick!!  
   
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   DonC Says:
   June 5th, 2009 at 12:40 pm

   This may turn out to be a good idea. Saturn has a good brand name, a respected dealer network, and some good product. All these things should help Penske.

   However, as I’ve said before, I’d really like to see GM consider producing cars on spec for companies like the new Penske, assuming the sale closes. GM has a ton of expertise in assembling, a supply chain, and excess manufacturing capacity. A company like Penske has none of these things but could bring fresh engineering and design to the table.

   For those concerned about the sale of the Hummer brand to a Chinese company, I would say that this has more potential to be either helpful or harmful.  
   
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   Schmeltz Says:
   June 5th, 2009 at 12:41 pm

   To further add to Ash’s question at #1, will the Plug-in Vue Hybrid that GM was working on be offered eventually?  
   
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   statik Says:
   June 5th, 2009 at 12:55 pm

   I’m feeling lazy, so I’m going to C&P thoughts on this from a older thread:
   ———

   I really don’t know what to say about it. It is not surprising it happened I guess, has been rumoUred (note Canadian ‘U’) for awhile.

   Great news for the Saturn employees/dealers (and GM in the short term), but does Penske really have deep enough pockets to make it work…in this environment, I dunno? (He does have a lot of coin)

   I’m pretty sure his deal with GM with have a ‘non-exclusivity’ clause right from 2010 on, meaning he can sell whatever the heck he wants, side by side with the existing Saturn models. I think that has to be his plan…to be some kind of portal for cars and manufacturers that can’t break into the US market, and translate that advantage into success.

   If it goes through, we certainly will see a new look Saturn, and I think a lot of ‘new’ (at least to NA) look cars…and probably some EV offerings at some point (BYD?).

   He is gutsy, I’ll give him that…and I hope he makes it. A open dealer base for a ‘general store’ of automakers is ia intriguing concept.

   #4 DonC: You come up with a number for the Volt’s MPC range yet?  
   
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   Eliezer Says:
   June 5th, 2009 at 1:03 pm

   The deconstruction of GM continues…

   Ponitac, Saturn, Hummer and Opel are now out of Gm’s hands, and Saab is on the way out. It’s good to see that the selloff is happening rather quickly.  
   
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   HyperMiler Says:
   June 5th, 2009 at 1:03 pm

   #4 DonC Says:
   > I’d really like to see GM consider producing cars on spec for companies like the new Penske

   Why would Penske bother with GM’s product when the replacement models coming in have Honda-level quality, better than Nissans and Hyundais??  
   
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   Jason M. Hendler Says:
   June 5th, 2009 at 1:08 pm

   Who says bankruptcy is bad? Like divorce, it allows better, more viable relationships to develop.  
   
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    statik Says:
    June 5th, 2009 at 1:17 pm

    #9 Jason M. Hendler said:

    Who says bankruptcy is bad? Like divorce, it allows better, more viable relationships to develop.

    ===================

    If they can maintain a relationship with Saturn…and Saturn/Penske can make a go of it, you are very right sir.

    This bankruptcy is doing a lot of ‘twirlly’ things for GM, this is one of them. (although Saturn would have been one of the ‘easier’ things to cut off/sell if they didn’t go into C11)  
    
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    BreatheEasy Says:
    June 5th, 2009 at 1:38 pm

    Outstanding! Sounds like a win – win for all involved.  
    
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    Fahrvergnugen Fanboy Says:
    June 5th, 2009 at 1:39 pm

    A guy who knows and likes cars calling the shots?

    Let’s hope it works out financially.  
    
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    Van Says:
    June 5th, 2009 at 1:39 pm

    Since Saturn was not profitable under the Old GM, this seems an effort to cash in on its good name with rebranded vehicles from Korea.
    Renault certainly does not have a good name, but maybe the Korean connection solved the reliability issues.  
    
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    Unni Says:
    June 5th, 2009 at 1:55 pm

    I not worried on Saturn has a buyer,

    My problems are

    1) Whether Saturn buyer will re introduce EV1 ( because it was Saturn EV1 not GM Ev1 )

    2) 2 mode Vue : Whatz going to happen to It. Do GM just gives dealer network and brand names or technology also.

    3) Not related to Saturn : Where is the Volt IVs . I believe now atleast 50 should be ready of the 100.  
    
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    Eletruk Says:
    June 5th, 2009 at 2:02 pm

    Hmm, OK so they are only buying the brand, not any of the manufacturing abilities. So they are still up to the whims of GM – meaning probably no hybrid Saturn Vue. But then again, since they own the brand, they can contract any other manufacturer to produce their vehicles. This will be interesting to see how it pans out.  
    
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    kent beuchert Says:
    June 5th, 2009 at 2:13 pm

    Finally we see that Saturn will escape the clutches of the UAW. Those 13000 jobs are 90% in the dealerships.  
    
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    solo Says:
    June 5th, 2009 at 2:29 pm

    I wonder if we will be able to buy a Saturn with a single seat, 4 open wheels, 1 inch ground clearance, and an Offy turbo engine! Ok just dreaming.

    In reality this could work out quite well. Saturn has a loyal customer base and some competitive (for now) products. G.M. says Saturn was never profitible but I bet G.M. will make a profit selling cars to Penske, the exact same cars they supposedly sold at a loss.

    I hope Penske can eventually turn the company into a car manufacturer instead of a car re-brander. In reality, this may be the best, and possibly the only way, to start a new car company in the U. S. because of all the laws associated with car building. Good luck to them.

    A company like Tesla might be able to go nationwide by teaming up with Penske. Lets face it, no matter how cool the car is, if you don’t live in California, you aren’t likely to buy one no matter how rich you are.  
    
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    Brian Says:
    June 5th, 2009 at 2:32 pm

    Better get to work on the penske file.  
    
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    Dan Petit Says:
    June 5th, 2009 at 2:54 pm

    Penske is an outstanding company with exceptional technical skill and managerial expertise. They would be exactly the necessary “shot in the arm” for Saturn, and, the wide-ranging affiliated connections that Penske has could accelerate Saturn out of the under performing category.

    I would be extremely interested to see Penske jump right in to the Voltec production effort. Additional technical efforts for Voltec are needed. This could happen from the very strong managerial expertise that Penske has for technical quality. This could help to widen the Voltec production capabilities more expeditiously.

    I hope that Voltec vehicle production would be one of the critical missions Penske would help to advance to increase production quantities of scale, and thus reduce costs for us all.

    Dan.  
    
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    jeff j Says:
    June 5th, 2009 at 3:18 pm

    Dan , I couldn’t have said it any better !!  
    
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    ccombs Says:
    June 5th, 2009 at 3:37 pm

    #14, I agree that Saturn should remake the EV1 with LI-ion batteries and 4 seats. It would be a novelty and sell a few, and they could keep the costs down by not making many changes to the original design. The low Cd design is cool and it will sell some at least here in CA. It will offer GM a chance to say that they are also making a pure EV.

    On second thought…this is my “cool cars” self talking. This makes limited sense. Ah well, I can dream.  
    
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    Stuart Says:
    June 5th, 2009 at 3:38 pm

    Penske offers great synergy with Saturn, it is a fantastic deal for all involved.

    I can see Penske using Saturn in the same way Costco uses “Cameron Hughes” for wine, Sears uses “Kenmore” for appliances, “Specialized” for bicycles, or originially in cars GM used “Geo” brand, as a generic container for multiple manufacturers to make their product.

    Penske understands that Saturn is a marketing concept based on many of the same principles which Penske uses in all his businesses, and who actually makes the product is immaterial. GM will no doubt be oneof these suppliers, very likely so after 2011 if Penske wants a Cadillac or Volt type vehicle in the line-up. And it is in GM and the UAW interest to make a good deal for Penske, and American is part of the appeal of Saturn. But yes probably the majority of vehicles will not be American in the future.

    This is a fantastic development, and shows the vision Penske has, and why he is a such a well respected businessman. I am amazed this concept has not happened earlier, it is the way nearly every other industry works, Manufacturing (supplier) and Marketing (retailer) independent of each other. Great move Captian!  
    
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    Jim I Says:
    June 5th, 2009 at 4:05 pm

    Unni #14 Said: “( because it was Saturn EV1 not GM Ev1 )”

    I think that technically, it was the GM EV1, but they used Saturn dealerships for service. There was no Saturn badge on the car.

    Here is a picture of a window sticker from an EV-1. It also just has GM on it.

    http://www.kingoftheroad.net/charge_across_america/graphics_for_Charge/photos/0bigdetails/stickerb.jpg

    I apologize if this starts up the whole WKTEC debate and brings back all those trolls again…..

    I hope Penske does well with Saturn!  
    
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    V=IR Says:
    June 5th, 2009 at 4:06 pm

    You’re not Penske material!  
    
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    GXT Says:
    June 5th, 2009 at 4:22 pm

    Interesting to think that GM may actually be responsible for electric cars becoming mainstream in the US…. not because of the Volt, but because of their CH11.  
    
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    Vincent Says:
    June 5th, 2009 at 4:23 pm

    Looks good for all involved and I am thrilled to see GM appearing to be on the right track.

    I am feeling rather frustrated that GM blew it….

    Reputable buyers seeing value in the purchase of these brands shows they have great potential.
    OK…time to move on…

    Congrats to all in the new venture and the Saturn Employees that earned a great buyer. I see the Saturn Logo next to the Penske logo carving out pavement on the race track already. Watch how fast that the new Saturn success takes off.

    Do Not Forget The CONVERJ Fritz!  
    
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    Mark Z Says:
    June 5th, 2009 at 4:54 pm

    Great news to save the Saturn brand and put it into the hands of a good company!  
    
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    CorvetteGuy Says:
    June 5th, 2009 at 4:57 pm

    Looks like the “Bad Parts” of GM weren’t so bad after all.  
    
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    George Says:
    June 5th, 2009 at 5:06 pm

    I just want to see a Saturn branded car run in Nascar or Indy!  
    
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    CS Guy Says:
    June 5th, 2009 at 6:36 pm

    I’m very happy to hear Saturn will not go completely under. Also, I hope the families spared from the unemployment line because of this will do well and have charity for those less fortunate. It is times like these when real Americans band together to help each other.  
    
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    Red HHR Says:
    June 5th, 2009 at 7:53 pm

    #1 Ash,

    I think you have something there with the Nano. Also the Mahindrna diesel Global pickup would round out the bottom of the scale.
    http://www.pitchengine.com/mahindraglobalvehicles/mahindra-vehicles-to-hit-us-auto-market-in-2009/11225/

    Now if they had something like the Airel Atom, Allard J2x MKII, and Aptera. (and that is only the new A’s! here in the second hand department we have the Aston, Avanti, and a Airel Squire square 4) now that would be a store worth browsing. To note, I took the wife to look at the new Camaro, and we almost bought an Avio…

    Cheers
    /I read in the WSJ secured GM bondholders received par value.  
    
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    an_outsider Says:
    June 5th, 2009 at 7:55 pm

    Imho, one of the best Saturn’s feature was the polymer body panels. My SW1 ‘95 still look good after 14 salty winter Bring this distinctive key feature back may help them to sell cars, especially if they carefully select which ones they want to sell. BEV and/or E-REV are welcome!

    Are all these 350 Saturn’s dealership US only or it includes CDN also?  
    
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    an_outsider Says:
    June 5th, 2009 at 8:18 pm

    Penske press release
    http://investors.penskeautomotive.com/releasedetail.cfm?ReleaseID=388275

    exclusive interview with Edmunds’ AutoObserver.com
    http://www.autoobserver.com/2009/06/penske-envisioning-saturn-as-a-global-motors.html  
    
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    Jackson Says:
    June 5th, 2009 at 8:32 pm

    #3:

    “Dear Penske,

    Bring back the SL2!!!

    Sincerely, Mike-o-Matic
    —
    Sorry y’all, but they haven’t had a compact car as good since the late ’90s. Make mine a stick!!”

    Fully seconded (I’m still driving my 2nd, which was the last model year).

    The only thing better would be a Saturn EREV!! (Or a Volt, I guess ).  
    
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    nataraj Says:
    June 5th, 2009 at 8:54 pm

    In other news …

    Plug-In Prius Coming This Year
    http://www.wired.com/autopia/2009/06/plug-in-prius/

    Ofcourse these are small numbers for fleets. Still ….  
    
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    Preseli Says:
    June 5th, 2009 at 10:00 pm

    In other news, Toyota has put its U.S. Prius plant on hold:

    http://www.manufacturing.net/article.aspx?id=201884

    Apparently, a plant to build hybrids is alot more expensive than a normal plant, and Toyota has concerns about the long-term viability of investing in the U.S. market.  
    
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    Dan Petit Says:
    June 5th, 2009 at 10:11 pm

    The Plug-in Prius in the above link #35, which was driven in Seattle got only 51 mpg, and that 51 mpg was blamed on driver habits.

    It was unclear if that fuel economy was the ICE only or a composite of EV range and ICE.

    It may be that the plug-in Prius is just there to be a marketing stimulus.

    I wonder what the other details are regarding only 51 mpg, and, as the story implied a “three digit mpg”, why is there such a large disparity?

    Perhaps test drivers wanted to see what acceleration it had, and the mileage dropped down for that sort of reason.

    Dan.  
    
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    LauraM Says:
    June 5th, 2009 at 10:52 pm

    #36 Preseli

    I doubt this has much to do with their concern about investing the US marketplace as much as worrying about pleasing the Japanese government. 5% unemployment is a crisis in Japan. And the Prius sells well as an import into the US marketplace.

    Also, if GM and Ford are gone (which they very well may be), they have no reason to build any more plants here. Its not like they save any money by doing so. And then there’s the problems with the US supply chain…  
    
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    koz Says:
    June 5th, 2009 at 11:48 pm

    Laura #38

    I don’t think there is likely chance of GM or Ford being completely gone in the near future, but reasonably priced cars with reaonable quality are on their way out. Better buy in the next 6 months if you want a deal. After that, those on a budget will be stuck with a Kia, Scion, Aveo, Chery, TATA, or the like.  
    
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    LauraM Says:
    June 6th, 2009 at 12:49 am

    #39 Koz

    GM is currently living on taxpayer money. The taxpayer funding is not going to last forever. At some point, the government will have to pull the plug on one or both companies. I’m hoping that by that point GM will be able to survive on its own. But there’s absolutely no guarantee of that.

    As for Ford, their liquidity situation isn’t that much better than GM’s a year ago. And GM’s bankruptcy will almost have to affect them in terms of the supply chain. I’m hoping that Mullally can pull off the turnaround, but the odds are against it. The government will probably try to save them too, but, again, taxpayer bailout funds are not unlimited.

    And the government has a knack for interfering where they shouldn’t. ( i.e. Barney Frank saving a GM dealership in his state.)

    http://online.wsj.com/article/SB124416281882387463.html

    And then there’s Washington’s refusal to take responsibility for their role in this mess, and (more importantly) do something to change the situation they created.

    http://online.wsj.com/article/SB124398447730679113.html

    So, at this point, I think there’s a strong possibility that neither company will make it in the long run. I don’t think its probable. But its a definite possibility.

    I agree that now’s the time to buy a car if you want a deal. The auto industry in general has a huge oversupply, and they’re correcting inventories accordingly.  
    
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    Saturn Brand Has a Buyer: Penske Automotive | GM-VOLT : Chevy Volt … | 2Dinternational.com Says:
    June 6th, 2009 at 3:11 am
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    Texas Says:
    June 6th, 2009 at 3:34 am

    Get the name, not the UAW? Build the cars with cheap labor in Korea? Make this a big push to EVs? Brilliant!  
    
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    Anthony BC Says:
    June 6th, 2009 at 5:27 am

    Two posts in a row with talk about more EVs!?!?! WAHOOO!

    Penske, bring back the Saturn EV1 !!!!

    GO EV !!!  
    
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    JEC Says:
    June 6th, 2009 at 7:01 am

    DonC

    I was anxiously awaiting your calculated MPC for the Volt also.

    Drop us a post ASAP please. I look forward to the figures! You know what they say about figures, right?

    Have a nice day!  
    
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    Joe Says:
    June 6th, 2009 at 7:05 am

    Schmeltz Says: @5

    “To further add to Ash’s question at #1, will the Plug-in Vue Hybrid that GM was working on be offered eventually?”

    ********************************************************************************

    Yes, with the Chevy bow tie stuck to it. Many don’t seem to understand that Saturn will become a competitor of GM. GM will not give them their best technologies that’s for sure.  
    
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    nasaman Says:
    June 6th, 2009 at 7:24 am

    Penske has said it plans to offer other Vue models, but I’ll buy a plug-in Vue with a bow tie if they don’t.

    Here are the reasons I’ll buy a plug-in Vue to park beside my Volt (or Ampera, if it’s available here)…..

    1) Vue seats 5 comfortably & can haul lots more stuff (inside, on top & behind) than the Volt

    2) Vue has the powerful CTS V-6 & can easily pull boats, travel trailers, etc (Volt? …not even the smallest U-haul trailer)

    3) Vue is projected to get 70-75mpg+ (vs Volt’s 100mpg+) — not bad!

    4) Vue design is a clone of the BMW X5 (by Opel’s German engrs/designers) & handles like a dream!

    5) Vue parts should always be available from Opel (if not from GM)

    6) Vue is truly a powerful, yet extremely energy efficient “do-everything” vehicle

    7) Owners LOVE the design & style (Vue outsold all other new Saturn models last year – COMBINED)!  
    
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    koz Says:
    June 6th, 2009 at 7:25 am

    LauraM #40

    Sounds like we pretty much agree, GM and Ford will most likely be around in the near term. Long term, even mid-term (4-7 yrs) to some degree, gets more iffy. There will continue to be a NAM market and it won’t be <10M SAR for much longer. Organic market is more like 14M. There is still a buy NAM croud. These brand die hards, patriots, and local economy supporters won’t go away (Hopefully their numbers grow in the current economic climate).

    “The auto industry in general has a huge oversupply, and they’re correcting inventories accordingly”

    I don’t know about current supply. With all of the plant idlings, closings, and other production cuts actually new car build rates are probably inline now or close to it. Sure, there is excess inventory on dealer lots of unwanted models but not so much for models that are selling. Idle plants and furloughs don’t count but plant closures, layoffs, and cuts in parts supply have already dramatically reduced capacity. The was necessary and is good to a point. My concern is that if the American brands are downsized to be reasonably profitable at 10M SAR, then the consumer will be paying through the nose at 14M. Correcting is fine and more important, but I am also concerned about overcorrecting.  
    
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    koz Says:
    June 6th, 2009 at 7:34 am

    The Saturn brand does still have good value and their image is positioned to take advantage of the NAM car market that will exist going forward. It is a shame GM did not (could not?) work them into the viability plan. Oh well…it’s gone now and time to move on. GM has a long, arduous trek ahead and must continue to press on.  
    
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    john1701a Says:
    June 6th, 2009 at 8:17 am

    The Plug-in Prius in the above link #35, which was driven in Seattle got only 51 mpg, and that 51 mpg was blamed on driver habits.

    It was unclear if that fuel economy was the ICE only or a composite of EV range and ICE.
    _____________________

    No, it was clear.

    They were not plugging those cars in.

    The cars were the old model too, not designed to support battery augmentation. The new model is. It’s also much more efficient. Even without a plug, mine is averaging 59 MPG. Check out Google’s mini-fleet. Their plug-in average is 93 MPG.  
    
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    nasaman Says:
    June 6th, 2009 at 8:20 am

    In their press release Roger Penske says, “Saturn has a passionate customer base and outstanding dealer network. For nearly 20 years Saturn has focused on treating the customer right. We share that philosophy, and we want to build on those strengths.”

    Roger is absolutely right! ….of the numerous domestic & imported brands I’ve owned, my Saturn ownership AND buying experiences have easily surpassed all the rest! I’m delighted Penske will be Saturn’s new owner!!! Just be sure to offer the plug-in Vue, Roger!   
    
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    Larry McFall Says:
    June 6th, 2009 at 9:43 am

    I am supprised but pleased that GM has been able to sell off vehicles they don’t need. We will see if Penski produces an Electric Vehicle, Possibly using VOLTEC.

    All said and done, I would like to see GM hussle up on the production of the VOLT and, I would like to see GM put more information out on the progress of the VOLT. This would give me confidence that they haven’t retreated into their self serving cocoon.

    Good luck to Penski and you just may take the lead in this Electric Vehicle Production Effort.  
    
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    statik Says:
    June 6th, 2009 at 10:02 am

    #50 nasaman said:

    In their press release Roger Penske says, “Saturn has a passionate customer base and outstanding dealer network. For nearly 20 years Saturn has focused on treating the customer right. We share that philosophy, and we want to build on those strengths.”

    Roger is absolutely right! ….of the numerous domestic & imported brands I’ve owned, my Saturn ownership AND buying experiences have easily surpassed all the rest! I’m delighted Penske will be Saturn’s new owner!!! Just be sure to offer the plug-in Vue, Roger!
    ==========================

    Gratz Nasaman…your plug-in Vue may yet live, hehe. At the very least you get to keep Saturn. (=  
    
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    teds Says:
    June 6th, 2009 at 10:52 am

    Saturn sold the EV1… So could buying the Saturn give you the right to build and sell the EV1 again?  
    
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    Betty McCool Says:
    June 6th, 2009 at 10:55 am

    Finally a car guy gets to run a car company. Looking forward to the electric Saturns. No doubt they will give the Volt some additional competition. Hopefully he will hook up with South Korea or China and turn Saturn into a real car company. Another division gets to survive from the death grip of GM.  
    
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    RIck Says:
    June 6th, 2009 at 10:58 am

    Yes, since the EV-1 was part of Saturn, Rojer get all rights to EV-1 technology and also most of Volt since a large part of the Volt is based on the legacy EV-1. Combine this gm tech with the advanced battery tech of South Korea and we have a winner here. Wooot.  
    
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    Lwesson Says:
    June 6th, 2009 at 10:59 am

    We own a SW2 and a Vue Hy-brid NOT MADE IN MEXICO, thank you. I was attracted by the Saturn effort to go back to the way GM used to make cars. Instead of sharing engines… Saturn had it’s own in house team of engineers, assembly plant and components… butttt GM in it’s infinite wisdom absorbed everything. Instead of Spring Hill, Tennessee as it’s base manufacturing plant and US workers the new Vue went to some Mexican plant. SHAME! Engines, gone to some generic GM power plant, and on and on so that the Saturn Motor Car Company was becoming just another GM car.

    Perhaps Penske remembers the concept and his home nation and peoples and will bring Saturn back to Tennessee, reassemble a team of gifted engineers and design artists and have a company named after the ringed planet that puts the GM overlords to further shame if that can be possible.

    Per Volt: There was likely an electric in the “oven” for Saturn. If I know the cult of Saturn owners, then Saturn is a perfect company to launch electrics from.

    I bet Penske is looking at this and other sites just like Chinese for information/feedback.

    Regards!——–Higgins  
    
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    ThombDbhomb Says:
    June 6th, 2009 at 12:35 pm

    Pwned!  
    
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    Adrian Says:
    June 8th, 2009 at 8:59 pm

    By far, the most exciting car news. A car company owned by a race car legend and not a CEO appointed by a socialist-fascist.  
    
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