FOR RELEASE: 2009-09-30

CONTACTS

General Motors Media Statement Attributed To President & CEO Fritz Henderson









Today we learned that Penske Automotive Group (PAG) has decided to terminate discussions with General Motors to acquire Saturn. This is very disappointing news and comes after months of hard work by hundreds of dedicated employees and Saturn retailers who tried to make the new Saturn a reality. PAG’s announcement explained that their decision was not based on interactions with GM or Saturn retailers; rather it was because of the inability to source new products beyond what it had asked GM to build on contract.

As a result of PAG’s decision, we will be winding down the Saturn brand and dealership network, in accordance with the wind-down agreements that Saturn dealers recently signed with GM. Pursuant to the terms of those agreements, the wind down process will be determined and communicated shortly.

Saturn customers and owners will continue to be able to purchase and have their vehicles serviced at Saturn retailers during this process. Once the wind down is complete, Saturn owners will still be able to have their vehicles serviced at other GM dealerships. We will be communicating with our customers very soon to explain the next steps in this process.

Today’s disappointing news comes at a time when we’d hoped for a successful launch of the Saturn brand into a new chapter. We will be working closely with our dealers to ensure Saturn customers are cared for as we transition them to other GM dealers in the months ahead. I’d also like to thank every GM employee and Saturn retailer who worked so hard to try to make this new beginning happen for Saturn.


CONTACT(S):

 

Hmm, so what's going to happen with Jill Lumberjack (sp? ) now that the imminent Penske announcement Josh described is not going to happen?

https://www.camaroz28.com/forums/sho...d.php?t=713431

 

Well, as I said. Jill has asked for an early retirement from GM. She's gone.

As for the imminent deal - I was not the first, second, or last person to say a deal was imminent. Everyone of my contacts at Saturn pointed to Thursday as THE day a deal was to be done.

They are just as surprised as this (if not more so) than you and I and the rest of the automotive world. Nobody, not one person as of early this morning saw this coming.

But hey, here's one for you. "Saturn Outlook OFFICIALLY Cancelled!"

 

I knew the product (lack of) was going to be an issue. Or rather, i feared an onslaught of freaking Chinese-made econo-cars wearing the Saturn badge (without which, the lack of product would be an issue) after the GM-sourced pipeline dried up. What were they going to do, hit up Honda for a Civic to call the Astra, and a Nissan Altima to be the next Aura?

This sucks. Just as Saturn had some solid product offerings and a cohesive design language (albeit shared with Opel), they go bye bye.

 

Saturn's market got destroyed by Honda in the late 80's & 90's i'm surprised they lasted as long as they did.

 

In all honesty, Saturn didn't have anything of substance that couldn't be had elsewhere. The only thing I'll miss is the styling on the Sky over the Solstice, but we were losing both of those all along, so that's a wash anyway.

 

I never thought this was going to work. Especially once Saturn became more integrated into GM.

 

Not sure why but I really wanted to this brand succeed , I thought the Opel connection would seal the deal until I realized the Opel connection was mearly cosmetic except for the Astra. Guess its pretty much been a downward spiral since Saturn lost the original formula and became rebadged GM products . Downward spiral is reffering only to sales and perception . I worked for Saturn in back when it was only the s-series , we sold alot of cars back then .

 

I was expecting European cars that weren't available here, e.g. Citroens and Peugots.

But, on the bright side, it's one less competitor to take sales from GM. And with Penske at the helm, you know it would have been a damn good competitor.

 

I think the connection was more than cosmetic. The Sky, the Astra, and the Vue were sold both as Opels and Saturns. And the Aura and Vectra were closely related.

 

I thought Saturn was owned by Motors Liquidation Company, i.e. the old GM Corp.

 

You get a point from me for that one, Josh.

 

Interesting. GM created Saturn as an import fighter back in the day.

Little did they know they could put a little elbow grease into their existing brands and make cars just as good, or better. Enter Chevrolet/Buick in 2009.

Aside from it's wacky snap-on body panel technology, I never understood the Saturn brand or its direction. It's sad to see another piece of GM disappear, but maybe it's for the better?

If I was a Saturn owner, I'd be "sour grapes" over the whole thing.

 

so, is this gonna make the price drop on Ions or???

 

What are you talking about, late 1990's is when Saturn thrived. I think it was the Ion that killed Saturn.