JupiterSunsation
New member
GM announced they are pulling the plug AKA the old Dr. Kevorkian move.
Penske didn't buy it as planned and they are done.
Penske didn't buy it as planned and they are done.
Headlines
Bye Bye Saturn.......
- Thread starter JupiterSunsation
- Start date
Where did that info come from? I havent seen that yet? Too bad. Guy down the street from me spend 3mil on a new store within the last three years or so.
MattBMiller
New member
Heard that today as well... 
Don't think that's a good move.
Don't think that's a good move.
Magic Medicine
New member
Thats too bad! We just bought a Vue at the sale yesterday, probably not a good move!
JupiterSunsation
New member
STAFF AND WIRE REPORTS
Published: October 1, 2009
General Motors Co. said yesterday that it would shut down its Saturn division after an agreement to sell it to Penske Automotive Group Inc. fell apart.
"This is a major disappointment. It's discouraging," said Haywood "Huddy" Hyman Jr., owner of Saturn of Richmond on Midlothian Turnpike in Chesterfield County.
Hyman was one of about 400 Saturn dealers notified yesterday afternoon that his dealership would close after the Bloomfield, Mich., dealership group headed by auto-racing magnate Roger Penske was unable to find a manufacturer to supply vehicles to it after a contract with GM runs out in 2011.
Hyman said yesterday that it was too early to know what would happen next.
"I just don't know right now," he said.
Hyman was among the first auto dealers in the nation to sell Saturn in 1990 when GM launched the brand built in Spring Hill, Tenn.
Late last year, he closed a Saturn store in Henrico County, consolidating operations.
He also owns a Land Rover dealership and two used-car sales operations in the area.
A tentative GM-Penske deal for Saturn was announced June 5. Penske was to get Saturn's 371 dealers and promised to retain the 13,000 Saturn employees. The proposed price was never disclosed.
There are 13 Saturn dealers in Virginia.
Closing the dealers hits the state hard. In the past two years, Virginia has lost about 50 dealerships, six of them in the Richmond area, according to the Virginia Automobile Dealers Association.
That number will jump again as GM finishes winding down dealers by October 2010.
GM CEO Fritz Henderson said in a statement that Saturn and its dealership network will be phased out.
"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," Henderson said. Penske's announcement "explained that their decision was not based on interactions with GM or Saturn retailers."
GM had agreed to keep building the Saturn Aura, Outlook and Vue models through 2011. After that, Saturn would have had to come up with its own products.
Without another supplier in place before the deal was signed, Penske couldn't run the risk of taking on Saturn, Penske spokesman Anthony Pordon said.
"I'm truly shocked by this," said George Hoffer, a Virginia Commonwealth University economics professor specializing in the auto industry. "It would appear that this is a lose-lose situation for everyone."
Hoffer said the biggest losers are the dealers "who are getting thrown out on the street" and GM, which was counting on producing about 750,000 units over three years for Penske.
Hoffer said another potential victim is Goochland County-based CarMax Inc.
"You have this major entry now for dealers to set up used-car lots," he said.
Hyman sells used cars at the former Saturn store in Henrico and at a former Saturn used-car operation on Midlothian Turnpike.
Hoffer said the failure of Saturn illustrates how difficult it is to launch an auto line. The last successful long-term startup was Mercury in 1939, he said.
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JupiterSunsation
New member
It won't matter much. The cars are fine whether or not the manufacturer throws in the towel. If GM said they would close tommorow I wouldn't hesistate to buy one today. I believe in the product 100%
Sunsation96
Charter Member
Don't worry Andy I bought a new G8 Pontiac and then one week later BAM we are getting rid of Pontiac. It sucks ans Saturn is 110% better than ever.
Wrinkleface
Founding Member
Yeah, he is a jack-off of all trades, right??????
Always thought Saturn was a nice line! had a SL2 back in 93!! nice ride 4 the cost!! Great service at the dealership!!
Expensive Date
New member
Had a Saturn dealership that I sell tools to close last week due to other reasons.Three of the guys went to another Saturn dealership no that will be closing.They lost there job twice in less than a week.
But we will be getting the 2016 Olympics in Chicago so I guess its worth it.
But we will be getting the 2016 Olympics in Chicago so I guess its worth it.
HiZ
New member
This is true, Saturn just required all new signage and dealer posting withing the dealerships the last 9 months. Nice Generally Motored
And yes, it IS lights Out!
JupiterSunsation
New member
Boring cars....... Most of their platforms/powertrains were shared with Pontiac so when the General killed the Pontiac, Saturn was a car company without a plant to build them. Penske was going to takeover the dealer/sales side of the business but couldn't get anyone to build the cars.
The fixed price sales might have been a stumbling block but Scion is still using it. The designs, reliability seemed to be ok. I think they were just building average, unmemorable vehicles.
Ratickle
Founding Member / Super Moderator
I think he needs to re-visit his history. There have been multiple new auto lines started since 1939. Just not in the US.......
Ratickle
Founding Member / Super Moderator
I was thinking they may get Honda to manufacture for them because of the shared engines etc., but we screwed that up. Why would they when they can eleiminate a competitior with the assist from our government. Remember, Saturn is non-union so there was no incentive for Obama to assist in any way....
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