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September 30, 2009

Penske to GM: No Deal on Saturn

Couldn't get Renault-Nissan on board.

Deal makes zero sense to me, why would Nissan dilute in the U.S.?

General Motors said today it would shut down Saturn after respected Detroit businessman Roger Penske shocked GM and 350 Saturn dealers by saying that his plans to buy the storied brand had fallen apart.

The announcement came a day before GM and its dealers expected the deal to be finalized. The failure could cost as many as 13,000 jobs at dealerships nationwide and GM.

The market for small fuel-efficient cars is only so large.

Until Obama gets done with it I mean.


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posted by Dave In Texas at 07:01 PM

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