Stop the Presses! GM May Sell Saturn. Still.
When GM banned TTAC from its press cars some thirty-five years ago, I told the local delivery guy not to fret (as if). After GM filed for C11, things would change. The warm winds of glasnost would sweep through the company’s corridors, opening the company’s corporate culture to outside criticism. A new era of openness and honesty would begin. Man did I get the munchies that day. Anyway, we shall see. Meanwhile, with 27 days left to go, TTAC’s not riding phat in no Pontiac and it’s the same old spinmeistery at RenCen. Here’s what I discovered in GM’s increasingly taciturn press site this morning:
DETROIT – General Motors is proceeding to the next step with respect to the sale of Saturn. A number of potential buyers have surfaced and expressed interest in the Saturn brand and retailer network. GM will be reviewing expressions of interest from the potential buyers and will look to secure an agreement with a specific buyer later this year. S.J. Girsky&Co. has been retained by GM as advisor for this transaction. Saturn will continue to keep its retailers updated on its progress throughout this process.
About Saturn:
More by Robert Farago
Comments
Join the conversation
Axel: I like this business model and the story will be fascinating as and if it plays out. I would be curious to see what the newly formed company will find to sell. Whether I would buy from them again is another question. Stu: one of the reasons I bought the ION was because the SL was sturdy and all work done on it at the dealer was done right the first time, every time, the car returned washed and ready to go. Their prices were reasonable and the work done in a timely and efficient fashion. What a concept: even the owner of a 10 year old SL1 was treated as if his patronage of the dealership was of value and worth cultivating. Hell, maybe one day I'd even buy a new car from them. And I did when my other, newer car was destroyed in a rear ender.A future TWAT Award winner but still treated as if I had made the best purchase of my life. So I guess it was less the product than it was the follow through. Who knows what lines they'll rep with an independent Saturn brand. And since I am done for good with GM, the bloody idiots, it would be worth a look when the time comes.
@ Axel: While I generally support (Or, at least in my dream world) what your saying, I disagree with you over one major statement. I do not believe that Saturn as a brand has any equity in a newly merged Fiat-ChyCo-Opel*. Saturn is associated with GM (Which is bad), Saturn is associated with cheap cars (Which is also bad) and Saturn is associated with America. Which is bad, and here's why. Saturn has been selling basically re-badged Opels for the past couple of years, in the 15-30k range. This is not like what you or DweezilSFV described in a Saturn. You say that GM killed the brand, but I tend to look at the situation in the opposite way- the Brand killed, well, itself. I believe the decision to re-import the Opel brand* as some sort of German VW would be in the best interests of the company. *This whole scenario is unlikely because Opel hearts Magna anyways, they've got no money, plus most old-timers remember Opel as not being the most reliable brand. But hell, sell small cars to the kids!
If I was in control of Fiat and Opel I'd let Saturn die. They can sell Opels and Fiat here under the Opel and Fiat names. No value left in the Saturn name. Plenty of empty factories that can be purchased if they wanted to set up production here. How do they know which employees are good employees and which employees they inherit were part of the problems that Saturn/GM had? Best of all no UAW connections so they can keep life simple. Beside the longer they wait the more former GM plants they can buy at cheaper prices. Saturn isn't going to get anymore expensive. Still maintain that if properly managed Fiat/Opel/Saab could sell alot of cars here. Not as part of GM though. GM could mess up a bowl of cereal. They do bad things to good products. Not sure what it is - either bad marketin, brand dilution, value removal in favor of profits, bad dealer network, or management that lives in another dimension from the rest of us.