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AutoBlog: REPORT: GM says it has 16 buyers interested in Saturn

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Filed under: GM, Saturn

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General Motors' bankruptcy filing is only a few days old, but the struggling automaker already seems to be pressing ahead full steam. The General has already announced 14 plant closings, 23,000 more job cuts, 1,300 dealer closings, and a buyer for the Hummer brand. Company CFO Ray Young told reporters at a recent conference call that GM has three buyers interested in Saab and an astonishing 16 suitors for the Saturn brand.

Saturn is likely appealing to investors because it has a right-sized, ready-made, stand alone group of dealerships with a stellar record for good customer service. The terms of any Saturn sale will likely include GM supplying vehicles in the short term until the new buyer can attract vehicles from other automakers. GM hasn't yet revealed any potential Saturn buyers, but names ranging from Roger Penske to Malcolm Bricklin have been discussed as candidates.

[source: Detroit Free Press]

REPORT: GM says it has 16 buyers interested in Saturn originally appeared on Autoblog on Wed, 03 Jun 2009 10:28:00 EST. Please see our terms for use of feeds.

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I believe I remember early discussions about this on here including a lot of "who in the world would want to buy Saturn anyway? Just kill it." comments...

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For the right price, I'd buy Saturn simply because I wouldn't have run it as stupidly has GM has recently.

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Maybe Magna can buy Saturn, that way they could supply it with Opel product. And buy SAAB for their upscale brand.

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Maybe Magna can buy Saturn, that way they could supply it with Opel product. And buy SAAB for their upscale brand.

:)

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:)

And name the organisation NAE Motors...North American European Motors, to cover their Canadian, US, and European assets. Given the strange times we are in, who knows? Maybe Magna could make work what GM couldn't.

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Well, I certainly would rather have a Sky than a Solstice for two reasons. A) Fewer of them on the road making it more exclusive; B) I like it more

The trouble is there's a multi-hundred kilometer drive to the nearest dealer. BOOO!

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saab already does well in russia. i can see part of this possibly being expanding saab manufacturing in russia if saab somehow has any ties remaining to opel. i.e. saabs will become reskinned opels. the new 9-5 is an eps2 product anyways.

the whole tie up in technology between good GM, saturn, opel, and saab still needs to happen IMO and is beneficial. I find it hard to believe either magna or saturn or even good new GM wants to be completely autonomous, because it pushes their costs of their platforms up.

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saab already does well in russia. i can see part of this possibly being expanding saab manufacturing in russia if saab somehow has any ties remaining to opel. i.e. saabs will become reskinned opels. the new 9-5 is an eps2 product anyways.

the whole tie up in technology between good GM, saturn, opel, and saab still needs to happen IMO and is beneficial. I find it hard to believe either magna or saturn or even good new GM wants to be completely autonomous, because it pushes their costs of their platforms up.

Yes, I would think going forward their will be platform, engine, and component sharing between any and all entities in this mix, because for one to develop such components stand-alone is far too cost prohibitive..

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Yes, I would think going forward their will be platform, engine, and component sharing between any and all entities in this mix, because for one to develop such components stand-alone is far too cost prohibitive..

That is part of the reason why GM retained 35% stakes in Opel and I personally think it will retain some stake in SAAB too.

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And name the organisation NAE Motors...North American European Motors, to cover their Canadian, US, and European assets. Given the strange times we are in, who knows? Maybe Magna could make work what GM couldn't.

Meh thats lame. They need to name it Canadian Motors.

... or Specific Motors.

Edited by Teh Ricer Civic!
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