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Wilmington/ Penske

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Seems like the people from Penske may be coming to look at the plant. May want to build more kappas. Not tearing out any production equipment- everything is staying. Interesting...

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I know I sure would!

Esp. if they still had the yellow for the sky redline...

Chris

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www.nowayinhell.com?

While I am also skeptical for many reasons, there are a lot of things that have happened in the last 2 years, 1 year, heck, even the last several months that most of us would've said "no way in hell" about...

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The cost and complexity of running a plant, along with engineering the cars to be built in the plane is too much for Penske to take on, and I doubt they have the money to pay GM to do the grunt work for them.

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I guess it depends on how much backing/partnership support Penske has up his sleeve.

Penske is making money so far both 1/4's and beating expectations by 100% but still not a lot of money not like a manufacturer and his stock is ranked as a neutral hold.

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1) A lot of people underestimate Penske. The man has A LOT of money and even more financial backing. His NASCAR shop in Charlotte has marble floors for gods sake.

2) Just because he bought Wilmington doesn't mean the entire facility would have to crank out cars. Feasibly, although I'm not sure how Wilmington is physically set up, he could lease out the parts of the plant his organization doesn't need.

This peeks my interest a lot. I mean, I'm skeptical but Penske can NEVER be underestimated. God, what I'd give for him to acquire the rights to the Pontiac name. I'd be one step closer to putting GM behind me.

Edited by FUTURE_OF_GM
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You know when Penske bought Detroit Diesel, they took a company that was resting on its 2-cycle 92 series engines and bought and developed multiple new diesel engine tech and created the #1 diesel engine seller in the North American On-road market.

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1) A lot of people underestimate Penske. The man has A LOT of money and even more financial backing. His NASCAR shop in Charlotte has marble floors for gods sake.

2) Just because he bought Wilmington doesn't mean the entire facility would have to crank out cars. Feasibly, although I'm not sure how Wilmington is physically set up, he could lease out the parts of the plant his organization doesn't need.

This peeks my interest a lot. I mean, I'm skeptical but Penske can NEVER be underestimated. God, what I'd give for him to acquire the rights to the Pontiac name. I'd be one step closer to putting GM behind me.

He a shrewd business man and has a lot of cash & friends in the auto field but does he have THAT much backing to open the plant make only the Sky AND be profitable? But hell he may sell GM a version or 2 Imay get that Nomad yet :AH-HA_wink:

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Wilmington can build a LOT more than just the Kappas. It was a huge, underutilized plant. If Penske could pick it up on the cheap with one production line already functioning.......

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I guess it depends on how much backing/partnership support Penske has up his sleeve.

I wonder(ed) about that too.

Needing the savvy & the will to execute it. I believe that w/Roger's name & the right pitch it could happen.

And it's not as though they need to rush and develop that sprawling property to satisfy the demand for yet another mall.

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You know when Penske bought Detroit Diesel, they took a company that was resting on its 2-cycle 92 series engines and bought and developed multiple new diesel engine tech and created the #1 diesel engine seller in the North American On-road market.

Quite close in time frame but it was GM that designed the 8.2 L & the 60 series 4 stroke line. GM was needing cash AGAIN that's why they sold Detroit off and they weren't selling very many class 8's.

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1) A lot of people underestimate Penske. The man has A LOT of money and even more financial backing. His NASCAR shop in Charlotte has marble floors for gods sake.

Well. Outside of Charlotte a lot of places have marble floors.

Wilmington can build a LOT more than just the Kappas. It was a huge, underutilized plant. If Penske could pick it up on the cheap with one production line already functioning.......

How's land Rover doing? Don't know how "cheap" Chrysler was but how did that work out for Daimler?

In this industry especially it amazes me how someone can come in and think they can do such a better job then someone else.

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How's land Rover doing? Don't know how "cheap" Chrysler was but how did that work out for Daimler?

In this industry especially it amazes me how someone can come in and think they can do such a better job then someone else.

A neither a Penske Saturn nor the Wilmington plant have the baggage of the British Auto industry or the UAW.

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A neither a Penske Saturn nor the Wilmington plant have the baggage of the British Auto industry or the UAW.

That is most likely true but does not mean it's a good idea either. Guaranteed after all the numbers come in the cars produced off those lines would be well over

the price most working people could justify spending. Good or bad not for me to say but not where i would hitch my cart at this time.

(then=than)

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The more I think about it, the more I'd love to see it happen.

- Run the exisitng line as is for Sky.

- Utilize another portion of the plant to final assembly of knock-down kits from an import partner.

Grow from there.

Edited by Camino LS6
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Well. Outside of Charlotte a lot of places have marble floors.

And cue 'insider' to be a little bitch....

You missed the point entirely. :rolleyes:

(But, what else is new?)

It was meant as a joke.

(And yes, his entire NASCAR shop does have marble flooring if anyone was SERIOUSLY wondering :rolleyes:)

Edited by FUTURE_OF_GM
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Well. Outside of Charlotte a lot of places have marble floors.

How's land Rover doing? Don't know how "cheap" Chrysler was but how did that work out for Daimler?

In this industry especially it amazes me how someone can come in and think they can do such a better job then someone else.

Chrysler was actually doing well before Daimler bought it and gutted it.

To see how things started to go downhill, look no further than the cost cutting that later gen 2 LH cars suffered from. That was just the beginning of course.

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The biggest thing that makes me skeptical of this is that the big idea for Saturn has seemed to be that Penkse would isolate the company from the luggage of direct manufacturing costs, while capitalizing on manufacturers that already had to cover those costs, and added little more fixed cost to increase volume in existing manufacturing plants, aside from tooling to make the vehicles specific to Saturn (which would be almost zero if the cars are direct rebadges of those only currently available in other countries.)

Penske buying a manufacturing plant would attach Saturn to the manufacturing costs. Not to say that the game plan can't have changed, or there can't be some twist to it, but it's enough to keep me very skeptical.

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