The Wall Street Journal is reporting today that megadealer Roger Penske is one possible buyer for the Saturn brand. Both Penske and GM declined to comment.
There was no speculation in the report about what Penske would do with Saturn, but Penske does sell the Smart ForTwo through a small network of dealers now. Maybe he's looking for a broader distribution network in anticipation of bigger sales numbers down the road.
Update: This is the official statement from Penske regarding Saturn inquires.
"Regarding our involvement with Saturn, we confirm that we have an interest in looking at future opportunities with the Saturn brand. Penske Automotive has not made a proposal to General Motors for this business and the time frame involved is extremely tight.
Penske Automotive buys and sells dealerships as part of our normal operations; we have experience in the distribution business and are constantly looking for opportunities to grow our business and further diversify our overall operations."
WSJ: Roger Penske Is Possible Buyer for Saturn Unit
estreka says:
08:52 AM, 05/ 5/09
I'm not investing in whomever ends up with Saturn. It may have a decent lineup right now, but what about in 3 years? There is NOTHING in the works.
jackson611 says:
11:54 AM, 05/ 5/09
^^^^^
That's why Penske would buy Saturn. He could turn it into a brand that sells cars with true racing technology. An American Ferrari.
If that happened that would be one of the greatest corporate turnarounds in American history.
brn says:
12:22 PM, 05/ 5/09
Penske is well known for racing, but they're much larger in automotive dealerships (their web site shows 371 dealerships). If they buy Saturn, it's probably not to turn it into a racing brand. Because Penske has relationships with so many brands, they might be in an interesting position to source from those brands and use the Saturn name. It's all pretty unknown and I'm not sure what to think about such a relationship.