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Saturn for Sale: A really 'different kind of car company'
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GM shot the moon, reached for the stars but in the end must sell Saturn. In a terse 83-word press release today, General Motors confirmed that Saturn is not only on the block but with “a number of potential buyers” expects that its “new kind of car company” will belong to someone else by the end of 2009.
For sale are the Saturn brand and retailer network, the sales side of the company. General Motors will retain all manufacturing facilities.
This comes as Chrysler is in negotiations with Fiat for a deal that will put the Italian auto builder in harness with the UAW in control of Chrysler and while rumors swirl about Fiat being in negotiations with General Motors to acquire GM’s German subsidiary Opel.GM had previously reported that Saturn was to become a retail wing, selling international brands rebadged and reconfigured for the North American mark. Manufacturing of its current products would continue until they reach the end of their normal lifecycles.
As such, Saturn was to become an empty vessel into which any of a number of makes or models could be poured. This plan has obviously been abandoned, at least for GM. All it held for General Motors was a bit of face-saving, but considering the new Saturn would be Wal-Mart Motors, it’s probably best for GM to salvage what cash it can get for its brand and make a clean break.
That said, it’s open to speculation about who would be interested in acquiring the brand and a dealer network, and that would be a company seeking a new entry into the North American market. Currently, that’s Chinese automakers—who would still have to make product that meets U.S. regulations and perhaps even more difficult, buyers’ expectations. Other possible suitors include Indian carmakers Mahindra & Mahindra and Tata, who would have the same challenges as the Japanese. Mahindra, which has expressed interest in selling automobiles in the U.S., already sells tractors and related vehicles here.At this point, however, the certainty is that Saturn will find a new orbit, and the different kind of car company, as the semi-autonomous General Motors division called itself in more halcyon days, will truly be a different kind of car company.
Illustrations, top to bottom: 2008 Saturn Sky Redline, 2009 Saturn Vue 2-Mode Hybrid, 2009 Saturn Aura XR 4-cylinder. All photos by John Matras.
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