GM says it has 16 buyers for Saturn

Posted: Jun 02, 2009
 Email 10 Comments

Earlier today GM confirmed that it has a buyer for Hummer. During a conference call with reports, GM CFO Ray Young told reporters that the automaker has 16 buyers interested in purchasing the Saturn brand.

16 is a lot more than the two we’ve been hearing of including the Penske Group and Telesto Ventures, an investment group that includes private equity firm Black Oak Partners LLC.

No word on whether if GM has received offers for it Pontiac Solstice or Saturn Sky business, which it said the automaker would be open to selling in a separate deal.

So far we’ve heard that Mitsubishi wants to supply Saturn dealers with vehicles after the contract with GM expires. Penske is looking to bring in vehicles from Renault Samsung Motors, which is owned 80.1 percent by Renault and 19.9 percent by Samsung.

- By: Kap Shah

Source: Free Press


Share |  Email  Print |




Subscribe & Connect

Connect with us on any of our social profiles below.

Subscribe to our e-mail newsletter to receive updates.

  • Chris

    Magna… just buy Saturn and turn them into Opel dealers! That's the best situation for everyone!

  • neil

    If 16 other brain trusts think Saturn is a viable car company

    Why does it need to be sold?

    Lets get rid of Opel and Saturn then have our biggest share holder mandate we make (smaller) more fuel efficient cars – DUH! Homer Simpson could run Government Motors better than this!

  • neil

    I don't doubt Magna if one of the 16 bidders

    I want Penske, so they can race Saturn's in NASCAR

    Imagine the entire Daytona 500 made up of Toyota's, Fiat's and Saturn's!!!!!!!

    The rednecks will love it!!!!

  • GMfan87

    haha that'd be horrible

  • kabluey

    I like Neil's idea the best, besides Opel has viable products and the Saturn network is properly dense enough for suitable competition. The network isn't overly extended, but it's not like owning a MINI.

  • Chris

    Magna… just buy Saturn and turn them into Opel dealers! That's the best situation for everyone!

  • neil

    If 16 other brain trusts think Saturn is a viable car company

    Why does it need to be sold?

    Lets get rid of Opel and Saturn then have our biggest share holder mandate we make (smaller) more fuel efficient cars – DUH! Homer Simpson could run Government Motors better than this!

  • neil

    I don't doubt Magna if one of the 16 bidders

    I want Penske, so they can race Saturn's in NASCAR

    Imagine the entire Daytona 500 made up of Toyota's, Fiat's and Saturn's!!!!!!!

    The rednecks will love it!!!!

  • GMfan87

    haha that'd be horrible

  • kabluey

    I like Neil's idea the best, besides Opel has viable products and the Saturn network is properly dense enough for suitable competition. The network isn't overly extended, but it's not like owning a MINI.