GM says it has 16 buyers for Saturn

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