Renault interested in Saturn - DodgeIntrepid.Net Forums - Dodge Intrepid, Concorde, 300m and Eagle Vision chat
LinkBack Thread Tools Rate Thread Display Modes
post #1 of 1 (permalink) Old 05-08-2009, 12:00 PM Thread Starter

Join Date: Oct 2008
Posts: 336
Feedback: 0 / 0%
Post Renault interested in Saturn

There is a growing list of potential Saturn suitors that includes Detroit auto tycoon Roger Penske, who is interested in tapping the brand’s dealer network and possibly finding a foreign manufacturer to make new vehicles.

Penske and Saturn may join a venture with Nissan Motor Co., the Japanese affiliate of Renault, Bloomberg News reported Wednesday.

“I can’t provide any speculation on who a potential OEM partner could be,” Saturn spokesman Steve Janisse said. “There have been a number of meetings with potential partners, but it’s really going to be up to the eventual buyer who they want to partner with to provide product for the future of Saturn.”

Other suitors include an Ohio investment group that wants to build vehicles using union workers at U.S. factories targeted for closure by the Detroit automaker. The group, headed by Ohio auto industry worker Gary Marvicsin, met with Saturn officials Tuesday.

Another group, Telesto Ventures, wants to partner with a foreign manufacturer and import vehicles under the Saturn name.

The group, which includes Oklahoma City-based private equity firm Black Oak Partners LLC and several Saturn dealers, submitted a proposal last month, terms of which were not made public. Telesto proposes initially distributing GM-built vehicles through Saturn’s 400 dealerships in North America and eventually offering small, fuel-efficient vehicles produced by several manufacturers, most of which would be sold under the Saturn brand.

Meanwhile, Hong Kong-based carmaker Geely Automobile Holdings has submitted a bid for Saab, according to the Wall Street Journal.

GM, subsisting on $15.4 billion in federal aid, is trying to sell or phase out Saab, Saturn, Pontiac and Hummer as part of its broad restructuring.

A Geely spokeswoman could not be reached for comment today.

Auto Reporter is offline  
Sponsored Links

Quick Reply

Register Now

In order to be able to post messages on the DodgeIntrepid.Net Forums - Dodge Intrepid, Concorde, 300m and Eagle Vision chat forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

Member names may only be composed of alpha-numeric characters. (A-Z and 0-9)

!!ATTENTION ADVERTISERS!! If you intend on advertising anything on this forum, whatsoever, you are required to first contact us here . Additionaly, we do NOT allow BUSINESS NAMES unless you are an Authorized Vendor. If you own a business, and want to do sales on this site via posting or private message, you will need to follow the rules. Shops, Stores, Distributors, Group Buys without being authorized will see your account terminated.

User Name:
Please enter a password for your user account. Note that passwords are case-sensitive.


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:


Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

For the best viewing experience please update your browser to Google Chrome