GM to sell Saturn to Penske

CNN ^ | June 5, 2009: 11:28 AM ET | David Goldman, CNNMoney.com staff writer

[Ernest_at_the_Beach]

Penske Automotive Group, owned by racecar legend Roger Penske, will buy GM's castoff brand.

NEW YORK (CNNMoney.com) -- Bankrupt automaker General Motors Corp. announced Friday that it will sell its Saturn unit to car dealership operator Penske Automotive Group.

Penske (PAG, Fortune 500) is owned by former race car driver Roger Penske, who owns NASCAR and IndyCar racing teams. The deal would give Penske the rights to the 19-year old brand, but GM would continue production of Saturn's three highest-selling models, including the Aura sedan, and the Vue and Outlook cross-over SUVs.

The deal, which GM expects to be completed in October, would save more than 13,000 jobs at Saturn and its roughly 350 dealers nationwide. All of Saturn's dealerships sell only Saturn vehicles, so they are reliant on the brand's continuation for their survival.

[Moby Grape]

“Some Saturns are, others are made at other GM plants. All are UAW, although at Saturn’s Spring Hill, TN plant, they have a special agreement that makes the plant more productive. I’ve toured the plant a number of times.”

My QC manager was in quaitly control in the automotive industry for some time. He said he toured ALL of the southern auto plants and found the all working hard, attentive to quality, etc with ONE EXCEPTION....the Saturn plant...union workers smoking and reading newspapers at their job stations.

[ex91B10]

On Friday, it’s announced that that deal is now subject to Chinese regulatory approval. Not quite done yet.

[Ernest_at_the_Beach]

Thanks for the info.

[Jagman]

I meant more productive compared to other GM plants, which granted, are among the least productive in the industry. If your boss was amazed at how lackadaisical Saturn workers are, he must not have toured many other GM plants.