The performance of his company hasn't been all that great.
I’d buy a Penske car before I’d ever buy a government car.
Will Saturn become Uranus?
best of luck to Penske in trying to revive Saturn which has always struggled. I had also heard, though I can’t confirm, that GM was loaning Penske a few billion to help int he purchase.
Unless Penske is looking to totally change the direction of the company, wipe the slate clean with newly designed and engineered cars, I don’t see this ending well.
If this comes to pass, I’ll be driving nothing but Fords or Saturns in the future.
Buying either a Ford or Saturn will be a vote for free capitalism.
Buying GM will be a vote for socialism.
The performance of his company hasn't been all that great.
How is he going to deal with CAFE regulations?
I realize Saturns tend to be smaller cars, but I think the ONE has a huge weapon to put any rivals out of business. Either you force your customers to buy cars they don’t want, or we will shut you down.
A company with a larger product line can be profitable making only a few luxury cars per year, and letting the price (and profits) soar to whatever the market will bear, while selling lots of little tiny cars under a different badge.
Smaller companies get frozen out of this scheme, it just isn’t feasible to make only a few thousand of a high end car.
"Our success has been with handling the business that is closest to the customer,“ Penske stated.
Penske will demand that Saturns will be well built, then his organization will take care of them and the customer.
A win - win brand of car to buy.
that's gonna make a whole lot of FReepers and Pravda loook pretty dim.
Saturn now on my buy list, beside Ford
Heh.
ping
In the process, it is believed that Penske’s acquisition will in the short-run save some 13,000 American jobs, and eventually create more.
It is hard to get a straight answer or at least one that is agreed upon across the board. 13,000 jobs via the Saturn brand and in the GM closing announcements it was mentioned some 25,000 total jobs lost. I know that Saturn doesn’t equal half of the GM losses.
That said any jobs that Penske can salvage will help the economy for sure.
Importing Korean cars and calling them Saturns? I’d buy a Hyundai first. The only benefit in this deal is to Roger Penske. That’s capitalism. But, another part of the capitalism deal is for Penske to convince me that buying a “Saturn” is a good choice.
Not likely to happen.
I say he buys up some of the wreckage at Chrysler too, especially some of their successful newer lines like the Challenger, and puts his own name on the new (non-union) company. I think he can figure out how to make cars people want to buy and can afford.
Please, does this even need to be mentioned? Obama has never in his entire life produced a nickel's worth of value. Every job he has ever held has been parasitic. He is unfit to run a lemonade stand, and everyone who ever has run any productive enterprise knows it.
I would buy cars from Roger.