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CarsProfile.com Saturn
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GM will terminate Saturn and its dealers
 Sad news from the car industry, GM, the U.S. maker announced through Fritz Henderson, its CEO that the ultimate decision here, about terminate both Saturn and its network of dealership has been finally taken. Henderson said the decision was made because Penske Automotive - the ex Saturn suitor decided to stop all the discussions involving the acquisition. Here are excerpts from the announcement made by Henderson. 'As a result of PAG’s decision, we will be winding down the Saturn brand and dealership network, in accordance with the wind-down agreements that Saturn dealers recently signed with GM. Pursuant to the terms of those agreements, the wind ...
Tags: closure, penske, dealer, saturn, gm, termination
Chevy is in need of being General Motors
 As you know, Chevrolet is really one of the 4 four core brand names of GM and, playing a vital role in the strategy of the global market of the American-based ex bankrupt carmaker. Brent Dewar, named vice president of Chevrolet Global just after GM emerged itself from bankruptcy, believes Chevrolet 'needs to be the General Motors Company' as he stated on the Auto Observer.com interview.Fritz Henderson - GM's CEO admitted Chevy is a quite important brandname and this particular firm must replace now both Saturn and Pontiac.Henderson affirmed 'Buick, Cadillac and GM play a critically important role, but in terms of driving share, it ...
Tags: chevy, brent-dewar, chevrolet, vice-president, gm, pontiac, saturn
Penske is pulling out of Saturn agreement, GM terminates the brand; Renault-Nissan possibly Penske`s partner
 The new owner of Saturn - Penske Automotive Group, decided pulling out of all the running negotiations. Saturn will unfortunately be discontinued, says GM official statement.A few sources hinted curiously that the agreement was supposed to be finished up by this week, meaning that Saturn will live under the protective umbrella of Penske. The American group's reason to terminate the negotiations is 'because of the inability to source new products beyond what it had asked GM to build on contract'.Saturn's plans of Penske depends on getting another builder to make future car — a critical piece of the puzzle that fell apart immediately when ...
Tags: penske, saturn, gm, renault, nissan, agreement, p-a-g, oem
Buick Vue cancelled
 General Motors has announced that the Buick Vue compact SUV has been cancelled. This shocking decision comes only two weeks after the announced rebirth of the Saturn Vue under the Buick nametag, that was said that could possibly offered as a plug-in hybrid too. Tom Stephens, Vice Chairman of General Motors, used the official blog of the company to make this shocking announcement. The reason for which the Vue was killed is quite amazing. In the official statement, Tom Stephens said that the negative feedback regarding the car coming from potential customers, dealers, media, car analysts and even own employees have ...
Tags: vue, cancelled, feedback, saturn, buick, gm
General Motors: Plug-in SUV arriving in 2011, the all-electric auto may be already in the works
 Even if GM scrapped Saturn and plug-in hybrid Saturn Vue along with it, Tom Stephens Vice Chairman of GM says that a SUV plug-in is now on track, ready for 2011.Stephens stated in a Reuters interview 'I can tell you that I won’t lose one day in terms of customers being able to walk into dealerships and actually purchase a plug-in'.Stephens affirmed that General Motors could debut also an small all-electric auto for cities. This move marks the come back to a high tech that General Motors dropped once in 2003 having the EV1 battery-powered in California.Stephens said 'I think there’s pent-up demand for the ...
Tags: gm, suv, plug-in, 2011, electric. hybrid, green, industry, news
GM is confirming the plan of making new small auto in Michigan
 GM issued a statement the confirms the rumored plans of assembling a future small auto – likely Chevrolet Spark based – at the Orion Township, in Michigan, which is an assembly factory. General Motors says this: between that assembly factory and a stamping one, nearby, it will be preventing the cut of 1,400 jobs.'Small cars represent one of the fastest-growing segments in both the U.S. and around the world' stated Troy Clarke, the president at GM North America. 'GM will be the only automaker, foreign or domestic, to build small cars in the U.S . , and we believe Orion Assembly and Pontiac Stamping are ...
Tags: gm, small, michigan
Koenigsegg - the Saab buyer
 Reports 1st surfaced about the interest Koenigsegg has in GM's Saab department last month, having the newest info indicating the supercar maker from Sweden has sealed the contract for the General Motors cast-off brand name. Koenigsegg and some investors from Norway were among a 3 bidding group for the Saab name.Sweden's SVT reported that Koenigsegg inked an intent letter to aquire the Saab department from GM. 'The buyers have signed a letter of intent to buy Saab' 'Final negotiations about details on the deal will go on in the next months'.Saab and GM representatives haven't confirm this report yet. Both GM and Saab have ...
Tags: koenigsegg, saab, bid, hummer, saturn, gm, svt
GM contract prevents Magna from selling the Opels in America, China
 Magna International inked a contract recently to buy Opel from GM, but the agreement terms will prevent the parts supplier (Canadian) from selling the Opel cars in 2 of the largest auto markets in the world.Automotive News says GM’s Magna agreement is preventing Magna from selling the Opel auto in China and the United States. 'The agreement with General Motors does prevent us from selling Opel in the United States' Frank Stronach - Magna founder stated.Stronach added this agreement blocks Magna also from bringing Opels in the Chinese territory, but hinted that the contract might not be for a long-term there. 'If it makes economic ...
Tags: gm, magna, sell, opel, america, us, china
Dealers, from private equity company teaming up for buying Saturn
 The fate of Saturn might not be totally sealed yet. News is coming out from Detroit: Black Oak Partners LLC Oklahoma City-based, a private equity company, plus undisclosed Saturn dealers number made the offer previous week, for purchasing the brand name from present owner GM.Black Oak Partners just issued a statement saying it's awaiting some organized meeting involving the Detroit executives of GM. This plan of the group would be selling GM-made and created Saturn units initially before the turn out of this brand to more efficient, smaller autos from global carmakers. The private equity company would form: 'Saturn Distribution Company' that would be focusing ...
Tags: saturn, dealer, private, equity, team, buy, gm
GM dealers slowing down orders - brands' uncertainty
 GM’ Saturn, Saab and Hummer brands are not dead yet, but a few dealers are now curtailing car orders like they were. Showroom traffic is slowed now to some trickled since General Motors announced the 3 brand names were up there for 'strategic review' giving Hummer, Saab and Saturn dealers small incentive for ordering new autos.The sales in February were quite dismal for all 3 brand names, having Saturn posting in the best month - a 57 % decline in sales. Saab and Hummer saw sales dip being 62 and 68 %, in February. So, many dealers stopped all car orders. Stocked auto inventories are ...
Tags: gm, general motors, saab, saturn, hummer, slow, order
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