According to Edmunds sources, at this moment only a couple thousand Saturn and Pontiac vehicles remain in General Motors' inventory. More precisely at this moment there are 796 Pontiacs and 916 Saturns at the GM’s inventory.
From May to December 09, Gm succeeded to sell 70083 Pontiacs and 31713 Saturns, almost 98 percent of total inventory. Inventories for the combined four non productive brands ( Pontiac, Saturn, Saab, Hummer ) totaled 5,123 units at December month-end, representing a 95 percent decrease compared to the end of May 2009 (112,141 units).
May 2009
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A $250 million grant from the American Recovery and Reinvestment Act (ARRA), could easily resolve the late breaking issues that prompted the unexpected, last minute collapse of the proposed Penske Automotive Group (PAG) purchase of Saturn, according to Todd Ingersoll, Saturn's Retailer Council member.
"This is well within the parameters of grants already made through the Act, and will save 13,000 jobs, avoid the closure of 350 Saturn dealerships, and preserve millions in tax revenue," says Ingersoll. "The Act has millions of dollars allocated for energy projects, including electric vehicle technologies, ...
Detroit media reports that General Motors will announce Wednesday or Thursday it has completed the sale of its Saturn division to Penske Automotive Group, though no one from either GM or Penske will confirm the report.
GM and the Penske group have been negotiating the deal since June. In an exclusive interview with Edmunds' AutoObserver.com then, Roger Penske laid out his vision for Saturn as a different kind of global motors -- one that sells GM-made models but also sells vehicles made in other parts of the world by offshore manufacturers.
Initially, Saturn dealers will continue to sell ...
SAIC is likely to be the potential buyer of Saturn, the flagship brand under General Motors (GM), China Automotive Review reported.
GM, urgently in need of cash, is in talks with its Chinese partner SAIC, which is a potential buyer for Saturn, according to Saturn dealers.
Saturn, a “breakthrough” brand established 25 years ago, has been trying to build its unique brand image, but unfortunately it has never met GM’s sales target of 500,000 annually. Saturn sold 240,000 units in 2007 in America while in Jan-Oct 2008, Saturn sales declined 20.9% to ...
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