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Looks at the end of Saturn and the hits just keep on coming for GM of the beleaguered auto workers out there.
Legendary race team owner and executive Roger Penske pulling out of his company's plan to buy GM Saturn brand after failing to find -- manufacture.
The niche car company -- -- with more on the story when I think we're not talk enough about is the fact that.
Apparently there was possibly some kind of deal with Renault initially to bring cars that we're not talking about that -- -- It's obviously at least sniffing around coming back to occur in the United States and -- Penske first of all will not confirm if it was -- that they were they were talking when they have a confidentiality agreement but we -- you know that General Motors had agreed to sell the dealership -- -- -- the Saturn brand.
Two Penske Automotive Group and the Wall Street Journal is reporting that it was the Renault board which rejected.
He offered to supply what was it 50000 cars over our automobiles to what would be the new Saturn so with the deal done this is what Penske are now dead what Penske Automotive Group issued -- -- statement saying that look.
Without this agreement essentially the agreement to supply vehicles the risks and uncertainties related to the availability of future products.
Prohibit the company that's Penske from moving forward.
Here's the question you have to ask yourself and bottom line on this nobody who worked that pattern right now on it the fact is gonna lose a job is -- really part of Chevy at this point.
But the bottom line on this is okay so you might have been in negotiations with -- know.
But right now Saturn gets cars.
Through the GM world of Vauxhall and -- so what would conclude Penske for May be going to one of those producers it's -- hey keep giving us cards.
Did Penske really want out of this deal altogether because look.
I gonna make money in the United States selling cars it -- operatives that that's really the issue that some analysts say.
That had a beta -- and we haven't had a car company.
-- -- someone else's car and selling it since the turn of the century in at the last -- Studebaker used to do that.
We've Edison Edison electric tact won't we haven't had any auto makers in this country -- been able to make them.
And make a profit lately either lately but they will limit profits up until we don't trucks always produced -- profits but truck sales are down dramatically but the bottom line is.
The employees who work on the factory lines for Saturn those lines are not closing they're going to be producing ship is an already do -- -- and that's good news item.
Good news for them -- people who are losing their jobs are gonna be the people the 400 dealerships nationwide has -- some of the white collar workers in Detroit who part of Saturn one thing though.
Just because this deal is off we've -- Penske doesn't mean.
Another potential outsider could come to GM and say look we want those 400 dealerships let's negotiate and there were rumblings yesterday that maybe someone from China could remember they're doing a deal for Hummer.
The Chinese are doing to deal for Hummer.
That may be nothing confirmed may be one of the Chinese manufactures might see an opportunity here Dong fang.
-- -- -- -- agent sat apparently.
Saturn never made money on things I am Saturn never made a dime for -- -- Officially know now -- I also really and they actually and they they became Chevy just a few you know they've been integrating it.
For years all right take a quick.
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