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REPORT: Penske lines up as potential Saturn suitor
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JLA
May 6, 2009, 2:32:08 AM5/6/09
to
he typical relationship between automakers and dealerships, of course,
is for the dealers to sell the cars that the automaker produces. But
with General Motors shedding like a dog in springtime, it's the
dealers who have been looking to buy the brands themselves. Following
interest expressed by German dealers to acquire Opel and a group of
investors including equity firm Black Oak and the brand's own dealers
to acquire Saturn, one of the country's biggest dealership groups is
stepping up to the plate as a serious contender to take over the no
hassle GM division.
is for the dealers to sell the cars that the automaker produces. But
with General Motors shedding like a dog in springtime, it's the
dealers who have been looking to buy the brands themselves. Following
interest expressed by German dealers to acquire Opel and a group of
investors including equity firm Black Oak and the brand's own dealers
to acquire Saturn, one of the country's biggest dealership groups is
stepping up to the plate as a serious contender to take over the no
hassle GM division.
Suburban Detroit-based Penske Automotive Group statistically sells the
second most amount of new cars in America. It also runs truck leasing,
shipping/logistics and, of course, racing operations to great success.
But Penske has also got experience shaping the fortunes of automakers,
as well, after handling the introduction of Smart cars in North
America and the turnaround of Detroit Diesel from a money-losing
operation into a profit-generating one. Of course, Penske is just one
of many potential buyers for Saturn, but with Roger's business acumen
and proven track record, he's one the General can't afford to ignore.
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