Roger Penske Interested in Buying Saturn - Saturn Sky Forums: Saturn Sky Forum
SKYRoadster News News related to the Saturn SKY as well as site news. Only Administrators may create new threads in this section.

User Tag List

 
LinkBack Thread Tools Display Modes
post #1 of 13 (permalink) Old 05-05-2009, 12:24 PM Thread Starter
Administrator
 
Administrator's Avatar
 
Join Date: Mar 2008
Posts: 188
Mentioned: 32 Post(s)
Tagged: 0 Thread(s)
Quoted: 11 Post(s)
Roger Penske Interested in Buying Saturn


A day after General Motors released a vague statement declaring that it is moving to "the next step" in the sale of the Saturn brand it appears as though Roger Penske is one of the interested buyers.

Penske, a former race car driver and now the man at the top of an automotive empire is no stranger to the business, owning numerous dealerships. In fact, Penske's dealership chain is listed as the second largest in the United States, accounting for 171,872 vehicles sold in the U.S. in 2008.

The Penske dealership network is not immune to the current economic climate, with Q1 profits down roughly 50 percent from the year previous. Still, the company managed a 16.2 million profit.

The Penske Automotive Group even distributes the SMART car for Mercedes/Daimler throughout the United States.

Currently Penske oversees three major racing initiatives in the NASCAR Sprint Cup, the American Le Mans Series (ALMS) and the Indy Racing League (IRL). He is also a well-known supporter of the city of Detroit and the U.S. auto industry, having helped bring the racing back to Detroit's Belle Isle in recent years as well as assisting in bringing the Superbowl to the struggling city.

The Wall Street Journal cited an unnamed source in regards to Penske's interest. The individual said that while Penske is interested, no offer has been made.

More: Roger Penske Interested in Buying Saturn on AutoGuide.com
Administrator is offline  
post #2 of 13 (permalink) Old 05-05-2009, 12:27 PM
Senior Member

 
MidniteBlues's Avatar
 
Join Date: Aug 2006
Location: South Florida
Posts: 7,468
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 11 Post(s)
Thumbs up

Whoa, heavy.. Like my avatar states, SMOKIN!!




Don't interfere with anything in the Constitution. That must be maintained, for it is the only safeguard of our liberties. Abraham Lincoln

The Constitution is essentially an obsolete charter of negative liberties. Barack Obama
MidniteBlues is offline  
post #3 of 13 (permalink) Old 05-05-2009, 12:44 PM
Senior Member
 
sworthit's Avatar
 
Join Date: Mar 2008
Location: Hamilton, NJ
Posts: 211
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
awesome .....




(some people already believe i drive for penske)

sworthit
sworthit is offline  
post #4 of 13 (permalink) Old 05-05-2009, 03:27 PM
Senior Member
 
RainbowintheSky's Avatar
 
Join Date: May 2008
Location: Bayville, NJ
Posts: 429
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Send a message via AIM to RainbowintheSky Send a message via Yahoo to RainbowintheSky
With his background in racing, I think he would be very interested in keeping the Kappa platform around if it was financially feasible.
RainbowintheSky is offline  
post #5 of 13 (permalink) Old 05-05-2009, 03:30 PM
Senior Member
 
GordoSH-3's Avatar
 
Join Date: Sep 2008
Location: Crimson Tide Land
Posts: 331
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
We (Saturn owners) should be so lucky. Penske is a class act and has a reputation for doing things "right." Keep your fingers crossed that this works out.

Gordo

“Dragon Slayer”
Yellow '08 RL, 3 pedals, cow skin
Options: shiny rims, mud flaps, aerodynamically questionable airfoil
Mods: GMPP LNF tune, etched glass Windblade, DDM Backbone & Pro-Beam
Upgrades: Phase-plasma rifle in the 40-watt range
GordoSH-3 is offline  
post #6 of 13 (permalink) Old 05-05-2009, 04:33 PM
Member
 
Elff's Avatar
 
Join Date: Jun 2008
Location: Keebler, PA
Posts: 4,356
Mentioned: 2 Post(s)
Tagged: 0 Thread(s)
Quoted: 254 Post(s)
Garage
That would rock
and it might even save the Kappa!!

LUSIFER is Sold!
say hello to
RYUK

I'm not short, I'm concentrated AWESOME
Elff is offline  
post #7 of 13 (permalink) Old 05-05-2009, 06:13 PM
Member
 
user2264's Avatar
 
Join Date: Aug 2007
Location: West Tennessee
Posts: 68
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Looks like there is another group looking at Saturn from Ohio. Also interested in one or more Chrysler plants. The news gets more interesting.

Roger to the Rescue? Penske Emerges as Possible Saturn Suitor | Motortrend News & Auto Blog - Wide Open Throttle

08 Midnight Blue
2.4, Auto.
Black Leather and Roof
Monsoon, Rear Spoiler
Chrome Wheels
Purchased 8/31/07

Molto Veloce
user2264 is offline  
post #8 of 13 (permalink) Old 05-06-2009, 08:55 AM
Member
 
Join Date: Dec 2008
Location: Houston, TX
Posts: 25
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Penske and Saturn

As an indy fan, this is an interesting development,,,,,do you think he would continue Saturn production,,or just incorporate dealers into his network of distributors????? Hope this rumor works out..
Laservago is offline  
post #9 of 13 (permalink) Old 05-06-2009, 09:48 AM
Senior Member
 
Join Date: Feb 2007
Location: Baltimore, MD
Posts: 1,298
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
wow this would be cool

2008 Kawasaki Ultra 250x
- Supercharged 1,498 CC
- 0 to 30 in 1.8sec
2004 Saleen S281 S/C
- Supercharged 281ci
- 1 of 101 S/C Coupes in 2004
ParrotHeadNation is offline  
post #10 of 13 (permalink) Old 05-06-2009, 10:23 AM
Senior Member
 
uranium-238's Avatar
 
Join Date: Jun 2008
Location: Southern Maryland
Posts: 1,130
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
If this happens, it could be the best thing to happen to the brand. Also makes you wonder what might be done with the Kappa platform...

Black Onyx 2009 Saturn Sky Redline
Manual transmission
Black leather
Monsoon stereo
6-disk CD/MP3 changer
Stubby Antenna
"Redline" Wind Restrictor
K&N Air Filter
35% tint, side and rear windows
uranium-238 is offline  
post #11 of 13 (permalink) Old 05-06-2009, 06:09 PM
First 2000 Sr. Member
 
JeffInDFW's Avatar
 
Join Date: Dec 2005
Posts: 481
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
If GM had **ANY** sense, they would do what Porsche has done. Porsche has the 911, and the Boxter. GM has the Corvette, and should move the Sky to Chevrolet to be like the Boxter for Chevrolet. Styling already has the "family" look. Even the platform design is incredibly close to the hydroformed frame rails of the Corvette. Porsche sells many times more Boxters than the 911, and Chevrolet could do the same with the Sky. They could rename the car as the "Stingray". Chevrolet now sells 30,000 Corvettes, and my bet is that they could sell 50,000 "Stingrays".

2006 Deep Solstice NA...Traded in for:
2009 Sky Redline Ruby Red Limited Edition
5 speed manual/rear spoiler added/6 disc/Monsoon
GMPP Tune/MBRP Charge Pipes/DDM Backbone & Probeam/K&N Drop in/HIDs
*Thank You Bob Lutz* And Wilmington UAW 435
JeffInDFW is offline  
post #12 of 13 (permalink) Old 05-07-2009, 07:08 AM
Senior Member
 
uranium-238's Avatar
 
Join Date: Jun 2008
Location: Southern Maryland
Posts: 1,130
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
No, not the Boxter...A Cayman-esque Kappa would be a better route.

Black Onyx 2009 Saturn Sky Redline
Manual transmission
Black leather
Monsoon stereo
6-disk CD/MP3 changer
Stubby Antenna
"Redline" Wind Restrictor
K&N Air Filter
35% tint, side and rear windows
uranium-238 is offline  
post #13 of 13 (permalink) Old 05-12-2009, 03:55 PM
Senior Member
 
Join Date: Sep 2007
Location: Edgewater, MD (near Annapolis)
Posts: 103
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Either way, we have special cars my friends. Might want to hold on to them for awhile. I am glad I was able to tour the plant last year (at least once). Who knows what will happen in months/years to come. That is one experience I was glad to be a part of under Saturn.

ScottyB
Black Sky
Edgewater, MD
ScottyB is offline  
Reply

  Saturn Sky Forums: Saturn Sky Forum > SKYRoadster News & Polls > SKYRoadster News

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Saturn Sky Forums: Saturn Sky Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome