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Registered
Join Date: Jan 2002
Location: Nor California & Pac NW
Posts: 24,806
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Auto Brands For Sale - Which Will Make It?
The world's unwanted automotive brands are being sold off, and so far most of them have found buyers.
Saturn (or at least Saturn excluding its assembly plants) will be sold to PAG, a large auto dealership chain.
Under the terms of the MOU, if the transaction is completed, Penske Automotive Group would obtain the rights to the Saturn brand, acquire certain assets including the Saturn parts inventory, and have the right to distribute vehicles and parts through the Saturn Dealership network. General Motors would continue to provide Saturn Aura, Vue and Outlook vehicles, on a contract basis, for an interim period.
Hummer will be sold to Sichuan Tengzhong Heavy Industrial Machinery Co (a Chinese truck/machinery maker). Although, this needs Chinese govt approval.
Opel will be sold to a consortium of the Russian govt (via a govt-owned bank) and MGA (a tier 1 parts supplier), with part ownership by GM. Other bidders, Fiat and a Chinese auto OEM, are out there but I think the decision is made.
Saab is apparently considering alternative bids by Koenigsegg (a niche vehicle builder), Renco (an investment company), and Fiat (unclear how interested Fiat really is).
Jaguar and Land Rover were bought by Tata Motors of India, that is older news.
Volvo is for sale, bidders undisclosed, probably includes Geeley (Chinese automaker).
Which do you think will make it? Why?
Edit: To be clear - this thread isn't meant to be about F or GM or Toyota or the other major OEMs. I'm trying to focus on the brands that have changed hands.
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1989 3.2 Carrera coupe; 1988 Westy Vanagon, Zetec; 1986 E28 M30; 1994 W124; 2004 S211
What? Uh . . . “he” and “him”?
Last edited by jyl; 06-05-2009 at 10:14 AM..
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