PENSKE bought Saturn .............. absolutely brilliant move
Watch what he will do with this brand.
PENSKE bought Saturn .............. absolutely brilliant move
Watch what he will do with this brand.
What could possibly go wrong?
He's been very good for racing which I love, so I hope this works for him.
Penske has a wee bit of business expertise...
* Penske Racing - Marlboro Team Penske (IRL), Penske South (NASCAR), Penske Motorsports (ALMS)
* Penske Automotive Group - (PAG:NYSE - a 40+% stake) 151 United States Car Dealerships and 101 International Car Dealerships. It is the second largest dealership group in the world.
* Penske Motor Group - Owns and operates automobile dealerships in California.
* Penske Truck Leasing - Joint venture with GE Equipment Management
* Penske Logistics - Transportation Logistics
* VM Motori S.p.A. - Owns 51% stake and 49% DaimlerChrysler Group, Truck-Lite, and Davco (transportation component manufacturing).
* Truck-Lite - Lighting Manufacturer for Heavy trucks (18 Wheelers)
* QEK Global Solutions - QEK Global Solutions is a provider of a wide range of integrated support services to vehicle manufacturers, their tier-one suppliers, and other businesses outside the automotive sector.
* Davco - Manufacturer of Class 8 Heavy Duty Diesel powered truck fuel/heater water separators and filter systems.
* Ilmor - Engine builder
* Deer Valley Ski Resort - Part owner
* Internet Brands - Early investor in CarsDirect. Director since May 2000.
* Universal Technical Institute - Board of Directors. Nationwide provider of technical education training for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians. NASCAR Technical Institute is located in Mooresville, North Carolina.
* FER Fahrzeugelektrik GmbH - Lighting Manufacturer
Stefan Josef Koch
RGruppe #194/SRegistry #1063
1969 Porsche 911E, Light Ivory (38 years and counting)
2015 Porsche Cayman S
2012 BMW R1200GS, 1973 BMW R75/5
"An intelligent man is sometimes forced to be drunk to spend time with his fools." -E. Hemingway
Never said he didn't. In fact I'm rooting for him.
Love to see the financing... He was probably paid to buy it.
86 Sport Purpose Carrera "O4"
He's gonna need it.
I remember when Mr Penske engineered the take-over of Allison, a few years back. It's easy to make money picking low-hanging fruit out of GM's ratty corporate tree. But Saturn? Apart from some Jimmy-re-bodies and that Solstice/Sky thing . . . what did he buy? Business accumen will only get you so far. If he's not selling a product that people actually want, then he doesn't have a business. How many Saturn's have you had in your garage?
I'm sure Mr Penske will find a way to make some money on the deal --- if he hasn't already; making money is what he does best. As for actually building cars that can be sold for a profit, well . . . . I don't see anything about product-development anywhere in Mr Penske's resume. At least Pontiac had their Holden connection to pull products from; the GTO and G8 were actually fun. But Saturn? Well, like I said . . . good luck.