GM to shutter Saturn two years ahead of plan
04/27/2009
General Motors previously stated it would continue funding its Saturn brand through the 2012 model year, but an accelerated restructuring plan will cut that relationship short. GM failed to mention when the last GM-sourced Saturn vehicle would roll off the assembly line, but the Detroit automaker confirmed it would be later this year.
In its restructuring plan submitted February 27th, GM assured Saturn dealers and customers funding had been allocated to keep the division up and running through 2011 or the 2012 model year. However, President Obama rejected that viability plan, resulting in further cuts, including the death of the Saturn brand by the end of 2009.
It remains possible Saturn could be sold to another company and continue operating, but the newly-shortened timeframe will undoubtedly put a squeeze on negotiations. ?If a sale of Saturn does not occur, we intend to phase out the Saturn brand by the end of 2009,? GM said in its revised plan today. ?As a result, our current Viability Plan does not comprehend production and sales to dealers of Saturn products beyond 2009.?
GM also revealed on Monday that it plans to cease production of Hummer models by the end of 2009, with all Pontiac models to follow suit by 2010.
I hope some company or something either finds the funds or buys up the excess resources of these marques. It's really sad to see these marques go..........jobs will be lost.
What a momentous time for the auto industry.
The only one I'll miss is Saab. I used to hate the old egg-shaped Saabs -- the perfect car for an egghead college professor from Connecticut. But in the last 10 years, I had grown to like them and even considered buying one.
We can't rely on these zombie companies to create and preserve jobs. Better to clear them out if they can't make it, and allow new companies to rise from the ashes. Trying to save these companies is like trying to keep a house standing whose structure has been eaten by termites. Better to knock it down and start over.
When I was a kid my uncle (Roy Roberts,executive at GM at the time) said he thought Saturn was a big waste of money. I guesse he was rite!
It might have worked out better, but GM blew the whole Saturn concept, and ended up running like just another dysfunctional GM brand.
I love how Oldsmobile and Saturn were supposed to be "import fighter" brands.
WTF? EVERY CAR YOU SELL SHOULD BE AN IMPORT FIGHTER!
You hit the nail right on the head.
So, does this mean that Sky Red Lines are going to be cheap on the secondary market?
Quote from: Raza on April 28, 2009, 02:14:20 PM
So, does this mean that Sky Red Lines are going to be cheap on the secondary market?
They will either become underloved for 30 years until the market picks up like the AMX or they will be the next BMW Z1, relatively speaking.
Quote from: Raza link=topic=18525.msg1050849#msg1050849 date=1240949660
So, does this mean that Sky Red Lines are going to be cheap on the secondary market?
I've seen the regular the Sky going for as little as $23,000 CDN brand new. Not the Red Line, but a Sky nonetheless.
Quote from: HEMI666 on April 28, 2009, 02:25:49 PM
I've seen the regular the Sky going for as little as $23,000 CDN brand new. Not the Red Line, but a Sky nonetheless.
Damn. The base Sky is 28K here. That's a pretty good discount.
Quote from: Raza link=topic=18525.msg1050849#msg1050849 date=1240949660
So, does this mean that Sky Red Lines are going to be cheap on the secondary market?
Beat me to it.
Perhaps it will be cheap on the primary market. Sounds like a great way to spend a student loan...
Quote from: Raza link=topic=18525.msg1050957#msg1050957 date=1240954553
Damn. The base Sky is 28K here. That's a pretty good discount.
Base price here is $33,700 CDN. So, they are voluntarily giving a $10K discount on them.
Quote from: Raza on April 28, 2009, 02:14:20 PM
So, does this mean that Sky Red Lines are going to be cheap on the secondary market?
I hope so.