So Long, Saturn

“Today we learned that Penske Automotive Group (PAG) has decided to terminate discussions with General Motors to acquire Saturn. . . . .PAG’s announcement explained that their decision was not based on interactions with GM or Saturn retailers; rather it was because of the inability to source new products beyond what it had asked GM to build on contract.”—Fritz Henderson, president and CEO, General Motors Somewhat surprising turn of events.

“Today we learned that Penske Automotive Group (PAG) has decided to terminate discussions with General Motors to acquire Saturn. . . . .PAG’s announcement explained that their decision was not based on interactions with GM or Saturn retailers; rather it was because of the inability to source new products beyond what it had asked GM to build on contract.”—Fritz Henderson, president and CEO, General Motors

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Somewhat surprising turn of events. But as a friend of mine had pointed out: What products could PAG source from which companies? “If any company has quality products, they’re going to want to sell them directly, not through Saturn. And what’s Penske going to do? Take some crappy product from a Chinese company and slap a Saturn logo on it? I don’t think so.”

He was right.