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Renault buys Saturn ? GM in talks...

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tocqueville Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-06-09 06:40 PM
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Renault buys Saturn ? GM in talks...
General Motors Corp. is in talks about potentially turning its Saturn division over to Renault SA, allowing the French auto maker to use the brand as a launching pad for growth in North America, two people familiar with the matter said.
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Renault is one of several auto makers and other suitors interested in taking Saturn over from GM. The U.S. auto maker is surviving on $15.4 billion in government loans and is under pressure to restructure its balance sheet, union contracts and operations by June 1, or face a bankruptcy filing.
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Any buyer of the Saturn division likely wouldn't put direct cash in the deal, but would need to take on liabilities and the costs of running the business, including production.

Under a deal with Renault -- which controls Japan's Nissan Motor Corp. and South Korea's Samsung Motors -- the French auto maker could eventually use the Saturn network of 400-plus dealers to sell its own cars, including vehicles made by Renault or Samsung and sold as Saturns, the people familiar with the matter said. The Saturn brand has a strong reputation for customer service but has been hindered under GM's ownership due to a lack of consistent innovation.

http://online.wsj.com/article/SB124162175673192025.html
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Siwsan Donating Member (385 posts) Send PM | Profile | Ignore Wed May-06-09 06:55 PM
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1. I love my Saturn
Absolutely the best, most reliable car I've ever owned. It's a 2002, and all I've ever had to have done is basic maintenance. I'm hoping to be driving it, for years.
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tocqueville Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-06-09 07:06 PM
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2. Renault's Simpson's ad
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muntrv Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-06-09 07:55 PM
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3. It's ashame that GM didn't invest more money in Saturn.
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The Velveteen Ocelot Donating Member (1000+ posts) Send PM | Profile | Ignore Wed May-06-09 07:59 PM
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4. I had a 1995 Saturn, loved it,
drove it until it wore out; and then just recently bought a Saturn Vue, which I totally love. The dealer was great, too. I hope the brand continues.
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