GM to Close Saturn as Sale to Penske Collapses

The breakdown of a deal that had been widely expected to close this week will force some 350 Saturn dealerships to shut down and could cut 13,000 U.S. jobs that would have been preserved under a plan by auto magnate Roger Penske.

[jagdish dosanjh]

In the automotive industry there are just too
many repetitive models. Just hate to see a man
like Roger Penske take over G.M's burden.

[Redneck]

To much over production?

[Redneck]

And not enough buyers?

[Redneck]

Or too many emplyees using the cars after hours...

[Redneck]

For alternative business?

[P Smith]

Redneck wrote:

To much over production?

No, GM's (and Chrysler's) problem is making lousy, ugly cars that get poor mileage; at least Ford paid some attention to the market, which is why they didn't need a handout. People want cars that get 40-50 MPG and look good, and only the Japanese make those.

Correction: European car makers build efficient and attractive cars too, but US protectionism keeps them out of the market. Four a country that prattles on about "free markets" and "competition", the US sure as hell hates capitalism when the competitors are foreign.

The Fiat 500 that will be made in Mexico and sold in 2011 will get 56MPG and looks a hell of a lot better than most GM cars.