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GM Officially Announces Saturn Sale In Full Swing Photo:
 
 
Tony O'Kane | May, 05 2009 | 0 Comments

While many shed a tear for GM's Pontiac division when it was announced the almost 100 year-old badge would be retired, scarcely a whimper has been heard for that other soon-to-be-dumped GM brand, Saturn.

The difference between Pontiac and Saturn however, is that Saturn is to be sold off, while Pontiac will simply disappear from dealerships. Does this mean GM wants to keep Pontiac within arm's reach so that it could resuscitate it when skies are blue and the ledger is black? By extension, does that also make Saturn the red-headed stepchild GM wishes it never had?

Whatever the case, GM has announced that the selling process for Saturn is well-and-truly underway, with a number of prospective buyers lining up to take the poorly performing division off GM's hands.

In a statement issued earlier today, GM said:

"General Motors is proceeding to the next step with respect to the sale of Saturn. A number of potential buyers have surfaced and expressed interest in the Saturn brand and retailer network.

"GM will be reviewing expressions of interest from the potential buyers and will look to secure an agreement with a specific buyer later this year.

"S.J. Girsky & Co has been retained by GM as advisor for this transaction. Saturn will continue to keep its retailers updated on its progress throughout this process."

There you have it. Saturn will live, but not under the umbrella of General Motors. Will it find success with a new owner? Watch this space.

 
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