GM Confirms Offers to Sell Saturn

Although Saturn's future has often been put in doubt, General Motors every once in a while confirmed its intentions to sell Saturn, mentioning with every single occasion that some parties are interested in this particular brand. Obviously, no names have been revealed, with the American automaker struggling to keep the deal hidden from our eyes.

In a statement released today, General Motors announced that it hired S.J. Girsky&Co to advise the transaction, hinting that the company has finally found somebody interested in purchasing the ailing brand.

"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," the company said in a statement for the press.

However, this is nothing new for those familiar with the case as rumors regarding Girsky's involvement in Saturn's future have longly circulated in the media. Saturn General Manager Jill Lajdziak mentioned in a letter sent to authorized dealerships on March 3 that Steve Girsky has been hired to supervise Saturn's selling process.

"He has extensive knowledge of the financial side of the equation and so he's helping evaluate the different options. But he's also there to build the business plans for the options," Janisse said.

"An independent Saturn would still have its great retailers, and it would continue to source current products from GM through 2011. If successful, SDC at that point would source products from other manufacturers."
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram Twitter
About the author: Bogdan Popa
Bogdan Popa profile photo

Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
Full profile


Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories