Penske Buys Saturn
Not confirmed yet - but it seems Penske just bought Saturn. Penske, which along with truck rental operates the second largest dealership network in the US, will use Saturn as a distribution channel for other companies products - including possibly extending the current arrangement of sourcing Opels - which would in this case be coming from Magna.
For those who dont know - Magna bought Opel alongn with Vauxhall (Opel in the UK) and Chevy Russia. The trick to this is that Magna is one of the largest tier 1 suppliers to auto companies around the world - and it will now be competing directly with its customers. Works if you really belive in pure economics but something is bound to go wrong. That said, Magna is well run and one of the few companies to be still on very solid ground right now.
My biggest hope is that this means somehow, somewhere, the Sky will survive..
For those who dont know - Magna bought Opel alongn with Vauxhall (Opel in the UK) and Chevy Russia. The trick to this is that Magna is one of the largest tier 1 suppliers to auto companies around the world - and it will now be competing directly with its customers. Works if you really belive in pure economics but something is bound to go wrong. That said, Magna is well run and one of the few companies to be still on very solid ground right now.
My biggest hope is that this means somehow, somewhere, the Sky will survive..
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