Below is an excerpt of the Business Journal article that deals with Saturn:
... With all of the auto industry turmoil of late, at least one car Valley dealer is feeling ecstatic. That may be a surprising emotion considering his monthly car sales plummeted from 300 in 2007 to about 20 today. Dan Jonuske, partner in Saturn of Scottsdale, said he feels like a death sentence was lifted with news last week that car racing legend Roger Penske plans to buy Saturn from General Motors Corp. and run it like a small, fuel-efficient fleet. Penske Automotive Group is one of the country’s largest publicly held auto retailers, but this would be its first foray into manufacturing. “Roger is a very smart man and saw the opportunity that Saturn would give to his team,” Jonuske said.
Last November, Jonuske figured his North Scottsdale dealership wouldn't pull through as monthly sales dropped dramatically. Americans were not in a buying moodas the economy faltered and they did not want to buy cars from a dealer that could close overnight. But the real blow was the announcement that GM would stop building Saturns within two years. "We were a damageb drand. We had a bullet through us," Jonuske said. Though Penske earned his reputation through racing, he owns the Penske Automotive Group in Detroit, which includes a variety of auto-related businesses grouped under the PAG heading. Penske also has ties to the Valley, which makes the pending deal even more sweet for Jonuske. "He has an obvious presence here with a car collection, and he flies his plane here," Jonuske said. The more important factors, however, relate to basic good business. "Saturn is a green company that values fuel efficiency" he said. "We believe Roger wants to manufacture cars in this country and put Americans to work." The deal still could fall through, but Jonuske is hopeful Penske will work out the details and help establish a new business model for the U.S. car industry. The deal is tentatively acheduled to be finalized in October.



