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Dealers, Private Equity Firm May Buy GM's Saturn
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Dealers, Private Equity Firm May Buy GM's Saturn

Business

Dealers, Private Equity Firm May Buy GM's Saturn

Dealers, Private Equity Firm May Buy GM's Saturn
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Some Saturn dealers have teamed up with a private equity firm to try to buy the brand. GM has put Saturn on the chopping block. Their group is called Telesto Ventures, named after one of the moons that circles Saturn.

STEVE INSKEEP, host:

NPR's business news starts with the prospects for GM's Saturn.

(Soundbite of music)

Saturn car dealers sold fewer than 200,000 vehicles last year. And with GM talking about eliminating the brand, a group of dealers has teamed up with a private-equity firm. In a bid for self-preservation, they're hoping to buy the Saturn brand. Their group is called Telesto Ventures, named after one of the moons that circles the planet Saturn, and they submitted a proposal last week. The plan does not include building the cars themselves. They would be distributing cars which they would get from GM or from other automakers. The plan also talks about offering electric cars down the road.

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