DETROIT — General Motors is in talks about potentially turning its Saturn division over to Renault, according to a report Wednesday in The Wall Street Journal. The newspaper also said that Chinese automaker Geely, which has been described as a suitor for Ford's Volvo brand, may have submitted a bid for GM's Saab brand.
When contacted by Inside Line, GM spokesman Tom Wilkinson said in an e-mail on Wednesday that "any such discussions would be covered by non-disclosure agreements, so we are declining to comment."
The Wall Street Journal says that Renault would use the Saturn brand "as a launching pad for growth in North America," according to two unnamed sources. Under a deal with Renault, the French automaker would use the Saturn dealership network to sell its own vehicles, including those made by Renault or Samsung, and sell them as Saturns. Renault controls Japan's Nissan Motor and South Korea's Samsung Motors.
Renault appears to be the third potential suitor for Saturn. Also in line are Roger Penske and private equity firm Black Oak Partners.
Geely is one of "three to four" serious bidders for Saab, according to The Wall Street Journal. It said that Geely appears to be the only bidder from China, according to unnamed sources.
Inside Line says: No official confirmation from GM about the constantly swirling rumors about the fate of its Saturn and Saab brands. — Anita Lienert, Correspondent
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