General Motors Co. has decided to wind down the operations of its Saturn brand, GM’s answer to Japanese automakers that was started 24 years ago. While GM had originally intended to sell Saturn to Penske Automotive Group, the latter pulled out of negotiations with GM and has forced GM to make this decision.
Penske, which operated 310 auto retailers, backed out of the deal because it was concerned that it would not have access to new vehicles in 2011 when GM was expected to stop supplying them. Its inability to sell the Saturn brand has forced GM to adapt its post-bankruptcy …read more

The deadline for auto dealers to file rebate applications as part of the Cash for Clunkers was nine days ago, and so far, only 17 percent of the rebates that have been filed have actually been dealt with. According to a government official, who also quoted the figure, the government plans to hire more employees to speed up the process.
Many auto dealers and other industry analysts have criticized the Cash for Clunkers for being too slow regarding the reimbursement of auto dealers, many of whom are already struggling and cannot afford to do business without the rebate money. Out of …read more

690,114 cars, $3 billion, and 30 days later, President Obama’s vaunted Cash for Clunkers program has come to an end, meaning that those who did not take advantage of the deal are out of luck. Analysts have praised the program for helping to save jobs and for generating hundreds of thousands of auto sales, but critics of the program wonder if Cash for Clunkers helped foreign automakers too disproportionately.
 
According to one analyst’s estimates, the Cash for Clunkers program ended up incentivizing the auto industry enough to save 39,000 jobs, allowing more dealers to keep workers around thanks to increased sales. …read more

While auto dealers across the country have certainly appreciated the influx of customers as part of the savings to be had in the Cash for Clunkers program, several dealers have expressed concern over the amount of time the government is taking to issue the rebate checks. However, Transportation Secretary Ray Lahood has reassured dealers across America, making it clear that dealers will be reimbursed.
 
Skepticism concerning the program has led several auto dealers to not even participate, while others have questioned whether or not they should continue with the program given the weakness of the economy and the need for cash …read more