DETROIT – An investment firm is interested in buying Saturn, the Detroit News reports. Telesto Ventures says it wants Saturn, and would have GM continue building the current models through 2011. Then it would get other automakers, (Chinese perhaps?), to build cars to sell under the Saturn brand through its 439 dealers in North America. By the way, Telesto is the name of one of Saturn’s moons.
Meanwhile, Bloomberg reports that GM may drop its Pontiac and GMC brands to further cut costs. That would mean more layoffs and plant closings as GM struggles to avoid a bankruptcy, if possible. But I don’t understand this story. GMC is still profitable, so why would you get rid of it?
The U.S. Energy Department say gas prices will hit an average of $2.23 a gallon this summer. According to USA Today, prices will peak at $2.30 during the summer, and hit $2.42 in 2010. Diesel is also expected to stay at $2.27 this summer, rising to $2.69 next year.
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