General Motors (GM) is proceeding to the next step with respect to the sale of Saturn. A number of potential buyers have surfaced and expressed interest in the Saturn brand and retailer network. GM says it will be reviewing expressions of interest from the potential buyers and will look to secure an agreement with a specific buyer later this year. S.J. Girsky & Co. has been retained by GM as advisor for this transaction. Saturn will continue to keep its retailers updated on its progress throughout this process, GM reports.
Off-lease fleet vehicles sold in the wholesale market at auction fell 1% in value in June from the prior month but increased 7% from a year ago, according to Tom Kontos, KAR Auction Services' chief economist.