Saturn may drop L-Series
Despite high hopes, slow sales have GM ready to end production earlier than planned
By Ed Garsten / The Detroit News
DETROIT — General Motors Corp. is likely to stop production of the failed Saturn L-300 midsize passenger car ahead of schedule because of disappointing sales and bulging inventories, according to sources familiar with the situation.
The L-Series was launched in 1999 with great expectations and a mission to compete with industry-leaders Toyota Camry and Honda Accord. Instead, it has become a key reason that Saturn has struggled in recent years.
Even a redesign for the 2003 model year and beefed up advertising failed to ignite consumer interest.
Last year, L-Series sales dropped 20 percent from 2002, according to Autodata Corp. Last month, sales plummeted 78 percent from a year earlier.
By the end of January, dealer lots were jammed with a 151-day supply of the L-300 sedan, according to Farmington Hills-based CSM Worldwide, an automotive forecasting firm.
“Clearly, the vehicle has missed its market by a long shot,” CSM Worldwide analyst Mike Jackson said.
Saturn has said it planned to end production of the L-Series next year, replacing it in 2006 with a new midsize car based on the same underpinnings as the Chevrolet Malibu and Malibu Maxx, Pontiac G6 and Saab 9-3 and Opel Vectra.
But people familiar with the matter said with sales slowing, GM likely will pull the plug on L-Series production this year.
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Despite high hopes, slow sales have GM ready to end production earlier than planned
By Ed Garsten / The Detroit News
DETROIT — General Motors Corp. is likely to stop production of the failed Saturn L-300 midsize passenger car ahead of schedule because of disappointing sales and bulging inventories, according to sources familiar with the situation.
The L-Series was launched in 1999 with great expectations and a mission to compete with industry-leaders Toyota Camry and Honda Accord. Instead, it has become a key reason that Saturn has struggled in recent years.
Even a redesign for the 2003 model year and beefed up advertising failed to ignite consumer interest.
Last year, L-Series sales dropped 20 percent from 2002, according to Autodata Corp. Last month, sales plummeted 78 percent from a year earlier.
By the end of January, dealer lots were jammed with a 151-day supply of the L-300 sedan, according to Farmington Hills-based CSM Worldwide, an automotive forecasting firm.
“Clearly, the vehicle has missed its market by a long shot,” CSM Worldwide analyst Mike Jackson said.
Saturn has said it planned to end production of the L-Series next year, replacing it in 2006 with a new midsize car based on the same underpinnings as the Chevrolet Malibu and Malibu Maxx, Pontiac G6 and Saab 9-3 and Opel Vectra.
But people familiar with the matter said with sales slowing, GM likely will pull the plug on L-Series production this year.
more...