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Even Saturn prices are leaving the stratosphere as used-car demand soars

Initially marketed as "a different kind of car company," General Motors-owned Saturn unceremoniously closed its doors in early 2010 after years of slumping sales and degradation of the brand. The firm's star is unexpectedly beginning to rise again as demand for used cars balloons in America, and values of used Saturn models are outpacing the industry average. Citing data provided by Car Gurus, The Drive is reporting that Saturn's transaction prices have increased more than any other carmaker's during the past 90 days. They've gone up by 26.15% since March 2021, and they've skyrocketed by 30.24% since June 2020. For context, Subaru posted increases of 12.13% and 20.26%, respectively, and the industry-wide averages stand at 17.11% and 30.23%. Used cars are more expensive across the board, but luxury models generally gained less value than cheaper models built by mainstream brands. In spite of the increase, Saturn's transaction prices remain the lowest on the market, according to the same source. The average sale is pegged at $6,284, versus $23,734 for Toyota and $17,507 for Kia. One factor undoubtedly influencing this difference is that, as we mentioned, the last Saturn was built over a decade ago. There's no such thing as a late-model Saturn, so all of its cars are lugging around 10-plus years of depreciation. If you want to surf this trend, the most expensive Saturn is the Outlook (2007-2010), an SUV that was basically a GMC Acadia with a different badge. It sells for $6,770, on average. At the opposite end of the spectrum, the humble Ion (2003-2007; pictured) trades hands for $4,446; it dented Saturn's average by losing 0.49% of its value during the past 30 days. What this means in the grand scheme of things is open to debate. What's certain is that more motorists are buying used as the ongoing chip shortage creates delivery delays and leaves dealers with low inventory levels, a situation forcing companies to take unprecedented measures. Ford is offering a $1,000 incentive to keep buyers in the fold, for example. Some might end up with their name on a Saturn title simply because it was the first car they stumbled upon. Others, especially drivers 30 and older, might remember the brand's reputation for building value-packed cars that were vaguely interesting.

Report: Saturn owners offered $2,000 to stick with GM products

After its decision to euthanize Oldsmobile, General Motors knows exactly what happens when it mothballs one of its brands: GM loses market share to the competition. The General is trying to stop history from repeating itself with Saturn customers by offering $2,000 on the hood of every car and crossover donning the ringed planet badge. Automotive News says the offer actually started on February 2 and runs until the end of March. To be eligible for the $2,000 bounty Saturn owners must have leased or purchased their Saturn at least six months ago. Interestingly, those owners don't even have to turn in their Saturn to be eligible for the cash.
AN reports that research company R.L. Polk says even before Saturn went on the endangered species list, it lagged other GM nameplates in the all-important aspect of customer retention. The mass exodus from Saturn loyalty predictably intensified at the end of 2008 as customers became anxious over the future of the brand. For its part, GM insists that all Saturn warranties will be upheld and customers looking for service can still go to a GMC, Chevy, Buick or Cadillac dealership.
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GM recalling 426,000 sedans over faulty transmission shift cable

General Motors is recalling some 426,240 sedans that may have a faulty transmission shift cable, according to a National Highway Traffic Safety Administration report this morning. The recall concerns a fault within four-speed automatic transmissions equipped on 2007-2010 Saturn Aura models, and 2008-2010 Chevrolet Malibu and Pontiac G6 models.
The report specifies that tabs on the transmission shift cable may fracture and separate. Such a fault could cause a discrepancy between the actual position of the transmission and the apparent position of the shift lever.
GM is currently working to notify owners of the vehicles in question, and dealers will check and replace shift cables free of charge. Scroll down to read the complete NHTSA report.