Cars
The Penske Automotive Group, a car retailer that operates mostly in the U.S. and the UK and has the distributing rights for Daimler's Smart cars in the States, is the winning bidder for GM's Saturn unit, Bloomberg reported Friday morning. Citing a an unnamed source close to the negotiations, the news agency said that Penske will pay a price of $100 million to $200 million and that the deal may be announced as early as today. Earlier this week, General Motors announced that it had reached a preliminary agreement to sell Hummer to China's Sichuan Tengzhong Heavy Industrial Machinery Co. while the U.S. automaker that is currently reorganizing in Chapter 11 also plans to sell its Saab division.
- Gm Seals Deal To Sell Hummer To China's Sichuan Tengzhong
General Motors officially announced today that it has entered into a definitive agreement to sell its Hummer unit to China's Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd. The sale comes only four months after GM announced that it entered...
- Breaking: Penske Terminates Discussions With Gm On Saturn After Failing To Agree With Third Party Automaker
This just in; Saturn will soon be history as Penske Automotive Group (PAG) announced today that it has ceased discussions with General Motors to buy the nameplate, ultimately sealing the fate of the brand. The automotive retailer said that it terminated...
- Gm Officially Confirms China's Sichuan Tengzhong As Hummer's Buyer
And the impending buyer of General Motor's Hummer division is... China's Sichuan Tengzhong Heavy Industrial Machinery Co. LTD. Sorry, never heard of them and chances are that 99.99% of those reading this post haven't either. But if you must...
- Breaking: Report Claims That Gm And Magna Reach Preliminary Deal On Opel - Vauxhall
Citing an unnamed source close to the negotiations, Reuters reported on Friday that General Motors has reached a preliminary deal with Canadian auto parts supplier Magna International on the sale of Opel and Vauxhall. "We have an agreement in principle...
- Penske Not Buying Saturn, General Motors Kills Saturn
General Motors is killing off the Saturn brand. Prospective buyer Penske had all but acquired the relatively young brand but has backed out because of an "inability to source new products beyond what it had asked GM to build on contract". GM...
Cars
Smart Distributor Reported to Have Won Bid for GM's Saturn Brand
The Penske Automotive Group, a car retailer that operates mostly in the U.S. and the UK and has the distributing rights for Daimler's Smart cars in the States, is the winning bidder for GM's Saturn unit, Bloomberg reported Friday morning. Citing a an unnamed source close to the negotiations, the news agency said that Penske will pay a price of $100 million to $200 million and that the deal may be announced as early as today. Earlier this week, General Motors announced that it had reached a preliminary agreement to sell Hummer to China's Sichuan Tengzhong Heavy Industrial Machinery Co. while the U.S. automaker that is currently reorganizing in Chapter 11 also plans to sell its Saab division.Via: Bloomberg
- Gm Seals Deal To Sell Hummer To China's Sichuan Tengzhong
General Motors officially announced today that it has entered into a definitive agreement to sell its Hummer unit to China's Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd. The sale comes only four months after GM announced that it entered...
- Breaking: Penske Terminates Discussions With Gm On Saturn After Failing To Agree With Third Party Automaker
This just in; Saturn will soon be history as Penske Automotive Group (PAG) announced today that it has ceased discussions with General Motors to buy the nameplate, ultimately sealing the fate of the brand. The automotive retailer said that it terminated...
- Gm Officially Confirms China's Sichuan Tengzhong As Hummer's Buyer
And the impending buyer of General Motor's Hummer division is... China's Sichuan Tengzhong Heavy Industrial Machinery Co. LTD. Sorry, never heard of them and chances are that 99.99% of those reading this post haven't either. But if you must...
- Breaking: Report Claims That Gm And Magna Reach Preliminary Deal On Opel - Vauxhall
Citing an unnamed source close to the negotiations, Reuters reported on Friday that General Motors has reached a preliminary deal with Canadian auto parts supplier Magna International on the sale of Opel and Vauxhall. "We have an agreement in principle...
- Penske Not Buying Saturn, General Motors Kills Saturn
General Motors is killing off the Saturn brand. Prospective buyer Penske had all but acquired the relatively young brand but has backed out because of an "inability to source new products beyond what it had asked GM to build on contract". GM...