Cars
Confirming an earlier report this morning, General Motors has announced that it has reached a preliminary agreement with Penske Automotive Group for the sale of the Saturn brand. The financial terms of the deal were not disclosed but GM said that it expects the close the transaction in the third quarter of this year. The American automaker said that if completed, the deal will save more than 350 dealerships and 13,000 jobs at Saturn and its retailers in the United States. 
"This is the combination of two iconic teams: Saturn and Penske," said Saturn general manager Jill Lajdziak. "GM had the vision to create Saturn and has the desire to see it succeed in the future. There has been a groundswell of support for Saturn, with our retailers and owners urging us to save the brand," Lajdziak continued. "We heard their call loud and clear, and it inspired us as we worked to secure Saturn's future."
- 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...
- 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...
- Saturn Is Done In Canada
From Autoblog comes news from the Canadian Broadcasting Corporation's French division, Radio-Canada, that Penske will cause Saturn to cease in Canada. General Motors-owned Saturn, transferring into Roger Penske's hands, only sold through 60 dealerships...
- Will It Be The Penske Saturn Aura, Penske Aura, Or Perhaps Just The Saturn Aura?
Laying in wait in the grasp of the future; many strange automotive events prepare. General Motors is rapidly becoming the New GM. (And how annoyingly.) Hummer might be Chinese. Then again, it might not. Will Porsche swallow Volkswagen, or will they just...
- Some Saturn Numbers
Saturn originated as 'a different kind of car company'. At the top of the heap, however, sat General Motors. General Motors is responsible for a very large number of automotive brands and, certainly in the late 80's and early 90's, had...
Cars
BREAKING: GM Confirms Penske as Saturn Buyer, Says Production of Aura, Vue and Outlook Will Continue
Confirming an earlier report this morning, General Motors has announced that it has reached a preliminary agreement with Penske Automotive Group for the sale of the Saturn brand. The financial terms of the deal were not disclosed but GM said that it expects the close the transaction in the third quarter of this year. The American automaker said that if completed, the deal will save more than 350 dealerships and 13,000 jobs at Saturn and its retailers in the United States. Under the agreement, Penske, the second-largest retailer in the States, would obtain the rights to the brand as well as certain other Saturn assets while GM would continue production, on a contract basis, of the Saturn Aura sedan, Vue SUV and Outlook SUV - yes, the Astra and Sky Roadster are 'dead'.
"This is the combination of two iconic teams: Saturn and Penske," said Saturn general manager Jill Lajdziak. "GM had the vision to create Saturn and has the desire to see it succeed in the future. There has been a groundswell of support for Saturn, with our retailers and owners urging us to save the brand," Lajdziak continued. "We heard their call loud and clear, and it inspired us as we worked to secure Saturn's future.""Saturn has a passionate customer base and outstanding dealer network," said Roger Penske, chairman of Penske Automotive Group. "For nearly 20 years Saturn has focused on treating the customer right. We share that philosophy, and we want to build on those strengths."
- 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...
- 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...
- Saturn Is Done In Canada
From Autoblog comes news from the Canadian Broadcasting Corporation's French division, Radio-Canada, that Penske will cause Saturn to cease in Canada. General Motors-owned Saturn, transferring into Roger Penske's hands, only sold through 60 dealerships...
- Will It Be The Penske Saturn Aura, Penske Aura, Or Perhaps Just The Saturn Aura?
Laying in wait in the grasp of the future; many strange automotive events prepare. General Motors is rapidly becoming the New GM. (And how annoyingly.) Hummer might be Chinese. Then again, it might not. Will Porsche swallow Volkswagen, or will they just...
- Some Saturn Numbers
Saturn originated as 'a different kind of car company'. At the top of the heap, however, sat General Motors. General Motors is responsible for a very large number of automotive brands and, certainly in the late 80's and early 90's, had...