Penske in talks with GM to buy Saturn brand

by Suzanne Ashe

Font size
Print
E-mail
Share
2 comments

Penske Automotive Group announced today that is has signed an agreement with General Motors regarding the Saturn brand.

Under the terms of the agreement, if the transaction is completed, Penske Automotive Group would obtain the rights to the Saturn brand, acquire certain assets including the Saturn parts inventory, and have the right to distribute vehicles and parts through the Saturn Dealership network. General Motors would continue to provide Saturn Aura, Vue, and Outlook vehicles, on a contract basis, for an interim period.

Further details of the transaction are not being released at this time. The closing of the transaction is expected to occur during the third quarter of 2009.

(Source: Penske Automotive Group)

Topics:: News

Tags:: General Motors,; Saturn,; Penske

Share:: Digg; Del.icio.us; Reddit; Facebook

Recent posts from The Car Tech blog: 143: Ford puts airbags where? Hybrid Humvees, and a ride in the X5 M.; Award-winning tech at the 2009 SEMA Show; Peugeot's funny, little, electric concept; Dartz Kombat T-98 vs. Hummer H-1; Denso eyes standard hybrid parts; Rolls Royce Drophead, Ferrari 599 GTB Fiorano spotted in Paris; Tuners embrace Hyundai Genesis at SEMA; Matte black Lexus LF-A is stealthy super car

Add a Comment (Log in or register)


by ikramerica--2008 June 5, 2009 9:03 PM PDT: Amazing if confirmed. It's been obvious for years that GM's size was unmanageable and created multiple "brands" of basically the same vehicles. It'll be nice to see lots of car companies in the USA again. But it's a shame they will all be forced to compete with a "state owned" competitor in the remaining GM brands.; Reply to this comment


by make_or_break June 7, 2009 6:36 AM PDT: According to Roger Penske, his group is still working out who will ultimately build the cars sold under the brand. 'Saturn' will be a brand, not an actual car manufacturer (much like Apple doesn't make its own MP3 players); someone else (maybe GM, but it's just as likely to be some manufacturing firm in China) will be doing the actual heavy lifting. But unlike Apple, even the design and engineering could be outsourced. The car company may be 'American', but the products may easily be off-shore.

One other thing, Penske's much more than a mere face for that company of his...and he's not exactly a spring chicken. Saturn's going to take some time to get going, particularly as the current Saturn lineup gets long-in-the-tooth; is Penske himself going to be around to see this through?; Reply to this comment

Search Car Tech

About The Car Tech blog

CNET's Car Tech blog covers the latest developments in the automotive industry, with commentary on car stereos, hybrid and concept cars, GPS, and much more. The Car Tech blog offers the latest news and reviews from CNET's Car Tech reviews channel.