Penske in talks with GM to buy Saturn brand

by Suzanne Ashe

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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

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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.; Like this 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?; Like this Reply to this comment

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