GM Has Allocated Funding for 2012-13 Saturn Vehicles

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Jamie LaReau from Automotive News: General Motors leaders told Saturn dealers today that funding has been allocated to build Saturn vehicles through 2012 and in some cases 2013. But they stopped short of saying Saturn would get new products and won't be killed. "We are still working through many options," but Saturn is "not going away in 30 days," said Todd Ingersoll, a Saturn dealer on the Franchise Operations Team who attended a Saturn dealer meeting at the National Automobile Dealers Association convention in New Orleans. "That is good to know."

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General Motors, Penske Outline Proposed Deal for Purchase of Saturn

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General Motors and Penske Automotive Group today confirmed details of a proposed transaction under which Penske would acquire the Saturn brand. If completed, the deal would save more than 350 dealerships and 13,000 jobs at Saturn and its retailers in the United States, and would preserve the customer-focused Saturn brand. The proposed transaction is part of GM's rebuilding efforts outlined in the viability plan that was submitted to the U.S. government earlier this year. Under the terms in the memorandum of understanding, Penske would obtain the rights to the brand as well as certain other Saturn assets.