Report: Renault, Nissan Discuss Supply Deal With Saturn and Penske

David Pearson from the Wall Street Journal: Renault confirmed last week that it and its Japanese alliance partner Nissan are discussing a commercial deal to sell cars to Saturn, the former General Motors unit that was taken over by Penske Automotive Group (PAG) last month. Renault's chief operating officer Patrick Pelata told an an analysts' meeting that PAG Chief Executive Roger Penske is looking to forge commercial alliances with other car manufacturers. "He is looking for cars to sell. He has looked at all car makers, and he has seen that Renault has a nice line-up, sharing power trains with Nissan that are obviously adapted to the U.S. market."

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Breaking News: Bush to Offer $17.4 Billion in Loans

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Justin Hyde from the Detroit Free Press Washington Staff: The Bush administration will offer General Motors and Chrysler loans totaling $17.4 billion in return for strict conditions mirroring those proposed by Senate Republicans last week. Those terms include not only the conditions agreed to by congressional Democrats, but new limits sought on the UAW contracts including matching wage and benefits of foreign automakers with U.S. plants by the end of next year.