It Is Official: Penske to Buy Saturn, Transform it Into a Larger Global Brand

Roger Penske

Sharon Terlep and John Stoll from the Dow Jones Newswires: Each of General Motors' 350 US Saturn dealerships will receive offers to continue selling the vehicles under a tentative deal announced Friday to sell the brand to mega dealer Roger Penske. Penske, who runs the Penske Automotive Group chain of dealers, will take over the brands, trademarks, service and parts operations and distribution operations related to the Saturn. "We will have a completely independent company, and it will be lean," Penske said in a conference call with reporters Friday. In addition to taking over the retail network, Penske will strike deals with various auto makers, including GM and Renault, allowing him to buy vehicles from those auto makers' factories to fill out the Saturn vehicle portfolio. GM and Penske have a memorandum of understanding signed, and the deal is considered tentative at this point. Penske declined to disclose the price tag of the Saturn deal. He said the sale is expected to preserve around 13,000 jobs. Saturn, he said, would eventually grow to a global brand with more vehicles in its lineup. Short-term plans call for keeping the Outlook crossover, Aura sedan and Vue SUV. The Saturn Sky roadster won't continue.

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Eco-Engineers from Ohio State University Win Gold at 2009 EcoCAR Competition with Modified Saturn Vue

Eco-Engineers from Ohio State University Win Gold at 2009 EcoCAR Competition with Modified Saturn Vue

Students from Ohio State University earned top honors at the 2009 finals of the EcoCAR: The NeXt Challenge competition in Toronto, Canada for their design of a Extended Range Electric Vehicle (EREV). OSU took first place out of 17 universities in the U.S. and Canada that competed in the first major milestone of this three-year competition which is sponsored by the U.S. Department of Energy, General Motors, and many others including the Government of Canada.