Breaking News: Penske-Saturn Deal Could be Announced Within 24 Hours

Penske Logo

Tim Higgins from the Detroit Free Press: Detroit business lion Roger Penske, who led the city's Super Bowl preparations, downtown cleanup program and revived Grand Prix racing on Belle Isle — all while running the nation's No. 2 auto retailer — is on the verge of rescuing General Motors' embattled Saturn brand. GM is close to selling its Saturn division to Penske in a deal that could keep the brand alive and allow a new manufacturer access to the dealer network, people briefed on the matter said today. An official announcement could occur within 24 hours. A deal to sell Saturn this week would cap a week of sweeping restructuring efforts that included GM's historic bankruptcy filing and the announcement GM planned to sell Hummer to a Chinese manufacturer.

Random Article from the SaturnFans.com Archives

Saturn Astra Set for 2007 Debut

Bob Lutz, General Motors' vice chairman for global product development, has high hopes for Saturn. The GM executive told Automotive News in a recent interview that was published this week that Saturn will be his company's hottest brand this year. Even though Chevrolet will experience the more growth in terms on the number of vehicles sold, Lutz told the magazine that among GM's eight brands, Saturn will have the largest "rapid overall percentage expansion."