Penske Expresses Concern

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Roger Penske

Today it was confirmed that Roger Penske is indeed interested in Saturn. However, at this point it is only an "interest." He has not officially offered a proposal to GM. In a statement offered to the press, he expressed concern over General Motors' short deadline to sell off the brand. Earlier today, Detroit News reported that GM, under the advisement of S.J. Girsky & Co. will be accepting proposals of potential buyers until early June with the hopes of securing a deal by the end of the third quarter. Read Penske's statement as shown on AutomotiveNews.com:

"While I confirm that we have an interest in looking at the future opportunities of the Saturn brand, Penske Automotive has not made a proposal to General Motors for this business, and the timeframe involved is extremely tight," Penske said in a conference call today. "We buy and sell dealerships as part of our normal operations, we have the experience in the distribution business and are constantly looking for opportunities to grow our business and further diversify the operation of Penske Automotive Group."

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