Saturn Deal is Called a New Business Model

Tim Higgins from the Detroit Free Press: Jack Nerad of Kelley Blue Book heralded the Penske-Saturn deal as "one of the most significant developments in a month that has been full of significant developments. The proposed acquisition marks the beginning of a new business model in this industry, a model in which the distribution side of the business controls the brand, and manufacturing is conducted by one or more sub-contractors." Penske Automotive Group is in talks with several automakers about providing new vehicles to the Saturn dealer network. Penske's deal with General Motors, which has not yet been finalized, provides him with GM-made vehicles for two years. "We have been in discussions during this diligence period with a number of manufacturers on a worldwide basis," Penske told reporters Friday. "We would expect to have a lineup going forward, which would be manufactured by a worldwide partner."

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June 2009 Saturn Sales Down 60%

Saturn stores delivered 7,520 vehicles in June, down 60.2% from the same time last year when sales consultants sold 18,912 cars and crossovers. Year-to-date sales are down 58.1% to 42,776 units. The Outlook was the only model in Saturn's lineup to record a sales increase last month.