Saturn Deal Didn’t Meet Renault’s Return Requirement

Sharon Terlep from the Dow Jones Newswires: Auto magnate Roger Penske believed he was taking over General Motors' Saturn brand until the very last moments, when France's Renault shocked both Penske and GM by backing out of an agreement to provide vehicles. Penske addressed the failed deal Friday as he announced Penske Automotive Group's quarterly financial results. The company also disclosed it took a $1.9 million third-quarter charge on the Saturn deal. "We believed we were making substantial progress toward an agreement," Penske said during a conference call with investors. At the last minute, he said, Renault decided the Saturn venture "did not meet their return requirement." Under their novel agreement, Penske would have taken over GM's network of Saturn dealers. The auto maker would have continued producing Saturn vehicles for about two years after which time Renault would take over production.

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Did Buick’s SUV Announcement Hint at New Powertrain Options for the 2011 Saturn Vue?

Buick "Vue" Teaser Photo

Last week General Motors announced Buick would begin selling a new compact crossover in 2010. Later in 2011, the vehicle will feature the company's state-of-the-art plug-in hybrid technology. The Buick will be launched with two of fuel-efficient direct-injected gasoline engines: Ecotec 2.4L direct-injected four-cylinder engine with an optional 3.0L direct-injected V6. GM says the 2.4L will deliver 30 miles per gallon or more on the highway, a modest statement since the redesigned and just released 2010 Chevrolet Equinox with the same powertrain earned a 32 mpg rating by the EPA.