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Old 09-30-2009, 10:18 PM   #1
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Default General Motors to Wind Down Saturn Brand After Penske Halts Talks

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General Motors to Wind Down Saturn Brand After Penske Halts Talks

Quote:
Mike Ramsey and Bill Koenig from Bloomberg: General Motors will close Saturn, the brand created 24 years ago to mirror Japanese companies' carmaking, after Penske Automotive Group broke off discussions to buy the unit. Penske, operator of 310 auto retailers, backed out because of concern it wouldn't have access to cars and sport-utility vehicles after 2011 when GM was due to stop supplying them, Penske said in a statement. Renault SA's board rejected a deal to build cars for Saturn, a person familiar with the talks said.

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