Penske

Saturn Deal Could’ve Been Boost for Renault-Nissan

Samsung QM5 Sport-Utility

Greg Gardner from the Detroit Free Press: French automaker Renault and Japanese partner Nissan have been trying to strengthen their position in North America since forming an alliance 10 years ago, and Detroit businessman Roger Penske's vision for Saturn seemed to be a good fit.

Collapse of Deal for Saturn Stuns GM

Tim Higgins from the Detroit Free Press: On Tuesday, General Motors Co. thought it had a deal to sell its storied brand Saturn. But Wednesday afternoon, a day before the deal was to be announced, the Detroit automaker was blindsided by the news that businessman Roger Penske's deal to acquire Saturn had collapsed. The news sent shockwaves through the GM organization.

Penske Needed Another 60 Days, Some Retailers Holding Out Hope Penske Deal Can be Revived

Chrissie Thompson and Jamie Lareau from Automotive News: Tobin Oberhoulser, sales manager at a Saturn store in Lafayette, Indiana, says he will conduct business as usual while he holds out hope that Penske Automotive Group and CEO Roger Penske will still complete the deal somehow. "I stay confident in Roger Penske," he said.

General Motors Pulls the Plug on Saturn, Ending Bold, Creative Automotive Experiment

John Pearley Huffman from Popular Mechanics: With the announcement that General Motors and the Penske Automotive Group have broken off negotiations to transfer ownership of the Saturn brand between them, the Saturn saga sadly ends. Over the next few months, GM will implement the "wind-down" agreements it has with Saturn dealers and start closing up the division.

Penske Runs into Saturn’s Historic Wall: Product

More Photos of the Renault Samsung SM3

Lindsay Chappell from Automotive News: Roger Penske's 11th-hour decision to pass on acquiring General Motors' Saturn brand marks a sad continuation of the same problem that has dogged Saturn for a decade: a lack of products. Penske had the bold proposal of keeping Saturn alive by creating a virtual automaker.

Collapse of Penske Deal Spells End for Saturn

Saturn Logo

Sharon Terlep and John Stoll from the Wall Street Journal: A deal to save General Motors's Saturn brand fell through after former race-car driver Roger Penske unexpectedly abandoned a bid to buy its network of dealers, prompting GM to say it would shut the operation down. The Penske announcement came as a "huge surprise" to dealers, GM and Treasury Department officials, according to people familiar with the matter.

Saturn Deal Collapses After Renault-Nissan Backs Out

Samsung SM3

Tim Higgins from the Detroit Free Press: General Motors said today it would shut down Saturn after respected Detroit businessman Roger Penske shocked GM and 350 Saturn dealers by saying that his plans to buy the storied brand had fallen apart. The announcement came a day before GM and its dealers expected the deal to be finalized.

Penske Breaks Off Talks with GM for Saturn, Brand to Go Away

Michelle Krebs from Edmunds Auto Observer: In a surprise move, Penske Automotive Group terminated discussions with General Motors to acquire Saturn due to its inability to secure agreements for the future supply of vehicles beyond what it had negotiated with GM. As a result, GM will wind down Saturn much as it is doing now with its Pontiac division.

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Will Your Next New Car be a General Motors Vehicle?

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It's too early to tell
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