Penske

GM to Close Saturn After Penske Ends Talks

From the Associated Press via MSNBC: GM will stop making Saturns as soon as possible, but no layoffs are expected, said spokeswoman Sherrie Childers Arb. GM had stopped building the Aura midsize sedan in Kansas City, Kansas, and will not resume assembling them. Production of the Outlook large crossover near Lansing, Michigan, and the Vue small crossover vehicle in Ramos Arizpe, Mexico, will be phased out as soon as possible, she said.

General Motors to Wind Down Saturn Brand After Penske Halts Talks

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.

GM Says it Will Close Saturn After Sale Falls Through

Ken Bensinger from the LA Times: General Motors' deal to sell Saturn to the Penske Automotive Group has fallen through, forcing the automaker to shutter the brand altogether. The sale had been expected to be completed as soon as this week.

Penske Calls Off Saturn Deal with GM

From the Detroit News: Detroit tycoon Roger Penske has terminated a deal with General Motors for the Saturn brand after Penske's prospective provider of new vehicles pulled out. The deal broke down after the Renault-Nissan Alliance decided Wednesday not to proceed with a deal to supply Penske with future vehicles for Saturn dealers, according to a source familiar with the discussions.

GM President & CEO Fritz Henderson: Penske Discussions Terminated, Brand to be Shutdown

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General Motors Media Statement Attributed To President & CEO Fritz Henderson: Today we learned that Penske Automotive Group (PAG) has decided to terminate discussions with General Motors to acquire Saturn. This is very disappointing news and comes after months of hard work by hundreds of dedicated employees and Saturn retailers who tried to make the new Saturn a reality. PAG's announcement explained that their decision was not based on interactions with GM or Saturn retailers.

Penske Automotive Terminates Discussions with General Motors to Acquire Saturn

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Penske Automotive Group today announced that it has terminated its discussions with General Motors to acquire the Saturn brand, citing concerns directly related to the future supply of vehicles beyond the supply period it had negotiated with GM.

Developing Story: Penske Backs Out of Deal, General Motors to Close Saturn

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With negotiations expected to finalize tomorrow, Roger Penske shockingly announced to GM and the public today that he is backing out of the deal after failing to secure a manufacturer for the brand. For a couple of months now, Penske has been courting Renault-Nissan in an effort to outsource a model for the Saturn brand.

Detroit Free Press: Penske to Close Saturn Deal Wednesday, Jill Lajdziak Said to be Retiring from GM

Tim Higgins from the Detroit Free Press: Detroit businessman and booster Roger Penske is on track to close a deal to buy General Motors' Saturn division on Wednesday, the Free Press learned today. The official announcement could come Thursday. Several signs point to a final deal soon: Jill Lajdziak, Saturn's general manager, has asked for an early retirement package from GM, an indication that she is leaving, a person familiar with her decision said.

Retailers Have Plenty of Resolve

Saturn of Decatur

Tom Walsh from the Detroit Free Press: At Saturn of Warren, general sales manager Kevin Bilski said people were stunned in December when GM said it would sell or discard Saturn. "It was like being told your parents don't love you anymore," he said. But folks perked up a few months later when Roger Penske expressed interest in Saturn. Penske hasn't closed the purchase deal with GM yet or gone public with his plan for the brand's future, "but just that name Penske brings a lot of positive press," Bilski said. "GM never knew what to do with Saturn. We were the redheaded stepchild," said Carl Galeana, 57, vice president of the Galeana Auto Group that his father, Frank, founded in 1974.

It Really is a Different Car Company

Steve Finlay from Ward's Dealer Business: The GM-Penske deal that saves Saturn is considered good news for an industry seeing too much unpleasantness lately, from vehicle sales in a free fall to auto makers in bankruptcy. But few people realize the full implication of the reprieve. One who does is Jack Nerad, Kelly Blue Book's executive market analyst and editorial director.

Random Article from the SaturnFans.com Archives

How to Save $12,000 by Buying a 2008 Saturn Vue Green Line Hybrid

From GlobeandMail.com: The Vue hybrid interested me for a couple of reasons. First, it's an all-new model for 2008. Second, Canada's auto journos — the Automobile Journalists Association of Canada — voted it best new vehicle in its class. By the way, that was a decision that took me by surprise and appeared to even to shock GM Canada's people. But there you go.