Saturn Closing

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.

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Bob Lutz to Retire at the End of 2009

Bob Lutz to Retire at the End of 2009

Robert A. Lutz, GM Vice Chairman – Global Product Development, will transition to a new role effective April 1, 2009 as Vice Chairman and Senior Advisor. Lutz, 77, will provide strategic input into GM's global design and key product initiatives until his retirement at the end of 2009. He will continue to report to Wagoner.