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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Invitation Extended to Dealers

Saturn of Decatur

Today Saturn's 350 dealerships will receive a letter from corporate headquarters extending them an invitation to join the Penske Automotive Group. The letter will not contain a franchise agreement or any other legally binding contract. According to Saturn spokesman Steve Janisse "It's just an informational piece talking about the terms of the sale and offering them an opportunity to transition to this new owner." Janisse also told Automotive News that dealerships that decline the invitation will be transitioned into "termination mode."