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Penske to Keep Saturn, Smart Brands Separate

Penske has signed a memorandum of understanding that would give his dealership chain, Penske Automotive Group, Saturn's 350 dealerships, the companies said. Penske told reporters that he expects to offer all the dealers new franchise agreements and will retain all 13,000 Saturn employees for the immediate term. Neither Penske nor GM would say how much Penske is paying for the brand.

Saturn Deal is Called a New Business Model

Tim Higgins from the Detroit Free Press: Jack Nerad of Kelley Blue Book heralded the Penske-Saturn deal as "one of the most significant developments in a month that has been full of significant developments. The proposed acquisition marks the beginning of a new business model in this industry, a model in which the distribution side of the business controls the brand, and manufacturing is conducted by one or more sub-contractors."

Ready to Beat GM: Saturn to Soar by Going Solo

Vic Kolenc from the El Paso Times: Gerhard Mueller doesn't mince words when he speaks about his beloved Saturn and its relationship with General Motors. "There was a very strong political faction (within GM) that didn't like (Saturn) and sabotaged it from the beginning," said Mueller, owner of the Saturn dealerships in El Paso and Las Cruces.

Video: Saturn to See New Life

Cathy Shafran from WJRT ABC 12: Joe Serra of the Al Serra Auto Group has been working as an advisor to Roger Penske since discussions began on Penske possibly acquiring the Saturn brand. Friday morning, a bleary-eyed Serra, who had worked late into the night helping out with some final issues on the plan, shared details of a tentative pact.

It Is Official: Penske to Buy Saturn, Transform it Into a Larger Global Brand

Roger Penske

Sharon Terlep and John Stoll from the Dow Jones Newswires: Each of General Motors' 350 US Saturn dealerships will receive offers to continue selling the vehicles under a tentative deal announced Friday to sell the brand to mega dealer Roger Penske. Penske, who runs the Penske Automotive Group chain of dealers, will take over the brands, trademarks, service and parts operations and distribution operations related to the Saturn. "We will have a completely independent company, and it will be lean," Penske said in a conference call with reporters Friday.

Breaking News: Penske-Saturn Deal Could be Announced Within 24 Hours

Penske Logo

Tim Higgins from the Detroit Free Press: Detroit business lion Roger Penske, who led the city's Super Bowl preparations, downtown cleanup program and revived Grand Prix racing on Belle Isle — all while running the nation's No. 2 auto retailer — is on the verge of rescuing General Motors' embattled Saturn brand.

Report: Penske Likely to Buy Saturn

Robert Snell from the Detroit News: A group headed by Detroit auto tycoon Roger Penske is the likely buyer of the Saturn brand and dealer network. "Negotiations are literally going around the clock and we hope to have something to announce soon, but there is nothing to announce today," Saturn spokesman Steve Janisse said. The Saturn negotiations involve pairing parties interested in Saturn's dealer network with one or more auto manufacturers interested in supplying vehicles that could be sold under the Saturn name.

Cancelled Saturn Vue Two-Mode Hybrid Rated at 28 MPG by EPA

2009 Vue 2 Mode Green Line Hybrid

Colin Bird from Cars.com: Remember the Saturn Vue Two-Mode Hybrid? If you don't, you'll never know it, as this Saturn Vue model will never go on sale. The vehicle was so close to launch that the EPA even tested it: The Vue Two-Mode would have received a 27/30 mpg city/highway, 28 mpg combined rating.

Report: GM Bankruptcy Filing Expected 6am Monday

David Shepardson from the Detroit News: The White House late Sunday evening set in motion another chapter in General Motors' 100-year history when it confirmed that the Detroit automaker would file for bankruptcy Monday morning. The company, which has weathered war, intense competition and the ups and downs of the market, couldn't stay afloat without help from the government and in turn will restructure its mounting debts in federal bankruptcy court.

Random Article from the SaturnFans.com Archives

Last Chance to Win a Hybrid Saturn Vue in TotalBeauty.com's Totally Green Sweepstakes

Totally Green Sweepstakes

Who says you can't change the world? You can. According to TotalBeauty.com: "We and our partners are committed to highlighting products and actions that can help you reduce your carbon footprint while still looking beautiful and feeling great." Part of their effort is to spread the word through a contest they call the "TotalBeauty.com Totally Green Sweepstakes." Grand prize is a new 2008 Saturn Vue Green Line hybrid filled with green and organic beauty products. The contest ends June 5, 2008.