Penske calls off Saturn deal, brand will close: - ModernCamaro.com - 5th Generation Camaro Enthusiasts
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post #1 of 5 Old 09-30-2009, 03:40 PM Thread Starter
 
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Penske calls off Saturn deal, brand will close:

IndyCar team owner and dealer magnate Roger Penske will not buy Saturn and the brand will be shuttered, General Motors said Wednesday.

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post #2 of 5 Old 09-30-2009, 03:40 PM Thread Starter
 
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Penske calls off Saturn deal with GM

Detroit auto icon Roger Penske has terminated a deal with General Motors Co. for the Saturn brand, because Penske could not find an automaker to supply new vehicles. The deal's unraveling dooms about 340 dealers and the Saturn brand, which appeared to be saved this summer when Penske announced he had reached a memorandum of understanding with GM.


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post #3 of 5 Old 09-30-2009, 03:40 PM Thread Starter
 
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Penske Automotive nixes plans to buy Saturn

Penske Automotive Group announced this afternoon that it has canceled plans to buy GM's Saturn brand. GM followed with an announcement that it will be winding down Saturn.


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post #4 of 5 Old 09-30-2009, 06:46 PM
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WTF!?
First Pontiac now SATURN!?



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post #5 of 5 Old 09-30-2009, 11:08 PM
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Meh, too bad... Didn't really see this ending well. Renault was going to sell their cars here as Saturns as part of this deal... These cars would supposedly compete directly with Nissan.... Renault owns Nissan. Maybe it was a good choice on Penske's part.

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