GM to Close Saturn After Penske Deal Collapses
After its deal with Penske Automotive Group Inc. collapsed, General Motors announced late Wednesday that it will begin winding down the Saturn brand and its dealership network.
After its deal with Penske Automotive Group Inc. collapsed, General Motors announced late Wednesday that it will begin winding down the Saturn brand and its dealership network.
Penske Automotive Group Inc. today announced that it has terminated its discussions with General Motors Company to acquire the Saturn brand, citing concerns directly related to the future supply of vehicles beyond the supply period it had negotiated with GM.
General Motors Corp. and Penske Automotive Group confirmed last Friday a tentative deal for GM to sell its Saturn brand to the dealer group.
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