Tue 6 Oct 2009
A $250 million grant from the American Recovery and Reinvestment Act (ARRA), could easily resolve the late breaking issues that prompted the unexpected, last minute collapse of the proposed Penske Automotive Group (PAG) purchase of Saturn, according to Todd Ingersoll, Saturn’s Retailer Council member.
Fri 2 Oct 2009
Today we learned that Penske Automotive Group (PAG) has decided to terminate discussions with General Motors to acquire Saturn. This is very disappointing news and comes after months of hard work by hundreds of dedicated employees and Saturn retailers who tried to make the new Saturn a reality. PAG’s announcement explained that their decision was not based on interactions with GM or Saturn retailers; rather it was because of the inability to source new products beyond what it had asked GM to build on contract.
Tue 1 Sep 2009
Roger Penske’s purchase of General Motors Saturn division promises to give the struggling brand new life, but the company’s Canadian operations apparently won’t be along for the ride. According to a new report, the new Penske-led Saturn will exit the Canadian market.
Wed 29 Apr 2009
Along with Saturn, GM will lose just over a quarter of its hybrid sales when the ailing Detroit automaker ends production of the brand with the 2009 model year lineup. According to Automotive News, with the end of Saturn, GM will have a tough time keeping a decent corporate average fuel-economy.
Thu 25 Dec 2008
Just before the Detroit Three presented their loan guarantee/bailout proposals to Congress, Motor Trend learned that General Motors would shift Opel’s design language from Saturn to Buick. Now we know why.
In the short period between the credit crisis beginning in mid-September and the Capitol Hill appearance in December, GM hatched a plan to weed down its eight North American divisions. It will try to sell Saab and says it’s progressing on a deal to sell Hummer. It will “explore alternatives” for Saturn.