06 June, 2009

Penske to buy Saturn

I have owned 3 Saturn models since they launched in the 90's. It will interesting to see how Penske will mold his interests in racing and retail car sales into the manufacturing arena.

General Motors announced a tentative deal Friday for Roger Penske to acquire GM's struggling Saturn brand and distribution network.

Penske's Saturn will continue to receive GM-made vehicles for two years, and is looking for another manufacturer to make vehicles that will bear the Saturn brand.

"We will have a supply of vehicles for at least two years with existing brands, and we have been in discussions during this diligence period with a number of manufacturers on a worldwide basis," Penske said Friday morning. "We would expect to have a lineup going forward, which would be manufactured by a worldwide partner."


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