GM Unloads Saturn Unit to Penske

June 5, 2009

(ChattahBox)—Racecar legend Roger Penske believes he can reinvigorate the once popular Saturn brand of vehicles, which boasts 4 million satisfied buyers since 1990. The bankrupt General Motors just announced its selling the rights to its Saturn unit to the Penske Automotive Group that runs a string of car dealerships.

This deal comes as a relief to the nearly 350 Saturn dealers and the more than 13,000 Saturn employees who stood to lose their jobs. The deal retains the manufacturing rights to GM of the three highest selling models, including the Aura sedan, the Vue and some models of the Outlook.

GM would stop producing all other models of Saturn vehicles by 2011.

The deal is expected to become finalized sometime in October.

Roger Penske plans to continue with the Saturn philosophy of no haggle pricing and treating the customer right and he plans to add to Saturn’s models over time.

Penske also would keep on Jill Lajdziak, Saturn’s general manager and offered former Chrysler President Tom LaSorda a top position in the new Saturn Company.

I miss the now iconic Saturn ads from the 1990s, it’s a good thing, in the words of Martha Stewart, the brand is not going to disappear.

Source


Comments

2 Responses to “GM Unloads Saturn Unit to Penske”

  1. ace on June 5th, 2009 1:42 pm

    Where does a company like GM with no money, end up buying a company with 2 billion dollars? This FAKE bankruptcy is a farce. GM is paying workers to leave, paying workers not to build cars, buying billion dollars Delphi, but yet they are cashless. WE are being ripped off, next real GM bankruptcy will be soon, but not before us US taxpayers have lost 70+ billion wasted dollars. Please stop this fraud by the Treasury.

  2. Information Desk on June 5th, 2009 6:20 pm

    Former race car driver turned automotive dealership magnate Roger Penske plans to buy Saturn from General Motors. This article explains how Penske plans to turn it into a new kind of car company.

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