Penske to Buy Saturn?

Roger Penske's Automotive Group has struck a tentative agreement with GM to purchase -- lock stock and barrel -- the auto giant's Saturn division. This means that Penske will "take over the brands, trademarks, service and parts operations and distribution operations related to the Saturn." In an Edmunds-exclusive interview with AutoObserver's Michelle Krebs, Penske explained details of the plan.

Immediate product changes call for dropping the Sky roadster, leaving the Aura, Vue and Outlook as the only showroom offerings. Penske, looking to make Saturn a global automotive company, understandably would like more vehicles for the brand. Down the road, the dealership mogul will supposedly strike deals with GM and Renault to purchase other vehicles in order to beef up the Saturn lineup.

Though the deal is tentative at this point, it looks very likely to happen. The price was not disclosed though the deal is said to preserve about 13,000 jobs.

Posted by

John DiPietro June 5, 2009, 10:15 AM

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