Penske walks away from Saturn deal, brand to "wind down"

coolmazda5 · 09-30-2009, 06:04 PM

Saturn fans will be saddened to hear that the brand is about to be history. Penske Automotive Group (PAG) and General Motors have been in the final stages of negotiations to transfer the brand, but late this afternoon, both parties issued statements that Penske was walking away from the deal.

The reason cited by Penske for the deal's demise is difficulty in securing a supply of product beyond the end of 2010. GM had agreed to continue supplying the Outlook, Aura and Vue until the end of next year, at which point Penske would get other automakers to produce vehicles to sell through the Saturn dealer network.

It was originally believed that Penske had a deal with Renault, possibly supplying vehicles from its South Korean subsidiary, Renault-Samsung Motors. However, the other automaker's board of directors rejected the deal, leaving Penske out in the cold. In the wake of the news, GM announced that it would wind down Saturn and close all the dealerships. After Saturn dealers close, Saturn owners will be able to get service from other GM dealers. You can read the official statements from both Penske and GM chronicling the demise of Saturn

[Autoblog]

skylar2ups · 09-30-2009, 07:23 PM

I'll only miss the Opel GT, I mean the Sky.

JC-MP5 · 09-30-2009, 07:40 PM

Quote:

Originally Posted by skylar2ups

I'll only miss the Sky.

+1

Sooo good looking.

skylar2ups · 09-30-2009, 09:44 PM

Quote:

Originally Posted by JC-MP5

+1

Sooo good looking.

The only thing I thought looked wierd was the doors how they were rounded from the Opel but still it's the only thing I ever ugh... questioned. It only looks odd on the lighter colors at least to me. (I Hate the Solstice.)

Kymerik · 10-01-2009, 08:48 AM

I'm glad to see them go

CorkSport · 10-01-2009, 10:54 AM

It is a bit saddening to see them go. I feel bad for all of the people losing their jobs.

Derrick

altspace · 10-03-2009, 08:22 AM

More than 13,000 jobs will be lost. Sad though, they were trying so hard to become a competitive brand. I remember when I attended the NY Auto Show and the Saturn brand was first introduced in the country.

sparkplugs · 10-03-2009, 06:54 PM

I hate to see more people lose their jobs. It just keeps getting worse....

09-30-2009, 06:04 PM	#1
coolmazda5 Look Mom, A Real Clutch! Donated: $15 Mazda5 & Hybrid Mazdas Moderator Join Date: Oct 2006 Location: Wawa Land (NE US) Posts: 4,448	Penske walks away from Saturn deal, brand to "wind down" Saturn fans will be saddened to hear that the brand is about to be history. Penske Automotive Group (PAG) and General Motors have been in the final stages of negotiations to transfer the brand, but late this afternoon, both parties issued statements that Penske was walking away from the deal. The reason cited by Penske for the deal's demise is difficulty in securing a supply of product beyond the end of 2010. GM had agreed to continue supplying the Outlook, Aura and Vue until the end of next year, at which point Penske would get other automakers to produce vehicles to sell through the Saturn dealer network. It was originally believed that Penske had a deal with Renault, possibly supplying vehicles from its South Korean subsidiary, Renault-Samsung Motors. However, the other automaker's board of directors rejected the deal, leaving Penske out in the cold. In the wake of the news, GM announced that it would wind down Saturn and close all the dealerships. After Saturn dealers close, Saturn owners will be able to get service from other GM dealers. You can read the official statements from both Penske and GM chronicling the demise of Saturn [Autoblog] __________________ - 2006 Mazda5, 5MT Sport, Carbon Gray, Popular Package, OEM Fogs. OEM Cargo Cover - 2008 Mazda5, 5MT Sport, Stormy Blue Mica, Popular Package, Aux Input, TPMS, The Thule Roof Rack Works, *MAZDASPEED* Shift Knob [How to Search & Post]

09-30-2009, 07:23 PM	#2
skylar2ups "Vroum-Vroum" Join Date: Jul 2008 Location: Orlando, Florida Posts: 1,141	I'll only miss the Opel GT, I mean the Sky. __________________ ____________ Last edited by skylar2ups; 10-01-2009 at 10:09 AM.

10-01-2009, 08:48 AM	#5
Kymerik Registered User Join Date: Jan 2008 Location: Cincinnati, OH Posts: 2,019	I'm glad to see them go __________________ 2003.5 MP5 - Sold 2004 VW Golf TDI - Current ride

10-01-2009, 10:54 AM	#6
CorkSport 2010 Mazdaspeed 3 Authorized Vendor Join Date: Mar 2004 Location: Vancouver, WA Posts: 1,092	It is a bit saddening to see them go. I feel bad for all of the people losing their jobs. Derrick __________________ CorkSport www.twitter.com/corksport Mazda Performance

10-03-2009, 08:22 AM	#7
altspace josh is the name Donated: $10 Photo & Video, Detailing, Auto News, & NEPOC Moderator Join Date: Jul 2004 Location: Cape Cod Posts: 14,304	More than 13,000 jobs will be lost. Sad though, they were trying so hard to become a competitive brand. I remember when I attended the NY Auto Show and the Saturn brand was first introduced in the country. __________________ My Blog: Mazda RX-8 GT

10-03-2009, 06:54 PM	#8
sparkplugs Registered User Join Date: Oct 2009 Posts: 3	Too Bad... I hate to see more people lose their jobs. It just keeps getting worse.... __________________ Community Forums - Employment Forums - Home Improvement Forums

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