No more Saturn automobiles. The deal with Roger Penske has fallen through.
This from AP:
GM to shut down Saturn after Penske walks away
DETROIT (AP) — General Motors Co. said Wednesday it would shut down its Saturn brand after an agreement with Penske Automotive Group Inc. to acquire it fell apart.
Penske, citing concerns of whether it could continue to supply vehicles after a manufacturing contract with GM ran out, ended talks with GM Wednesday to acquire the brand.
GM CEO Fritz Henderson said in statement that Saturn and its dealership network will be phased out.
In a statement, the Bloomfield Hills, Michigan-based auto retailer says an agreement with another manufacturer to continue producing Saturn vehicles after GM stopped making them fell through, leading Penske to terminate talks with GM.
Wednesday, September 30, 2009
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