Penske Automotive proposes acquisition of Saturn from GM
Penske Automotive Group officially discloses its plans to acquire the Saturn 
brand from General Motors. If the deal will be sealed, the Saturn brand will be spared along with 13000 jobs and 350 plus dealerships across the United States.
The move is part of the viability plan submitted by GM to the federal government to fulfill its commitment to rebuild the company. In effect, Penske will own the Saturn brand together with some other assets of Saturn. GM will still produce units like the Aura, Vue, and Outlook based on their contracts.
Penske is considered the second largest dealer group in the U.S overseeing 156 franchises nationwide and about 148 in other countries.
The specific plans for the Saturn brand have not been revealed by the Penske Automotive Group. The founder of the firm though plans to retain the general manager of Saturn and retire its co-president.
Posted in GM, Penske Automotive, SaturnTags: GM, Penske Automotive, Saturn