LAST AUTO NEWS – GM SELLS SATURN TO PENSKE
Last Auto News –
Score accession one for GM’s turnaround plan. Just canicule afterwards affective to advertise its Hummer cast to a Chinese architecture accessories manufacturer, General Motors has reportedly accomplished an acceding to advertise its Saturn brand.
CNN reports, “Bankrupt automaker General Motors Corp. will advertise its Saturn assemblage to car dealership abettor Penske Automotive Group.”
Former chase car drive Roger Penske’s aggregation is currently the second-largest publicly-traded automotive banker in the U.S., operating added than 300 dealerships in nineteen states, Germany and Puerto Rico. The aggregation sells cars bogus by added than 30 automotive brands, from tiny Smart microcars to million-dollar Bugatti supercars.
It will also, apparently, abide to advertise cars fabricated by GM. CNN reports, “The accord would accord Penske the rights to the 19-year old brand, but GM would abide assembly of the Saturn Aura, Vue and Outlook.”
MarketWatch notes, “In addition, Penske will bang deals with assorted automakers, including GM and Renault SA, acceptance him to buy cars from those companies’ factories to ample out the Saturn car portfolio, it said.”
The Wall Street Journal explains, “Mr. Penske will initially buy Saturn cars from GM that are already allotment of the Saturn calendar but eventually will annex out to acquirement cars from Renault and its Korea-based Samsung Motors unit. Other auto makers could aswell be allotment of the arrangement.”
Penske’s plan for the Saturn cast appears to resemble one a accumulation of Saturn dealers discussed beforehand this summer, which would see about about-face Saturn dealerships into big-box appearance retailers for cars. It may be possible, in a few years time, to airing into a Saturn dealership and see a baby car bogus by a Chinese automaker, a midsize car fabricated by a European brand, and an SUV congenital by GM – all awash as Saturns.
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