http://investors.penskeautomot...l.cfm?ReleaseID=412840
the Penske deal fell through, there will be no more Saturn brand cars made after the current deal is up, in 2011 i think
http://www.allheadlinenews.com...0%20Jobs%20Jeopardized
the Penske deal fell through, there will be no more Saturn brand cars made after the current deal is up, in 2011 i think
http://www.allheadlinenews.com...0%20Jobs%20Jeopardized
Detroit, MI (AHN) - The Penske Automotive Group (PAG) is no longer buying General Motors' Saturn brand after partnership negotiations fell apart, the Detroit-based firm announced Wednesday.
The development cast a pall of gloom on 350 Saturn dealers and some 13,000 of their workers, who now stand to lose their jobs as GM returned to its original plan to stop making the car this year if no buyer is found.
GM and Saturn dealers were expecting businessman Roger Peske to close the purchase deal this week and the news came as a shock to them.
Peske issued a statement citing PAG's deal with a third party was rejected by its board of directors.
Last June, Peske offered to buy Saturn giving dealers and their employees hope to keep their businesses and jobs.