Penske kills Saturn deal

Posted by Iannucci | 10/01/2009 | | 1 comments »
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After further consideration, Roger Penske has decided he does not want to buy Saturn - the car company, not the planet (which he may still one day acquire) - effectively bringing an end to the auto manufacturing brand.

General Motors will close Saturn and wind down its dealership network after a deal to sell the faltering brand to Penske Automotive Group collapsed, the automaker said Wednesday.

The breakdown of a deal that had been widely expected to close this week will force some 350 Saturn dealerships to close and could cut thousands of auto retail jobs that would have been preserved under a plan by auto magnate Roger Penske.

(MORE from CNBC)
Rest in peace, oh plastic-door and fixed price innovator. I shall remember you well, mourning the loss of any possible cross-promotional advertising with Helio Castroneves.


  1. W. H. "Skip" Free // October 02, 2009 3:04 PM  

    I am somewhat disappointed at the disappearance of the Saturn, having owned one back in the 90's. While underpowered (an SL-1 sedan, circa 1995), it was a VERY reliable car and built far better than most that I've bought out of Detroit.

    For example, I had a problem with the car exactly once. It had had a nut come off of a valve. In most Detroit cars, this would have been a new engine, according to my mechanic. With my Saturn, however, it was simply a matter of replacing the nut, something that the mechanic still claims is "unheard of." The repair was under $100.

    When my wife and I looked at cars last year, we had looked long and hard at the Sky roadster; the only reason we did not buy was the lack of a Saturn retailer anywhere near Myrtle Beach.