General Motors is expected to announce later this morning that it has reached a tentative deal with Detroit auto tycoon Roger Penske to buy the Saturn brand and dealer network.
Negotiations between General Motors Corp. and the Penske group could continue into the weekend before a memo of understanding is reached, according to a source familiar with negotiations.
A sale would add to Penske's storied automotive career and cap a historic week for GM, which filed Chapter 11 bankruptcy Monday and announced a tentative deal Tuesday to sell its Hummer brand to Chinese-based Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd. GM also is phasing out or selling its Saab and Pontiac brands.
AutoSpies.com Photo Galleries
If you want to see your photos running on our homepage photo ticker, be sure to upload your photos on the go by sending them to Mobile@AutoSpies.com
There are photos and then there are AutoSpies.com photos!
AutoSpies.com is ranked number one on Google search for auto shows
Share on Facebook
Read Article