Roger Penske On the Verge Of Buying Saturn

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.


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Agent009 - 6/5/2009 10:18:20 AM

+2 Boost

Actually it is now official.

vman9282 - 6/5/2009 10:22:57 AM

0 Boost

Saturn's coming to Nascar soon?!?!?! haha that would be classic..."Racer X driving the new Saturn Aura takes the checkered flag"

toolatetorace - 6/5/2009 10:57:21 PM

+1 Boost

Yes, Tony wants to be on the home team . I loved it when he said in an interveiw when he was driving a toyota and made mention to the Home Depot ,,, "car ", not the Home Depot toyota or any other make that the drivers mention during an interveiw . You could tell already that there was disention already brewing

bfghemicuda - 6/5/2009 11:48:56 PM

+1 Boost

Me to

Whelan - 6/5/2009 12:37:59 PM

+1 Boost

I enjoyed my two Saturns when I had them. A 1992 SL1 manual no power options. And a 1994 Saturn SL1 5spd, with full power. Fun little car, easy to work on and keep clean. And dent resistant polymer panels was an awesome thing to have. Not to mention I learned a lot of DIY stuff from toying and personalizing the car with the engine, stereo, appearance, etc. Nobody made things for Saturns so we were on our own a lot of the time.

www.saturnspot.com
www.spswebpage.com SPS (Saturn Performance Specialists)

r_driver04 - 6/5/2009 1:56:55 PM

+3 Boost

SLs were good cars. And yes, everybody paid sticker because the markup in Saturns has always been very very low. They deal on your trade, not on the Saturn. It's pretty basic. That's why so many people liked them until GM bastardized them.

thstone - 6/5/2009 6:55:51 PM

+2 Boost

I had a top of the line SL2! Great car. The 16v engine was a little rough but liked to rev and was plenty fast for an inexpensive FWD sedan. The car was very reliable through 240,000 miles and although not as smooth or refined as most of the Nissan's or Toyota's that I've owned, it was still an excellent car and a great value. I'd have bought another Saturn if GM would have stayed the course and let Saturn independently develop its own vehicles. Sharing GM platforms was the beginning of the end for Saturn.

GM should have kept Saturn and invested in it. Saturn was the only hope that GM had in competing with Honda/Toyota/Nissan. Re-badged Opels have no hope here.

tango - 6/5/2009 7:54:13 PM

+1 Boost

Does Roger Penske know what he is doing? Go to Wiki and search for his name, have a look at what you find and then ask yourself that question again.