Penske Automotive Group acquiring Saturn from GM
June 6th, 2009 Leave a comment Visited 26 times, 1 so far today
Penske Automotive Group acquiring Saturn from GM
US based auto giant GM has announced that they are now going to sell their Saturn brand to Penske Automotive Group.
Penske Automotive Group chairman Roger Penske is one of the biggest automobile dealers in the US market.
The two companies did not reveal the financial aspects of this deal.
This is great news for the fans of Saturn branded cars as the brand is now practically saved.
GM had earlier announced that they were going to shut down Saturn by 2012 if they could not find a buyer for it.
This is also one of the major steps taken by GM as it cut expenses to stay competitive. The company recently filed for bankruptcy protection.
GM said that the Saturn brand had attracted as many as 16 bids.
Automobiles, Cars, General Motors, GM, Penske Automotive Group, Roger Penske, Saturn, USA
Sukhdeep Verma
Category: Automobiles
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