Home | News | Road Tests Penske To Give Saturn A Spin Production of the Saturn Sky (above) is to be discontinued by GM. Hence, it won't be in the Saturn line-up when the Penske deal is complete. Home > News > GM > Saturn 8th June, 2009 General Motors Corp. and Penske Automotive Group confirmed on Friday some details of a proposed transaction under which Penske would acquire the Saturn brand from GM. The brand, which is only available in North America, is wholly owned by General Motors. Saturn was to have been dumped by the financial troubled GM by the end of this year. The proposed transaction is part of GM’s rebuilding efforts outlined in the viability plan that was submitted to the U.S. government earlier this year. Under the terms in the memorandum of understanding, Penske would obtain the rights to the brand as well as certain other Saturn assets. GM would continue production, on a contract basis, of the Saturn Aura, Vue and Outlook. “This is the combination of two iconic teams: Saturn and Penske,” said Saturn general manager Jill Lajdziak. “GM had the vision to create Saturn and has the desire to see it succeed in the future.” “Saturn has a passionate customer base and outstanding dealer network,” said Roger Penske, chairman of Penske Automotive Group. “For nearly 20 years Saturn has focused on treating the customer right. We share that philosophy, and we want to build on those strengths.” Saturn began selling cars in 1990 and has sold more than 4 million vehicles. More than 80 per cent of those vehicles are still in operation, according to data from RL Polk. Saturn has regularly scored among the industry leaders for non-luxury brands in customer satisfaction surveys. “There has been a groundswell of support for Saturn, with our retailers and owners urging us to save the brand,” said Lajdziak. “We heard their call loud and clear, and it inspired us as we worked to secure Saturn’s future.” The transaction is expected to close in the third quarter of this year and is subject to customary closing conditions and regulatory approvals. Financial terms of the agreement will not be disclosed at this time. Hear Chris Goodsell Talk Motoring On Radio & Internet ..... more More Saturn News ..... here More General Motors News ..... here About | Car Clubs | Home | News | Road Ramblings | Road Tests | Subscribe | Top Drive ©   2009   All rights reserved.   Next Car Pty. Ltd.