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Penske Backs Out

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Penske Backs Out

Penske and GM both issued statements today about the fallout of their deal for Saturn. Penske withdrew its plans to purchase Saturn citing they had problems getting a third party to supply Saturn with cars. After the pull out GM announced that it would not be seeking other buyers for the brand and would begin preparing dealers with the new terms. We don’t yet know how long MG will continue to feed Saturn with cars, not too much longer we assume. 

Saturn Line Up

Saturn Line Up

Penske and GM both issued statements today about the fallout of their deal for Saturn. Penske withdrew its plans to purchase Saturn citing they had problems getting a third party to supply Saturn with cars. After the pull out GM announced that it would not be seeking other buyers for the brand and would begin preparing dealers with the new terms. We don’t yet know how long MG will continue to feed Saturn with cars, not too much longer we assume. 

It is sad to see that the deal turned out this way as we were genuinely excited to see what Penske could do with its own car brand.

Adam Moore

Adam was one of the founding members of txGarage back in 2007 when he worked for a Suzuki dealership in Dallas, TX. He is now our Publisher and Editor-in-Chief. He's always been into cars and trucks and has extensive knowledge on both. Check Adam out on twitter @adamaoc.

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