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.