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Penske Backs Out of Saturn Deal; Brand to Wind Down

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(PAG) has terminated its discussions with General Motors Company to acquire the Saturn brand, citing concerns directly related to the future supply of vehicles beyond the supply period it had negotiated with GM. Today’s disappointing news comes at a time when we’d hoped for a successful launch of the Saturn brand into a new chapter.

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Penske Seeking to Buy Saturn

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and Penske Automotive Group confirmed details of a proposed transaction under which Penske would acquire the Saturn brand. If completed, the deal would save more than 350 dealerships and 13,000 jobs at Saturn and its retailers in the United States, and would preserve the Saturn brand. General Motors Corp. Earlier post.)

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GM Evaluating Offers for Saturn; Fiat Eyeing GM Europe in Addition to Chrysler

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General Motors issued a short statement announcing that it is proceeding to the next step with respect to the sale of Saturn. A number of potential buyers have surfaced and expressed interest in the Saturn brand and retailer network.

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SAE International selects GM’s Larry Nitz for Edward N. Cole Award for Automotive Engineering Innovation

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He will receive the award during the SAE 2016 World Congress in April. He was deeply involved in developing clutch-to-clutch transmission controls for the Saturn Automatic and GM Allison transmissions used in Heavy Duty Trucks. Nitz, GM Executive Director, Global Propulsion Systems, is the winner of the Edward N.

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GM recalling 656 Cadillac ELR extended range electric vehicles over calibration of Electronic Brake Control Module

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Meanwhile, GM has decided to replace the ignition switch in all model years of its Chevrolet Cobalt, HHR, Pontiac G5, Solstice and Saturn Ion and Sky in the US, since faulty switches may have been used to repair the vehicles. About 95,000 faulty switches were sold to dealers and aftermarket wholesalers.

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GM Suspending 2010 Malibu Hybrid Production; Next-Generation Li-Ion Mild Hybrid Expected for 2011

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The Malibu hybrid shares components with two other GM mild hybrids: the Saturn Aura and Vue hybrids. Service and warranty of existing Malibu hybrids will be unaffected by the decision, as the company has an adequate supply of replacement components, including the 36/42V battery packs.

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GM boosting investment at Spring Hill by $167M for two future mid-size vehicles

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GM Spring Hill Manufacturing, home to the former Saturn brand from 1990 to 2007, operates as a fully integrated complex. Chevrolet Equinox production began at the site in the third quarter of 2012 to meet growing consumer demand and support GM’s Canada operations.

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