Green Car Congress
OCTOBER 1, 2009
Penske Automotive Group, Inc. 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. Fritz Henderson.
Green Car Congress
JUNE 5, 2009
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.)
Green Car Congress
MAY 4, 2009
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.
Green Cars News
MAY 6, 2009
Having already taken the decision to close its Pontiac brand, General Motors has now announced that it will proceed with the sale of Saturn. In a separate story Fiat has said it will explore the possibility of merging its auto business and interest in Chrysler with GM Europe in an effort to create a large group worth more than $100billion.
Green Car Congress
JUNE 11, 2009
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.
Green Car Congress
MAY 5, 2009
Prototype Saturn Vue PHEV plugging in to a Coulomb Chargepoint ( earlier post ) in San Jose, CA. Based on the current restructuring plan, GM is accelerating the wind-down or sale of Saturn to the end of this year. Click to enlarge. of Energy (DOE) and nonprofit Electric Power Research Institute (EPRI). Earlier post.). Earlier post.).
Green Car Congress
FEBRUARY 18, 2009
Saturn will remain in operation for the next several years, through the end of the planned lifecycle for all Saturn products. In the interim, if Saturn retailers or other investors present a plan that would allow a spin-off or sale of Saturn Distribution Corporation, GM would be open to any such possibility.
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