iOS app Android app

Saturn Cars

Regulators Probing Gear Shift Trouble With GM Cars

AP | TOM KRISHER | Posted 01.14.2012 | Detroit

DETROIT — Federal safety regulators are investigating problems with the automatic shift levers on several General Motors cars because drivers ma...

GM Discounts: Saturn, Pontiac Cars Get $7000 Rebate

AP | Posted 05.25.2011 | Business

NEW YORK — General Motors Co. is offering deep discounts on its remaining Saturn and Pontiac vehicles as it looks to move the leftover inventory...

GM to shut down Saturn after Penske walks away

AP | KIMBERLY S. JOHNSON | Posted 05.25.2011 | Home
Read More: Saturn Cars, Home News

DETROIT — General Motors Co. said Wednesday it would shut down its Saturn brand after an agreement with Penske Automotive Group Inc. to acquire it fell apart.

Penske, citing concerns of whether it could continue to supply vehicles after a manufacturing contract with GM ran out, ended talks with GM Wednesday to acquire the brand.

GM CEO Fritz Henderson said in statement that Saturn and its dealership network will be phased out.

"This is very disappointing news and comes after months of hard work by hundreds of dedicated employees and Saturn retailers who tried to make the new Saturn a reality," Henderson said in a written statement. "PAG's announcement explained that their decision was not based on interactions with GM or Saturn retailers."

In a statement, the Bloomfield Hills, Mich.-based auto retailer says an agreement with another manufacturer to continue producing Saturn vehicles after GM stopped making them fell through, leading Penske to terminate talks with GM.

GM to shut down Saturn after Penske walks away

AP | KIMBERLY S. JOHNSON and TOM KRISHER | Posted 05.25.2011 | Home

DETROIT — General Motors Co. said Wednesday it would shut down its Saturn division after an agreement to sell it to Penske Automotive Group Inc. fell apart.

The Bloomfield, Mich. dealership headed by auto racing magnate Roger Penske walked away after it was unable to find a manufacturer to supply vehicles to it after a contract with GM runs out in 2011.

A tentative deal for Saturn was announced on June 5. Penske was to get Saturn's 371 dealers and promised to retain the 13,000 Saturn employees. The proposed price was never disclosed.

GM CEO Fritz Henderson said in statement that Saturn and its dealership network will be phased out.

"This is very disappointing news and comes after months of hard work by hundreds of dedicated employees and Saturn retailers who tried to make the new Saturn a reality," Henderson said in a written statement. Penske's announcement "explained that their decision was not based on interactions with GM or Saturn retailers."

GM to shut down Saturn after Penske walks away

AP | KIMBERLY S. JOHNSON | Posted 05.25.2011 | Home

DETROIT — General Motors Co. says it's shutting down the Saturn brand after an agreement with Penske Automotive Group Inc. to acquire the unit fell apart.

Penske, citing concerns about whether GM could continue to supply vehicles after a manufacturing contract with the automaker ran out, ended talks with GM Wednesday to acquire the brand.

GM CEO Fritz Henderson said in statement that Saturn and its dealership network will be phased out.

In a statement, the Bloomfield Hills, Mich.-based auto retailer says an agreement with another manufacturer to continue producing Saturn vehicles after GM stopped making them fell through, leading Penske to terminate talks with GM.

In June, Penske agreed to take over the Saturn brand and related dealerships. GM agreed to produce the vehicle for a limited period of time.

GM to shut down Saturn after Penske walks away

AP | KIMBERLY S. JOHNSON and TOM KRISHER | Posted 05.25.2011 | Home

DETROIT — General Motors Co. said Wednesday it would shut down its Saturn division after an agreement to sell it to Penske Automotive Group Inc. fell apart.

The Bloomfield, Mich. dealership headed by Roger Penske walked away after it was unable to find a manufacturer to supply vehicles to it after a contract with GM runs out in 2011. A tentative deal for Saturn was announced on June 5.

GM CEO Fritz Henderson said in statement that Saturn and its dealership network will be phased out.

"This is very disappointing news and comes after months of hard work by hundreds of dedicated employees and Saturn retailers who tried to make the new Saturn a reality," Henderson said in a written statement. Penske's announcement "explained that their decision was not based on interactions with GM or Saturn retailers."

Shares of Penske fell $1.79 or 9.3 percent to $17.39 in after hours trading. They rose $1.32, or 7.4 percent to $19.18 in regular trading Wednesday.