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Penske Saturn deal nears completion

Posted by Bill Sluben on September 29, 2009

The tentative deal that was struck back in June to sell Saturn from GM to Roger Penske appears to be completed.  And that is great news and opportunity for what was once one of Detroit’s most iconic automotive brands.

What this news signals is that Penske will continue production of the Saturn Aura, Sky, Vue and Outlook (perhaps under a different badge?) and save the 350 or so Saturn dealerships out there that employ 20-30 Saturn people each.  That saves an approximate 10,000 jobs.

The big question with Mr. Penske’s takeover will be one of where does the Saturn brand go from here…or does it even continue on?  In other words, is this really a play to save the Saturn brand, or is it simply a strategic manuever to buy a distribution network to sell a cache of unrelated brands under?  Time will tell…

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