GM has been busy ridding itself of what many call the “Bad GM”-namely, Pontiac, Hummer, Saturn, and Saab, brands that won’t be a part of the “new” GM. Pontiac is being phased out, earlier this week Tengzhong announced plans to purchase Hummer, and today, Penske Auto Group announced that it will buy the Saturn brand and its dealer network from GM. Price was not disclosed, but the deal is expected to close in the third quarter.Ã‚Â
Penske gains 350 dealers and other assets attached to Saturn. GM hails the purchase a victory in that the move will preserve 13,000 jobs. When Saturn changes hands, there will still be vehicles to buy: the Aura, Outlook and Vue will be provided on a contract basis from GM. It should be noted that in Penske Auto Group’s press release that this arrangement would only be for “an interim period.”
It is too early to know for sure what cars Saturn will sell in the future, or if Penske will use the existing dealer network to expand the availability of the Smart car (In the US, Penske operates Smart USA). Penske is rumored to be in talks with several manufacturers who are interested in having their cars sold in North America.