MAKE/MODEL


YEAR


ARTICLES

-
www.flickr.com
This is a Flickr badge showing public photos and videos from cartype.com. Make your own badge here.
CT Broadcast
Cartype on Kindle
Cartype on Twitter

RSS RSS FEEDS

Subscribe to our web feeds:

 
 

Saturn sold to Penske

Filed under:  Brand Related
 
Comment(s): 0
 
 

June 5, 2009.
General Motors Corp. and Penske Automotive Group today 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 customer-focused Saturn brand.


saturn 3

The proposed transaction is part of GM’s rebuilding efforts outlined in the viability plan that was submitted to the U.S. government earlier this year. Under the terms in the memorandum of understanding, Penske would obtain the rights to the brand as well as certain other Saturn assets. GM would continue production, on a contract basis, of the Saturn Aura, Vue and Outlook.

“This is the combination of two iconic teams: Saturn and Penske,” said Saturn general manager Jill Lajdziak. “GM had the vision to create Saturn and has the desire to see it succeed in the future.”

“Saturn has a passionate customer base and outstanding dealer network,” said Roger Penske, chairman of Penske Automotive Group. “For nearly 20 years Saturn has focused on treating the customer right. We share that philosophy, and we want to build on those strengths.”

Saturn began selling cars in 1990 and has sold more than 4 million vehicles. More than 80 percent of those vehicles are still in operation, according to data from R.L. Polk. Saturn has regularly scored among the industry leaders for non-luxury brands in customer satisfaction surveys.

“There has been a groundswell of support for Saturn, with our retailers and owners urging us to save the brand,” said Lajdziak. “We heard their call loud and clear, and it inspired us as we worked to secure Saturn’s future.”

The transaction is expected to close in the third quarter of this year and is subject to customary closing conditions and regulatory approvals. Financial terms of the agreement will not be disclosed at this time.

(source: GM)


RELATED ARTICLES
Saturn   
Saturn related emblems   
Saturn Green Line   
Saturn Red Line   
Saturn exhibits   
Saturn Point-of-Purchase   
Saturn Sky Redline : 2007   
Saturn to be sold by GM   GM To Proceed With Efforts.
LINKS
Saturn   Official site.
We Love Saturns   
Penske   Official site.
 
 
COMMENTS
There have been no comments
POST A COMMENT
Name
URL
Email
Comment
HTML tags allowed: <a> <em> <strong> <blockquote>
Spambots begone
ABOUT EDITORS CONTACT

CARTYPE STORE

-
Advertise on Cartype
-
Twitter Facebook Vimeo YouTube Flavors.me Flickr Kindle
-
-
Car Shipping Companies
Auto Transport Quotes
DIVIDER_large
-

CARTYPE STORE

Go Faster. The Graphic Design of Racing Cars. Cars That Matter Italian Racing Red Car Design Yearbook 1
-
-

NOTICE

Much of the material on this website is copyrighted. Original articles appearing herein are subject to copyright. Please don't copy stuff from the site without asking; it may belong to someone! Any trademarks appearing on this site are the sole property of the registered owners. No endorsement by trademark owners is to be construed. The products, brand names, characters, related slogans and indicia are or may by claimed as trademarks of their respective owners. Every effort has been made whenever possible to credit the sources. The use of such material falls under the Fair Use provisions of intellectual property laws.