Penske to Purchase Saturn from GM
June 6, 2009 by Stephen Kersey
Filed under Business
Penske Automotive Group is closing in on a deal that will purchase the Saturn brand from General Motors. In addition to the brand, Penske Automotive Group will also acquire the Saturn parts inventory and receive the rights to distribute their products through the network of current Saturn dealerships. GM will also continue making the Outlook, Vue and Aura vehicles for a set amount of time on a contractual basis.
Of the current 13,000 Saturn workers, Penske Automotive Group expects to keep all the workers employed. They also don’t plan to shut down any of the current 350 Saturn dealerships.
Said Roger Penske of Penske Automotive Group: “We have agreed upon a framework that we believe will build momentum for the Saturn brand. Saturn has a passionate customer base and outstanding dealer network. 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, which came into existence in 1990, has sold in excess of four million vehicles since its inception. Compared to other brands, Saturn has routinely received high in customer satisfaction surveys.
According to Jill Lajdziak, the general manager of Saturn, the brand is excited to team with Penske Automotive Group.
“This is the combination of two iconic teams: Saturn and Penske,” said Lajdziak. “GM had the vision to create Saturn and has the desire to see it succeed in the future.”
Roger Penske has big plans for Saturn (Image: Flickr)
