Saturn will not have a new life as part of Penske, the company that, among other things, distributes Smart cars in the U.S. Talks between Penske and GM fell apart today, and so did any chance for a deal.
Until today, Penske and GM were in exclusive talks.
On Wednesday, Penske said its deal with the company it planned to buy future vehicles from was rejected by that company’s board. “Without that agreement, the company has determined that the risks and uncertainties related to the availability of future products prohibit the company from moving forward with this transaction,” Penske said in a statement.
G.M. said it will honor the warranties of all Saturn vehicles through other G.M. dealerships.
Hummer and Saab have found new homes, but it sounds like Saturn won’t be so lucky. Sorry, loyal Saturn owners.
G.M. to Close Saturn After Penske Pulls Out of Deal [NY Times]
No Penske deal means end of the road for Saturn [Consumer Reports Cars]