BREAKING: GM Confirms Penske as Saturn Buyer, Says Production of Aura, Vue and Outlook Will Continue

Confirming an earlier report this morning, General Motors has announced that it has reached a preliminary agreement with Penske Automotive Group for the sale of the Saturn brand. The financial terms of the deal were not disclosed but GM said that it expects the close the transaction in the third quarter of this year. The American automaker said that if completed, the deal will save more than 350 dealerships and 13,000 jobs at Saturn and its retailers in the United States.

Under the agreement, Penske, the second-largest retailer in the States, would obtain the rights to the brand as well as certain other Saturn assets while GM would continue production, on a contract basis, of the Saturn Aura sedan, Vue SUV and Outlook SUV - yes, the Astra and Sky Roadster are 'dead'.

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

Smart Distributor Reported to Have Won Bid for GM's Saturn Brand

The Penske Automotive Group, a car retailer that operates mostly in the U.S. and the UK and has the distributing rights for Daimler's Smart cars in the States, is the winning bidder for GM's Saturn unit, Bloomberg reported Friday morning. Citing a an unnamed source close to the negotiations, the news agency said that Penske will pay a price of $100 million to $200 million and that the deal may be announced as early as today. Earlier this week, General Motors announced that it had reached a preliminary agreement to sell Hummer to China's Sichuan Tengzhong Heavy Industrial Machinery Co. while the U.S. automaker that is currently reorganizing in Chapter 11 also plans to sell its Saab division.

VIDEO: Inside Camera Shows New Opel Astra on the Track

GM's Opel unit has released another video of the new Astra hatchback. This time we get the chance to see car through an inside camera during testing at Opel's test center on the site of a former military airfield located in Pferdsfeld, 80 kilometers west of the automaker's Rüsselsheim headquarters. The video footage also gives us a quick glimpse of the 2010 Astra's interior, photos of which have yet to be revealed to the public. The new Astra will make its world debut at the Frankfurt Auto Show in September with the first example of the car arriving in European showrooms this fall.

source: http://carscoop.blogspot.com

Fresh /// Le premier vendeur Saturn ferme

Tout le monde le sait, Saturn, marque jeune et dynamique de chez GM, est condamnée. Les concessionaires vont en conséquence fermer leurs portes ou du moins se réorienter. C'est le cas de la première concession historique de la marque qui arrêtera lundi ses activités "Saturn".

La concession de Jake Sweeney, située dans une banlieue de New York, a ouvert ses portes il y a 19 ans, en novembre 1990 exactement. Ce qui en fait le tout premier vendeur officiel de la marque américaine. Elle arrêtera définitivement de vendre des Saturn lundi. Tout un symbole.

A cette date, le concessionaire proposera à la place des Mazda dans ce show-room. L'entretien des véhicules Saturn sera par ailleurs toujours assuré.

Source: WCPO