350 Saturn dealers to get an offer letter from Penske, agree or enter ‘termination mode’

About 350 Saturn dealers will be receiving a letter this week offering them a chance to continue under the brand’s new owner, Penske Automotive Group. Owner Roger Penske signed an agreement to purchase Saturn from GM by the end of the third-quarter of 2009.

“This doesn’t require them to sign an agreement,” spokesman Steve Janisse said. “It’s just an informational piece talking about the terms of the sale and offering them an opportunity to transition to this new owner.”

Janisse told Automotive News that if Saturn dealers choose not to proceed, then they will go into “termination mode.” He said that Saturn waited to provide dealers with information on how to go forward because it first had to secure an MOU with Penske.

– By: Omar Rana