Penske to complete Saturn purchase from GM by September

Penske Automotive Group’s founder and chairman Roger Penske, said that his company plans to buy Saturn from General Motors Company by the end of September. He said that he was considering using the Saturn brand to sell vehicle sold outside North America, but is focused first on the U.S. and Canada, reports Automotive News.

“I think that we’re past midfield with GM. There are always issues that you have to deal with, but I think we’re progressing well,” Roger Penske said. “We’ve said that our goal is to close this transaction by the end of September, and we’re prepared to do that.”

Under the terms so far, GM will continue to supply Saturn with the Aura sedan, Vue SUV and Outlook crossover until at least 2011.

As for those that already own a Saturn or plan on purchasing one, your service and warranty will be valid through Penske. Penske would acquire the rights to Saturn and would by inventory of replacement parts to service the roughly 3.5 million Saturns on the road now.

The roughly 350 Saturn dealerships in the U.S. would remain independently owned and operated.

– By: Omar Rana