Report: GM to announce Saturn sale to Penske this week


According to news coming out of Detroit, General Motors Company will announce Wednesday or Thursday that it has completed the sale of Saturn to Penske Automotive Group. GM has not confirmed the report.

Roger Penske has previously said that Saturn dealers will sell GM made models for at least three years through their current lifecycle and will eventually sell vehicles from other part of the world by offshore manufacturers.

Penske is shopping for other products that could fill Saturn dealerships in the next 12 to 18 months. Sources say that we can expect vehicles from French automaker Renault and its South Korean Samsung unit.

On a side note, Saturn executive Jill Lajdziak, who has been involved with Penske group to close the Saturn sale, has reportedly requested an early retirement package and will not be joining Penske.

– By: Stephen Calogera

Source: AutoObserver