By now, most of you know that Penske Automotive Group has terminated its discussions with GM to buy Saturn. According to a report by Automotive News, some Saturn dealers say they will look for other franchises now that Penske has canceled plans to acquire Saturn. Others say they will wait and see if Penske revives the deal.
“I guess I’ll be selling the competition,” said George Nahas, who owns Saturn stores in Alabama and Florida. He said that some import brands want him to carry their products.
Following Penske’s statement, GM’s CEO Fritz Henderson said that the company will wind down the Saturn brand and its 350 dealer network through a process to be finalized in the near future.
It was reported earlier today that Penske failed to finalize a deal with Renault and its South Korean unit, Samsung, to supply Saturn dealers with vehicles.
– By: Omar Rana