Following Penske Automotive’s termination of talks with General Motors to acquire Saturn, the Detroit automaker has halted production of the brand’s cars and crossovers and plans to sell the thousands of units left in its inventory within the next four months.
GM said that many of the vehicles were built to supply Penske Automotive. GM spokeswoman Sherrie Arb said that GM built the last Saturn within 24 hours of Penske’s statement made last week.
GM said it has about 12,000 Saturn units in its inventory; it’s unclear how man of those are 2009 models.
“We sold about 3,000 Saturns last month, so that’s about a four-month supply if you maintain that selling pace,”said Mark LaNeve, GM’s vice president of U.S. sales. “I don’t think [the canceled sale of the brand] will affect our total 2010 production rate at all.”
– By: Kap Shah