Penske Automotive Group
Nissan-Based Smart Car Axed as Mercedes Takes Back Mini-Car Brand from Penske
The struggling Smart brand was set to get a potential savior this year with the introduction of a new four-door based on a Nissan platform. That, however, will not happen now, as part of a new agreement where Smart and Mercedes parent company Daimler has taken back distribution of its mini-car from the Penske Automotive…
Breaking: Penske Cancels Plan to Buy Saturn
Penske’s deal to buy the Saturn arm of General Motors has reportedly fallen through. Back in June the Penske Automotive Group (PAG) had announced it would buy the brand from GM, along with its dealer network. “This is very disappointing news and comes after months of hard work by hundreds of dedicated employees and Saturn…
Breaking: Penske to Close Canadian Saturn Dealers
According to a recent report on CBC Radio’s French website Radio Canada, the Penske Automotive Group plans to close all the Saturn dealers in Canada once its deal to buy the brand from General Motors is complete. At one time there were 60 Saturn dealers in Canada, but half of those dropped out of the…
Report: Penske In Talks With Renault to Sell French Cars As Saturns
If all goes as planned the Penske-owned Saturn brand could be selling rebadged vehicles from French automaker Renault in the U.S. Thought to be a wild rumor at first, Renault has now confirmed that Penske has in fact approached the automaker to supply both parts and cars. Currently Penske Automotive Group has a tentative deal…
Kia Asking Saturn Dealers To Consider Selling Korean Cars
While GM has reached a deal with Penske to sell off its Saturn brand, the future for dealers is anything but certain and Korean automaker Kia is hoping to capitalize on that. Kia dealerships are often in either rural areas or less popular urban areas because land in high-traffic and densely populated urban areas is…
GM’s Next Volt-Style Plug-In Hybrid Could Be a Buick Crossover
The next General Motors product to get a plug-in hybrid powertrain, like the one that will be introduced in the Chevy Volt, may be a Buick. This new PHEV (Plug-in Hybrid Electric Vehicle) was supposed to be a version of the Saturn Vue, but as GM has now sold off the Saturn brand to the…
Pontiac To Offer the Vibe (and Nothing Else) in 2010
The 2010 model lineup for the soon-to-be-terminated Pontiac brand will consist of just one model – the Vibe. Recently GM interim CEO Fritz Henderson reiterated the company’s position that the G8 would not carry on as either a Buick, Chevy or Cadillac. The G3 and G5 will also cease production this year, while the G6…
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General Motors Agrees to Sell Saturn Brand to Penske
General Motors has reached an agreement with the Penske Automotive Group on the sale of its Saturn brand. An official announcement is expected to be made by both parties later today. The Penske Automotive Group was thought to be one of the front-runners in the bidding war, which also reportedly included Nissan/Renault, Mitsubishi and investment…
GM Says It Has 16 Different Buyers For Saturn, Three for Saab
With news of a tentative deal to sell off Hummer coming yesterday, GM still hasn’t made any decisions about its Saturn or Saab brands – but apparently it has plenty of offers to entertain. GM CFO Ray Young said that Saturn has as many as 16 suitors, while the Swedish Saab brand has three. The…
Mitsubishi Latest Candidate to Buy Saturn
Oddly, it seems as though Saturn is far more interesting and far more loved as the up-for auction arm of a doomed for bankruptcy company than it ever was as regular old car brand. To date the Penske Automotive Group, automaker Nissan/Renault and investment firm Telesto Ventures have all been cited as potential buyers. Now…
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