DETROIT — General Motors has reached a tentative deal to sell the Saturn brand and distribution rights to Penske Automotive Group, which also has the U.S. distribution rights for Smart. GM agreed to continue to supply the Saturn Aura, Outlook and Vue to Penske. The Saturn Sky roadster will die.
Terms of the deal, which is expected to close in the third quarter, were not disclosed.
Penske is acquiring the rights to the Saturn brand name and individual nameplates, as well as the Saturn distribution, service and parts operations.
"Saturn has a passionate customer base and an outstanding dealer network," said PAG Chairman Roger Penske. "For nearly 20 years, Saturn has focused on treating the customer right. We share that philosophy, and we want to build on those strengths."
Saturn began selling cars in 1990. Its original mission was to help GM attract import buyers. It now appears that the "new" Saturn will eventually become an import brand, with Penske discussing the possibility of selling vehicles from Renault Samsung Motors in Korea.
Inside Line says: The Saturn brand should be in good hands with Penske. — Anita Lienert, Correspondent
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