General Motors announced it will shut down Saturn brand after falling to reach a purchase agreement with Penske Automotive Group.
Penske Automotive Group broke the deal because it was uncertain it could maintain vehicle production after its contract with GM sunsets as Penske had lost an arrangement with an unidentified automotive manufacturer to make the Saturn brand, in a company statement Penske said, "Without that agreement, the company has determined that the risks and uncertainties related to the availability of future products prohibit the company from moving forward with this transaction."
On the heels of the Penske pull-out, GM CEO Fritz Henderson wrote in a statement that Saturn and its dealership group would be phased out as GM will stop manufacturing the Saturn brand by the end of 2010.
Saturn sales fell from a
-- Killswitch Politick
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