GM to shut down Saturn after Penske terminates talks with GM on uncertain future assembly
DETROIT (AP) — General Motors Co. said Wednesday it would shut down its Saturn brand after an agreement with Penske Automotive Group Inc. to acquire it fell apart.
Penske, citing concerns of whether it could continue to supply vehicles after a manufacturing contract with GM ran out, ended talks with GM Wednesday to acquire the brand.
GM CEO Fritz Henderson said in statement that Saturn and its dealership network will be phased out.
GM to shut down Saturn after Penske walks away
By Kimberly S. Johnson, AP Auto Writer