GM Sells Saturn Unit to Roger Penske

Maybe Robby buying Hummer wasn't too far fetched....

GM to sell Saturn to Penske
Penske Automotive Group, owned by racecar legend Roger Penske, will buy GM's castoff brand.
By David Goldman, CNNMoney.com staff writer
Last Updated: June 5, 2009: 9:30 AM ET

NEW YORK (CNNMoney.com) -- Bankrupt automaker General Motors Corp. will sell its Saturn unit to car dealership operator Penske Automotive Group, a person familiar with the situation told CNNMoney.

Penske (PAG, Fortune 500) is owned by former race car driver Roger Penske, who owns NASCAR and IndyCar racing teams.

The sale is part of GM's strategy to shed its four "non-core" U.S. brands -- Saturn, Hummer, Pontiac and Saab -- as it restructures the company.

On Tuesday, GM (GMGMQ) announced a deal to sell its Hummer line to China's Sichuan Tengzhong Heavy Industrial Machinery Company Ltd.

There are about 400 Saturn dealers nationwide. The brand has been highly rated in customer satisfaction surveys for its no-haggle policy.

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Permalink Reply by TOG on June 5, 2009 at 9:55am

' The Miller Lite Saturn was real good in one and two, but loose in three and four. I think we will be good on Sunday "

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Permalink Reply by Mike/WC77 on June 5, 2009 at 11:29am

Not too far fetched being one of those Saturns is on the same platform as the Impala...

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Permalink Reply by Mike/WC77 on June 5, 2009 at 11:36am

Eric, unless you know something the rest of us don't...Subaru & Saturn are 2 completely diff companies. Saturn is part of GM, has been since it's inception in....91?
Subaru is on it's own island so to speak. You can always reffer your friends to look at any one of Travis Pastrana, or Ken Blocks videos on youtube. theres some tree hugging going on, but only when the trees line the course those guys are goin wide open thru.
The Michigan Sno-Drift deer is still my favorite...

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Permalink Reply by vak7 on June 5, 2009 at 10:28am

Doesn't Penske own Toyota dealerships too? With Dodge possibly pulling out again at the end of this season, he'll have options as to what car to run next year.

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Permalink Reply by Turtle7 on June 5, 2009 at 2:21pm

IMO, Penske will not be running Dodges in the Cup next year. He will be running Saturn Aura. My guess is that he will get his motors from either Hendricks or Childress thus giving NASCAR a real head fuck. All he needs is some new decals.