|
Penske aims to complete Saturn deal
Penske aims to complete Saturn deal by September
Posted Thursday, Jul 30, 2009, 2:19 pm in Employee News
Penske Automotive Group plans to complete a deal to buy Saturn from General Motors Co. by the end of September, the chairman of the No. 2 auto dealership chain said on Wednesday, Reuters reported.
Roger Penske also said that he was considering using the Saturn brand for vehicles sold outside North America, but was focused first on the U.S. market and potentially Canada, the story said.
“I think that we’re past midfield with GM. There are always issues that you have to deal with, but I think we’re progressing well,” Penske told analysts on a conference call to discuss quarterly financial results on Wednesday. “We’ve said that our goal is to close this transaction by the end of September, and we’re prepared to do that.”
Penske declined to discuss what other automakers the new Saturn would consider as partners to supply vehicles after a deal with GM expires, the news service said. Under the terms of the tentative deal between GM and Penske, the automaker would supply Saturn with Aura sedans, Vue SUVs and Outlook crossover vehicles until at least 2011, the story said. (Reuters/Automotive News)
__________________
Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
|
Linear Mode
