Friday

Penske Buys Saturn

The Penske Auto Group has inked a deal with GM to buy Saturn. Included in the deal will be the brand itself, the parts inventory, and the right to distribute the Saturn vehicle line, which GM apparently will continue to build for another 2 years.

In addition to moving things along for GM, it also means a big sigh of relief for the roughly 360 Saturn dealers who General Motors had announced would be orphaned if a sale did not occur.

A Chinese company has announced its intention to buy the Hummer operation, But that still leaves Pontiac to contend with as GM keeps heading to a leaner operation that it hopes will be more profitable too.

There's no word yet on whether the sales would mean that the new owners would continue to honor the old GM warranties but under bankruptcy law the sales could occur in such a way that all old warranty rights were liquidated. Or not. We'll have to wait and see.

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