News comes today that, after last night’s rumors, General Motors will announce the sale of its Saturn unit to Roger Penske’s Penske Automotive Group later today. Though Penske will initially sell GM-built and designed Saturns, the brand could eventually import Saturn-badged vehicles built by other automakers.
GM and Penske have signed a memorandum of understanding to sell the Saturn unit. No price tag has been confirmed.
“This is the combination of two iconic teams: Saturn and Penske,†said Saturn general manager Jill Lajdziak in a statement. “GM had the vision to create Saturn and has the desire to see it succeed in the future.â€
“Saturn has a passionate customer base and outstanding dealer network,†said Penske in the same statement, which was released by GM. “For nearly 20 years Saturn has focused on treating the customer right. We share that philosophy, and we want to build on those strengths.â€
Fourth Detroit automaker?
The deal will see GM giving Auburn Hills, Michigan-based Penske Saturn’s dealership network, but no factories, meaning the new automaker will need to source vehicles from other manufacturers.
GM confirmed that Penske will buy Aura, Vue (pictured) and Outlook models from GM on a contract basis for at least the near future. This could mean that the Spring Hill, Tennessee, plant that builds the Chevrolet Traverse might not be idled in November after all. Production of the Traverse, a platform mate of the Outlook, was expected to move to GM’s Delta Township, Michigan, plant, where it would presumably have taken the place of the Saturn variant on the assembly line. It’s not expected that the Traverse, Outlook, GMC Acadia and Buick Enclave could all be built at Delta Township.
The slow-selling Saturn Sky and Astra won’t be sold by Penske.
A Penske-owned Saturn could eventually buy cars from Renault-owned Samsung Motors of Korea, which sells Samsung-badged vehicles based on Nissan designs, several reports have indicated. It is not expected that Penske would continue selling GM-engineered Saturn vehicles for the long term.
Penske would not likely distribute Smart vehicles through Saturn outlets due to contractual obligations to Mercedes-Benz . Penske merely acts as a U.S. distributor for the small cars.
