Confirmed: Penske Group Buying Saturn

Well, that report yesterday was accurate! Saturn is saved, bought by a well-heeled buyer with a proven track record. Saturn fans should be quite excited about this development. I thought it was pretty unlikely that the brand would find a buyer that would keep it open and business given it's volume brand status and the economic situation.

As part of the deal, GM will continue making the Saturn Aura, Vue and Outlook on a contract basis. This is a huge benefit to GM as well, getting revenue from production as well as proceeds from the sale of the brand. The Sky roadster and Astra hatchback will be cut however, as expected. The Sky might be sold to an separate buyer and the Astra has consistently been a slow seller for the brand.

The deal with Penske Group saves 350 Saturn dealerships and 13,000 jobs, no small figure. It's a good thing the dealers have worked to keep up advertising and the like during this time of doubt about the brand, because it has helped still keep things in a positive light.

I wish Saturn all the best of success under new ownership. Some reports have said that vehicles from Renault's Korean division Samsung Motors could be imported under the Saturn brand to add to the existing GM sourced vehicles. Whether GM will help design next-generations of the Aura, Vue and Outlook when it's time, we don't know. At least we know that Saturn is saved, and that's an excellent thing for everyone.