Penske Pulls Out, Saturn Now Likely Dead
Various media sources are reporting that dealership and motorsports magnate Roger Penske is pulling out of his tentative deal to acquire Saturn from GM after an unknown manufacturer declined to manufacture donor vehicles for the brand. I never completely understood Penske's business model--a dealer owns a brand that exists only to rebrand of cars from one or several separate manufacturers?--but I'm a little sad that we're not going to see him try.
Saturn has more than its share of loyal fans that will be saddened by this. I am, to understate matters slightly, not one of those people.
However, I am watching the Koenigsegg/Saab deal with some trepidation--the Swedish government is refusing to extend some loans that were central to the deal, and so the transaction is now clouded with doubt. I'll happily wave goodbye to Saturn, but the loss of Saab just might crush me. SaabsUnited, as always, is all over the story.
--Chris H.



