Saturn dealers throughout the US were saddened after Penske Automotive Group pulled out of negotiations to acquire Saturn, a segment of General Motors. Saturn's fate is gloomy as GM said that the brand will be discontinued.
The termination of the talks has taken the dealers by surprise since it was expected that a deal would be entered this week and that Saturn will be revived under Penske's management.
After months of hard work by Saturn's employees and retailers, Penske actually decided to stop negotiations "because of the inability to source new products beyond what it had asked GM to build on contract."
To clarify what happened, General Motors released a statement. GM said that PAG's decision was not based on interactions with GM or Saturn retailers.
GM will then be winding down the Saturn brand and dealership network according to the wind-down agreements that Saturn dealers recently signed with GM. If you're a Saturn owner and worried on where your vehicle will be serviced, here's what to expect.
During this process, Saturn customers can continue to have their vehicles serviced at Saturn retailers. If you want to purchase a Saturn car, this will be your last chance to buy one before supplies are depleted. As soon as the wind-down is complete, Saturn owners can have their vehicles serviced at other GM dealerships.
GM said that it will be communicating with its customers soon to explain the next steps in this process. GM said that the disappointing news came at a time when it had "hoped for a successful launch of the Saturn brand into a new chapter."
GM said that it will be working closely with its dealers to ensure Saturn customers are cared for as it transitions them to other GM dealers in the months ahead.