Penske Automotive Group Inc. announced late today that it has ended negotiations to buy the Saturn brand from General Motors.
Penske cited concerns about what it called “the future supply of vehicles beyond the supply period it had negotiated with GM” during the due diligence process.
“The company had negotiated a definitive agreement with GM to source [...]
Chrysler’s minivan plant, Windsor Assembly, is due to resume production before the end of the month; skilled tradespeople have been asked to show up on June 8, assuming the Indiana appeal is denied.
In other news, the legendary Roger Penske has signed a memo of understanding to buy Saturn, including its 350 dealers, in a deal [...]
Tom LaSorda, who retired at the end of April as Chrysler president and vice chairman, has a new job: he has joined Penske Automotive Group as an advisor as the auto retailer considers a bid for Saturn’s distribution network.
A spokesman for Penske confirmed an earlier Bloomberg News report that LaSorda had been brought on as [...]
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