Roger Penske owner of one of the largest groups of auto dealers in the nation and a multi-time championship racecar owner has inked a deal to buy the Saturn brand from General Motors. The move comes less than a week after GM declared Chapter 11 bankruptcy after pressure from the U.S. government. Terms of the deal were not disclosed nor was a date when the purchase would become official.
Will this be good for Saturn? We for think so. Penske says he'll be offerings dealers a new franchise agreement and, at least for the foreseeable future, all 13,000 Saturn employees will retain their jobs.