Who bought the Saturn car company?
General Motors
DETROIT — General Motors announced a tentative deal Friday for Roger Penske to acquire GM’s struggling Saturn brand and distribution network.
What happened to the car company Saturn?
Saturn. General Motors halted production of its Saturn brand in October 2009 after a failed deal with the Penske Automotive Group. Under scrutiny to pay back loans and become a sustainable corporation, General Motors has been forced to streamline its brands and focus on the lines that have the most growth potential.
Does Saturn car company still exist?
Saturn cars were produced in the United States until the company disbanded in 2010. According to How Stuff Works, American auto manufacturer General Motors opened Saturn LLC as a subsidiary in 1985.
Why did Penske not buy Saturn?
It said in a statement that it believed it had an agreement with an unidentified car maker to supply Saturns and, “without that agreement, the company has determined that the risks and uncertainties related to the availability of future products prohibit the company from moving forward with this [Saturn] transaction.”
What was the last Saturn ever made?
Saturn’s last vehicle models were the Saturn Aura, the Saturn Outlook, the Sky, and the Saturn Vue. GM had continued to produce the Aura, the Outlook, the Sky, and the Vue into the 2010 model year.
Where was the first Saturn dealership in the US?
The first Saturn dealership opened in Memphis, Tennessee. Saturn Corporation was launched as a “different kind of car company”, and Saturn even had its own unique car models (although later models shared platforms with other GM vehicles to be more cost effective in the market), and their own dealership network that was separate from the rest of GM.
Are there any Saturn dealerships left in Canada?
By the end of 2009, GM closed all of its 46 Saturn dealerships in Canada, even those Saturn dealerships also selling Saab vehicles. GM and Penske decided that they could no longer make a business case to distribute Saturn vehicles in Canada after the sale of the brand.
Who is the parent company of Saturn Corporation?
Saturn Corporation. The Saturn Corporation, also known as Saturn LLC, was an American automobile manufacturer, a registered trademark established on January 7, 1985, as a subsidiary of General Motors. The company marketed itself as a “different kind of car company” and operated somewhat independently from its parent company for a time…
When did General Motors discontinue the Saturn brand?
As a result of this, General Motors announced that the Saturn brand would be discontinued in 2010, and that all Saturn dealerships would be closed by October 31, 2010, or until all of their inventory had been sold.