General Motors has agreed to sell its Saturn brand to the Penske Automotive Group according to sourses close to the deal.
Penske Automotive owns the second-largest U.S. automobile retail chain in the country as well as being a key distributor for the Smart car. Penske also owns heavy-duty engine manufacturer Detroit Diesel and has race teams in the IndyCar, NASCAR and Grand-Am series.
GM is selling Saturn, which has some of the highest customer satisfaction ratings as part of its bankruptcy restructuring plan.
According to the AP:
"Initially GM would continue to make cars for Saturn, but Penske would
also sign deals with other automakers to manufacture vehicles for the
brand, said both people, who asked not to be identified because the
plans have not been made public."
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