General Motors Stunned by Collapse of Saturn Deal

General Motors (GM) is still coming to terms with the fact that the Saturn deal has collapsed. GM are said to be stunned that Roger Penske’s deal to purchase Saturn had collapsed. According to Freep, the news has sent shockwaves throughout the whole General Motors organization.

Fritz Henderson, GM chief executive officer issued a statement saying, “This is very disappointing news and comes after months of hard work by hundreds of dedicated employees and Saturn retailers who tried to make the new Saturn a reality.”

Saturn dealers are still filled with the hope that the brand will still be saved, GM are not that optimistic as they expect all Saturn dealerships to close by the end of next year. GM will not forget about Saturn customers once the dealerships are closed, stating that they will still offer servicing and parts.

The final deal of the Saturn brand being sold to Penske was to be announced by GM today, but Penske had trouble lining up a manufacturer. For the full details, visit Freep.com