GM will terminate Saturn and its dealers

Posted on Monday, 26 October 2009 , 20:10:59 byEmil

Filed under closurepenskedealersaturngmterminationGMAmericanSaturn

GM will terminate Saturn and its dealers

Sad news from the car industry, GM, the U.S. maker announced through Fritz Henderson, its CEO that the ultimate decision here, about terminate both Saturn and its network of dealership has been finally taken.

Henderson said the decision was made because Penske Automotive - the ex Saturn suitor decided to stop all the discussions involving the acquisition. Here are excerpts from the announcement made by Henderson.

'As a result of PAG’s decision, we will be winding down the Saturn brand and dealership network, in accordance with the wind-down agreements that Saturn dealers recently signed with GM. Pursuant to the terms of those agreements, the wind down process will be determined and communicated shortly'.

'Saturn customers and owners will continue to be able to purchase and have their vehicles serviced at Saturn retailers during this process. Once the wind down is complete, Saturn owners will still be able to have their vehicles serviced at other Saturn. We will be communicating with our customers very soon to explain the next steps in this process'.

'Today’s disappointing news comes at a time when we’d hoped for a successful launch of the Saturn into a new chapter. We will be working closely with our dealers to ensure Saturn customers are cared for as we transition them to other GM dealers in the months ahead. I’d also like to thank every GM employee and Saturn retailer who worked so hard to try to make this new beginning happen for Saturn'.