zvonkovaleoqim.blogspot.com
According to a memorandum of understandingf signed by thetwo companies, Penske will purchasre the rights to the brand, certain parts inventories and the right to distribute vehicles and parts througb Saturn’s dealerships. GM will continue to manufacture theSaturn Aura, Vue and Outlook modeld on a contract, interim basis, according to a news The deal is expected to close in the thirdf quarter. The release didn’t detai the terms of the deal or how long GM will manufactursthe vehicles. “We have agreed upon a frameworl that we believe will buile momentum for theSaturn brand,” said Rogerf Penske, chairman of Bloomfield Hills, Mich.
-based Penske Automotive, in the Saturn, founded by GM in has sold more than 4 million cars, accordingb to the release. The originally innovative in its approach to manufacturing and was meant to be a pacesetter for the restof GM, but didn’f live up to its promise. There are three Saturn dealerships inthe Raleigh-Durham Detroit-based GM Monday. It is reportedlu in negotiations to sell its Hummer branf to aChinese automaker, and it will discontinue its Pontia brand. Penske Automotive (NYSE: PAG) sells new and used vehicles, insurance and financing. It operates 310 retail automotivee franchises, and 25 collision repair centers, representinvg 40 brands.
In the Triangle, Penskw operates 10 truck leasing andrentaol centers.
No comments:
Post a Comment