GM to Sell Saturn Penske

General Motors (GM) has reached initial agreement to sell its Saturn brand to Penske Automotive Group. This step will save more than 350 dealers and 13,000 workers.

This process is expected to finish in the third quarter of this year. Sales of Saturn will be the sale of both brands owned by GM after a previous sell Hummer to a company source Tengzhong Sichuan China Heavy Industrial Machinery.

Penske will get the rights to the Saturn brand and other assets. Meanwhile, GM will continue the production Saturn Aura, Vue, and Outlook-based contracts when the transaction is completed. "This is the day we have together expect, since the end of November when GM first plan viability," said Todd Ingersoll, a Saturn dealer from Connecticut. (Reuters)