Sep 30th, 2009 by Ross Edwards
General Motors announced on Wednesday that it will be closing Saturn after a deal to sell the company to Penske Automotive fell through, according to the Associated Press. Penske Automotive had planned to keep Saturn’s current lineup until the cars were ready to be retired, then replace them with vehicles sourced from another manufacturer. Unfortunately, Penske couldn’t secure a deal with another manufacturer, and had to back out of the deal.
The Penske deal was the last hope for the “different kind of car company,” which will now be closed. 350 Saturn dealerships will close and 13,000 jobs will be lost when Saturn shuts down.
“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,” GM CEO Fritz Henderson said.
Saturn pioneered the ‘no haggle’ car buying experience, but if you’re in the market for a new car, you should definitely consider taking advantage of the great deals that will start popping up on Saturns as the company begins the shutdown process. As word spreads that Saturn will be closing, the company’s cars and SUVs should be available with a hefty discount.
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[…] Skeptics of the deal had argued that although Saturn had high customer-satisfaction ratings, the brand did not sell well because the the cars themselves weren’t all that great. But for devotees, the end of Saturn’s “no-haggle” guarantee could have a final upside, according to the PriceWheels Blog. […]