General Motors today announced that it would shut down its Saturn operations after a proposed deal with Roger Penske's Penske Automotive Group, Inc fell through. Not only does this effect Saturn's manufacturing, research and development, and engineering operations, it also means the demise of the Saturn dealership network as well.
Apparently, Penske could not find backing from GM or another manufacturer whose identity is currently unknown.
It's a real shame that yet another American automobile brand goes away and many more jobs will be lost.
Roger Penske has been involved in various business ventures for decades, including NASCAR and IRL racing. Penske is probably best known for his truck rental and lease business.
I had personally hoped that Penske could save Saturn, but it apparently couldn't be saved under the circumstances that were offered. I was even beginning to hope with Roger Penske in control of the Saturn brand, we might eventually even see Saturns represented on the race track in NASCAR. Obviously, that won't happen now.
One has to wonder what the future holds for other American brands, especially Dodge. It also makes one wonder what the future holds for NASCAR as well. In 10 years, will we still be watching Fords, Chevrolets and Dodges on the track? Or will be be watching Toyota, Nissan, Honda racing for manufacturing championships?