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NINETY EIGHT REGENCY

Penske aims to complete Saturn deal by September

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DETROIT, July 29 (Reuters) - Penske Automotive Group (PAG.N) plans to complete a deal to buy Saturn from General Motors Co [GM.UL] by the end of September, the founder and chairman of the No. 2 auto dealership chain said on Wednesday.

Roger Penske also said that he was considering using the Saturn brand for vehicles sold outside North America, but was focused first on the U.S. market and potentially Canada.

"I think that we're past midfield with GM. There are always issues that you have to deal with, but I think we're progressing well," Roger Penske told analysts on a conference call to discuss quarterly financial results on Wednesday.

"We've said that our goal is to close this transaction by the end of September, and we're prepared to do that," he said.

Penske declined to discuss what other automakers the new Saturn would consider as partners to supply vehicles after a deal with General Motors expires.

more at link:

http://www.reuters.com/article/rbssRetailS...929013320090729

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I sort of wish Penske would take the initiative to not rebadge and build original cars for Saturn. Hopefully it's in the cards and he'll do just that one day soon.

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I sort of wish Penske would take the initiative to not rebadge and build original cars for Saturn. Hopefully it's in the cards and he'll do just that one day soon.

We still don't know what the vehicles will be. I'm sure it's safe to say that at least initially they'll be based off of existing vehicles, but Penske may still dictate appearance and performance specs. Almost all the vehicle-specific info out there right now is still just speculation.

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