GM Closes Saturn

Detroit just can’t catch a break. General Motors announced Wednesday it will close Saturn after Penske Automotive Group changed its mind and refused buy the brand. In June, Penske had agreed to buy Saturn (sans manufacturing operations) but decided against it due to concerns over where it would acquire the vehicles after GM stopped making them. GM is also closing down Pontiac and selling Saab and Hummer lines as part of its bankruptcy reorganization in July. Some of the 350 Saturn dealers had pressed GM to make the Penske deal, which was seen as saving 13,000 jobs.