GMC had announced earlier in the year that it would continue to manufacture Saturns until 2011 but in April they stated they were looking to sell or close the brand.
In June, negotiations began with Roger Penske, and his company Penske Automotive Group Inc, to sell off Saturn. In the deal Penske would get roughly 350 dealerships and 13,000 employees. The deal, which was supposed to close today, fell through because Penske could not find a manufacturer to provide the vehicles. GM had previously agreed to continue producing the vehicles until 2011, and after that Penske and Saturn would be on their own. Penske had a tentative deal with a third, unnamed auto company, but that company’s board of directors rejected the agreement, bringing the entire deal to its knees.
GM will stop producing Saturns as soon as possible and will phase out its dealerships. Saturn owners can still receive service at a Saturn Dealership or any GM certified dealer after the closures.