General Motors has entered into an agreement with Penske Automotive Group, the nation’s second-biggest automobile dealer, to sell Saturn to Penske for an undisclosed amount. In February GM had announced its intention to shut Saturn by 2012 if no buyer could be found. It subsequently announced that it would discontinue Saturn by the end of 2009. Under the terms of the agreement Penske will buy GM’s inventory of Saturn cars together with acquiring its parts inventory and the right to sell other vehicles through the network of Saturn dealerships. The deal would save approximately 13,000 jobs at Saturn and its 350 dealerships. Penske, the second-biggest dealership group in sales owns 310 franchises around the world. It is also the sole distributor for Daimler’s Smart small cars.

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