Related to this news, GM said it would wind down the Saturn brand and dealerships.

Penske cited concerns directly related to the future supply of vehicles beyond the supply period it had negotiated with GM.

Penske said the negotiated terms and conditions with the other manufacturer was rejected by that manufacturer’s board of directors. Without that agreement, Penske has determined that the risks and uncertainties related to the availability of future products prohibit the company from moving forward with this transaction.