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(Image from article: "General Motors to shut down Saturn")

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General Motors to shut down Saturn

General Motors Co. said Wednesday it would shut down its Saturn division after an agreement to sell it to Penske Automotive Group Inc. fell apart.

GM reaches deal to sell Saturn brand to Penske

General Motors Corp has reached a preliminary agreement to sell its Saturn brand to Penske Automotive Group in a deal that could preserve more than 350 dealerships and 13,000 jobs, the companies said on Friday.

Renault, Geely in Talks With GM

GM is in talks about turning its Saturn division over to Renault. Separately, China's Geely Automobile has submitted a bid to acquire GM's Saab unit.

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