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Penske Backs Out of Saturn Deal; Brand to Wind Down

Green Car Congress

(PAG) has terminated its discussions with General Motors Company to acquire the Saturn brand, citing concerns directly related to the future supply of vehicles beyond the supply period it had negotiated with GM. Pursuant to the terms of those agreements, the wind down process will be determined and communicated shortly.

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GM Advises Approximately 1,100 Dealers of No Long-Term Future in GM Dealer Network

Green Car Congress

GM began contacting its dealers today regarding its long term planning, and is advising approximately 1,100 “ underperforming and very small sales volume US dealers ” that GM does not see them as part of its dealer network on a long-term basis. The actual number of dealers could vary given levels of attrition, etc.

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GM Previews First Two-Mode, Front-Wheel-Drive Hybrid Transaxle

Green Car Congress

At the recent SAE 2009 World Congress in Detroit, General Motors engineers presented the first front-wheel-drive (FWD) iteration of their two-mode hybrid transaxle, termed the 2MT70 ( earlier post ), scheduled for its first application in the Saturn 2009 VUE 2-Mode Hybrid light sport-utility vehicle later this year ( earlier post ).

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GM Releases New Viability Plan, Launches Bond Exchange; Phasing Out Pontiac

Green Car Congress

General Motors presented an updated Viability Plan that accelerates and deepens the cuts in US brands and nameplates, dealers, manufacturing operations and employees intended to enable GM North America to breakeven (on an adjusted EBIT basis) at a US total industry sales volume of approximately 10 million vehicles. billion in 2008 to $23.2

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GM and Chrysler Submit Updated Restructuring Plans; Up to $18.6B More Needed; Outlines for Product Plans

Green Car Congress

Saturn will remain in operation for the next several years, through the end of the planned lifecycle for all Saturn products. In the interim, if Saturn retailers or other investors present a plan that would allow a spin-off or sale of Saturn Distribution Corporation, GM would be open to any such possibility.

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Electric-Car Fans Rally Around the Volt - Green Inc. Blog - NYTimes.com

Tony Karrer Delicious EVdriven

People are scared that they’ll get stuck and have no way of charging the batteries, hey I have an idea why not build a wind turbine on the roof that way as you drive the turbine spins and charges the battery. April 18, 2009 1:40 am Link I drive a Saturn SL1 that has over 300K miles on it. — Tony 11. I miss my EV1.

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