As part of its restructuring agreement with bankruptcy officials, GM announced that it has found a buyer for its Saturn brand, Penske Automotive. At an estimated price between $100 and $200 million, Penske plans to offer new contracts to the existing 350 Saturn dealerships, effectively preserving 13,000 jobs. According to Jill Lajdziak, Saturn's general manager, Penske plans to align itself with GM to continue production of the Aura sedan and Saturn's two crossovers, the Vue and Outlook for the next two years.

The Penske group says it intends to perpetuate the Saturn line as a brand known for fuel economy and being made in America. They also plan to take over the GM parts facility in Spring Hill, Tenn to manufacture parts for the network. Penske has a 60 day period in which they are to perform all audits and asset investigation associated with GM's bankruptcy filing before acquiring Saturn.

Automotive News reports that Penske also wants to distribute Renault vehicles it imports from South Korea in the Saturn dealership network. Penske dealership outlets are also the exclusive U.S. distributor of the Smart mini-car. Penske is in an optimal position with several partnership options to assure that the acquisition of Saturn will benefit all participants.