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Penske Automotive will buy Saturn from GM

IndyCar team owner and Detroit businessman Roger Penske has an agreement with General Motors to buy the Saturn brand, it was announced Friday. The proposed deal could close in the third quarter, and GM would continue to build the Saturn Aura, the Vue and the Outlook on a contract basis for Penske Automotive Group, which is the nation

GM posts $6 billion loss, burns $10.2 billion in cash as sales fall

General Motors, facing a June 1 U.S. restructuring deadline to avoid bankruptcy, posted a $6 billion net loss in the first quarter and burned through $10.2 billion in cash as global auto sales plunged. GM had $11.6 in cash reserves on March 31, down from $14.2 billion at the end of the fourth quarter.

MG Special Editions Close To Selling Out

GOOD news for fans of the MG brand, as the firm has announced that its recently introduced 90th anniversary Limited Edition MG3 and MG6 vehicles are selling fast. With most of the 90 vehicles already sold out, MG has confirmed that if all 90 vehicles are sold within 90 days, one lucky customer will go on to win an MG3. The MG 90th Anniversary Limited Editions were launched at the MG90 event at Silverstone in June this year, where the Midlands based manufacturer celebrated 90 years of the iconic marque.