Ford September sales drop not as bad as feared

Renault SA dropped plans to provide vehicles for General Motors Co.’s Saturn brand after talks with would-be buyer Penske Automotive Group Inc. broke down at the last minute, Chief Operating Officer Patrick Pelata said.

“We negotiated with them but we were unable to reach agreement at the end,” Pelata said in an interview today.

GM said yesterday it will close Saturn after Penske ended discussions to buy the brand, citing Renault’s decision to pull out of the vehicle-supply talks. In a statement, which didn’t mention Boulogne-Billancourt, France-based Renault by name, Penske blamed the proposed supplier’s board for rejecting an agreement it had reached with management.

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- Posted: 2009-10-01 12:33:33

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