GM Plans to Wind Down Saturn Quickly

DETROIT -- General Motors Co. will "move quickly" to wind down the Saturn brand after a deal to sell the line unexpectedly fell through, the company's treasurer said Thursday.

The auto maker is eager to shed the four money-losing brands -- Saturn, Pontiac, Hummer and Saab -- slated to go as part of GM's government-run restructuring.

GM had hoped to sell Saturn to Penske Automotive Group Inc., but the deal collapsed on Wednesday after Penske failed to secure an agreement to have France's Renault SA supply autos for dealers once GM stops building Saturns in about two years.

Without a buyer for the brand, the Saturn dealer network will cease to exist by October 2010, but many dealerships could close before than.