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| Version 3 | Version 4 |
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| GM in deal to sell Saturn brand | GM in deal to sell Saturn brand |
| (39 minutes later) | |
| Troubled US carmaker General Motors (GM) has reached a deal to sell its Saturn brand to former race car driver Roger Penske. | |
| Penske Automotive Group would take over the brand, service operations and dealership network. | Penske Automotive Group would take over the brand, service operations and dealership network. |
| Earlier on Friday, court papers showed that GM hoped to return to profitability in 2011 after emerging from bankruptcy protection. | Earlier on Friday, court papers showed that GM hoped to return to profitability in 2011 after emerging from bankruptcy protection. |
| A dramatic slump in sales forced GM to file for protection this week. | A dramatic slump in sales forced GM to file for protection this week. |
| The company's financial adviser, Evercore Partners, estimates that GM will lose $17.5bn (£10.9bn) this year before making a profit of $3bn in 2011. | The company's financial adviser, Evercore Partners, estimates that GM will lose $17.5bn (£10.9bn) this year before making a profit of $3bn in 2011. |
| The estimate is based on US auto sales of 16 million vehicles a year, up from current levels of less than 10 million. | The estimate is based on US auto sales of 16 million vehicles a year, up from current levels of less than 10 million. |
| Gas-guzzling | Gas-guzzling |
| GM is in the process of cutting costs and selling off a number of its brands. | GM is in the process of cutting costs and selling off a number of its brands. |
| The deal for Saturn should secure the immediate future of the brand's 350 dealerships and 13,000 employees. | The deal for Saturn should secure the immediate future of the brand's 350 dealerships and 13,000 employees. |
| "We will be selling as many GM cars under the Saturn brand as possible," Mr Penske said. | "We will be selling as many GM cars under the Saturn brand as possible," Mr Penske said. |
| The carmaker also announced this week that it had agreed to sell its Hummer brand of sports utility vehicles by the end of September. | The carmaker also announced this week that it had agreed to sell its Hummer brand of sports utility vehicles by the end of September. |
| However, reports suggest that a deal with China's Sichuan Tengzhong Heavy Industrial Machinery may be blocked by Chinese regulators. | However, reports suggest that a deal with China's Sichuan Tengzhong Heavy Industrial Machinery may be blocked by Chinese regulators. |
| Analysts say that the gas-guzzling image of Hummer does not sit well with China's attempts to develop an auto industry focused on smaller, fuel-efficient cars. | Analysts say that the gas-guzzling image of Hummer does not sit well with China's attempts to develop an auto industry focused on smaller, fuel-efficient cars. |
| The carmaker has already said it will discontinue its Pontiac brand and it has agreed the sale of its European arm. | The carmaker has already said it will discontinue its Pontiac brand and it has agreed the sale of its European arm. |
| Bankruptcy protection | Bankruptcy protection |
| GM's move into bankruptcy protection is backed by the US government, which is expected to take a 60% stake in the carmaker. | GM's move into bankruptcy protection is backed by the US government, which is expected to take a 60% stake in the carmaker. |
| The White House is also putting another $30bn into GM on top of the $20bn it has already given the carmaker. | The White House is also putting another $30bn into GM on top of the $20bn it has already given the carmaker. |
| It is expected that GM may be able to exit bankruptcy protection within the next 60-90 days. | It is expected that GM may be able to exit bankruptcy protection within the next 60-90 days. |
| US Chapter 11 bankruptcy protection gives an American company time to restructure its finances while being protected from its creditors. | US Chapter 11 bankruptcy protection gives an American company time to restructure its finances while being protected from its creditors. |
| GM, along with carmakers across the world, has suffered from a massive drop in sales during the economic downturn. | GM, along with carmakers across the world, has suffered from a massive drop in sales during the economic downturn. |