Since the talks regarding selling the Saturn brand to the former racing driver Roger Penske could not succeed, General Motors has declared that it will rather shut it (Saturn brand) down.

As per the Penske Automotive Group, it could not seek a manufacturer for building the cars beyond a supply deal it had struck with GM.

The breakdown of talks with Penske, which GM commenced in June, was described as really disappointing by the company. GM, which is now selling some brands, emerged from bankruptcy protection in July.

GM said, "This is very disappointing news and comes after months of hard work by hundreds of dedicated employees and Saturn retailers who tried hard to make the new Saturn a reality."

The carmaker, due to this, chose to wind down the Saturn brand and dealership network.

Some 13,000 employees work under Saturn, which has 350 dealerships.

It has already been revealed by GM that it is discontinuing the Pontiac brand, and is close to finalizing the sale of its European brands Saab, Opel and Vauxhall.

Apart from this, the company is also making efforts to sell its Hummer brand to China's Sichuan Tengzhong Heavy Industrial Machinery.