Even though the American taxpayers essentially own General Motors (When are we going to sell it?), the companies Saturn brand will be scrapped because the deal to sell it to Penske Automotive has fallen through.
In related news, the Detroit Free Press is reporting that a leading economic forecasting firm is predicting that Ford will overtake GM and become the nation's number one automobile manufacturer, although it will trail Toyota in US market share.
Ford did not receive any federal bailout money.
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