Penske bails out of Smart distribution deal, Daimler takes over
by Zach Bowman (RSS feed) on Feb 14th, 2011 at 5:55PM
So much for Valentine's Day. Penske and Smart have jointly announced that the couple is going their separate ways. Penske is walking away from it distribution rights, management, sales and marketing duties, but that doesn't mean the brand is going anywhere. From now on, the pint-sized city movers will be peddled by Mercedes-Benz USA, and Smart says the move is just one part of a greater growth strategy. In a letter to owners, Smart said that all warranties will still be valid and that all of the transition kinks should be ironed out by as soon as June of this year. Talk about a... Read More
