Not much to tell.
It was a slightly upscale version of the old Savage 325 entry level economy rifle first made in 30-30 caliber in 1947.
They are not an especially strong or well made action, and the .225 Winchester caliber is probably at the upper limit of pressure it can safely handle.
As you may have already noticed, the .225 Winchester is an obsolete caliber today, and finding ammo can be a challenge.
Winchester introduced the caliber in 1964, and before it got off the ground, Remington introduced the superior 22-250 Rem cartridge the following year.
Sales took off for the 22-250 instantly, and the .225 Win sales fell on it's face almost immediately.
It is a very accurate varmint caliber though, and should have maybe gained more popularity then it did.
Today, it is almost a reloading proposition due to no widespread ammo availability. You will not find any at Wally World!
Here is everything there is to know about the rifle.
http://www.wisnersinc.com/additional_info/Savage_340.htm
rc