Ex-Chrysler Pres. Tom LaSorda to advise Penske on Saturn sale
Penske Automotive Group has reportedly contracted the services of former Chrysler President Tom LaSorda, who left the automaker when it filed for Chapter 11 protection on April 30th, to advise it on its possible bid to purchase the Saturn brand from current parent General Motors. Up until the year 2000 when he joined Chrysler, LaSorda had been an executive at GM.
Earlier this month, Roger Penske, CEO of the second largest dealership group in the U.S., said that his company was interested in future opportunities with the Saturn brand. According to the Detroit News, Joe Serra and David Fischer, two Saturn dealership owners from Michigan, are partnering with Penske on the bid.
Rival bidders for Saturn may also include investor group Telesto Ventures with backing from Black Oak Partners LLC and French automaker Renault. As it currently stands, GM plans to continue providing vehicles to Saturn dealerships until the end of 2011.
[Source: Automotive News - sub. req'd | Image Source: Bill Pugliano/Getty]
Reader Comments (Page 1 of 1)
Blake Luttrell 5:50PM (5/20/2009)
Hey I just found a really great website too it's called www.shutup.com
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Xa 5:54PM (5/20/2009)
penske performance saturn sky? i'd buy it.
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Joe K. 8:21PM (5/20/2009)
Especially if they paint it with Marlboro livery from Indy... That dayglo red and white, awesome...
Robert O 7:59PM (5/20/2009)
How in the world is anyone going to be able to buy Saturn? It uses nothing but GM suppliers, and its really little more than a rebadged corporate product with a different marketing theme. Fools and their money....
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UltimoDragon 8:38PM (5/20/2009)
Except Roger Penske is no fool, or he wouldn't have been as successful as he is now. People way smarter than anyone on this website are in charge of these dealings, let's just see what they come up with!
iQuack 6:43PM (5/20/2009)
Was a shame that when Saturn finally had a full line of good vehicles, it got dumped!
I think the Aura is among the best styled sedans out there.
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Tool 8:40PM (5/20/2009)
Not sure why anyone sees that the Saturn distribution channel is that strong. It may have been a long time ago, but I think these dealers need to give it up and enjoy the capital loss they can claim on their tax return.
Plus why in the heck would they want to bring on LaSorda? He couldn't even dump the Chrysler, Dodge or Jeep brand or assets on anyone in the world.
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Inigo 9:19PM (5/20/2009)
Geez! At first I thought it was a picture of a slightly chunky Kiefer Sutherland!
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tpfilm 11:29PM (5/20/2009)
GM will supply Saturn vehicles until 2011. Ummm... When they go into bankruptcy next week and the US Government takes over you really think Saturn will survive to have a 2010?
I lament the loss of Saturn. It began with introduction of the Relay. When they killed off the plastic and began rebadging other GM products, their fate was sealed. The SKY (think baby corvette, much better looking than the Solstice) is a valiant attempt but too little, too late.
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bssplayr 8:32AM (5/21/2009)
I would love to see someone who is both a 'car guy' AND a businessman with a proven track record with the chance to take over an existing dealer network, and show us what can be done with it. Hope Penske is successful!
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Jstaskie 9:48AM (5/21/2009)
Penske has the importation & distribution experience. Renault has the product. Can you say Megane RS? Yeah baby!
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