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AutoBlog: Ex-Chrysler Pres. Tom LaSorda to advise Penske on Saturn sale

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Filed under: Saturn, Earnings/Financials


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]

Ex-Chrysler Pres. Tom LaSorda to advise Penske on Saturn sale originally appeared on Autoblog on Wed, 20 May 2009 17:34:00 EST. Please see our terms for use of feeds.

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