Penske Automotive Group and former Chrysler President, Tom LaSorda

There are reports that former Chrysler President, Tom LaSorda has been asked to advise the Penske Automotive Group (NYSE:PAG) on its current bid to purchase Saturn, a brand that is currently owned by General Motors (NYSE:GM). LaSorda was an executive at GM up until 2000.

Roger Penske, CEO of the Penske Automotive Group, the second largest dealership group in the U.S said that he was interested with future opportunities with the Saturn brand. It was reported by Detroit News, that two Saturn dealership owners, Joe Serra and David Fischer would partner Penske on the bid.

Auto News also reports that Saturn has a few rival bidders, this includes the investor group Telesto Ventures, Oak Partners LLC and Renault (EPA:RNO) is backing them. GM is not in any rush for a deal to go ahead, as they have plans to keep providing vehicles to Saturn dealerships until the end of 2011.