The possibility that Penske Automotive Group may in fact purchase the Saturn brand from General Motors has just increased significantly. Penske has acquired the services of former Chrysler President Tom LaSorda as an adviser on the bid.

Penske is the second largest dealership group in the U.S. and also distributes the SMART brand of cars in the U.S. for Mercedes parent company Daimler.

The Detroit News is reporting that the Penske bid may involve other partners, including Serra Automotive Inc. and the Suburban Collection. Serra Automotive is the 15th largest dealership group in the U.S. with 21 stores in six states. The Suburban Collection is the 13th largest group and boasts 7 Saturn dealerships.

While many of GM’s brands have received little attention from prospective buyers the list of parties interested in Saturn seems to grow daily. Bloomberg is reporting that Canada’s Magna International is interested in Saturn, while other recent reports indicate Renault/Nissan is interested.

Saturn has said it has engaged in talks with the investment firm Telesto Ventures about a possible sale.

Currently GM is eager to part with Saturn as it faces a June 1st restructuring deadline.

[Source: Automotive News]

The sale of Saturn to Nissan-Renault could see cars like this Mégane Renault Sport roaming U.S. streets.

The rumor mill keeps churning out new and exciting candidates interested in buying GM’s Saturn brand. The most recent speculation is that Nissan/Renault might be interested.

The Wall Street Journal is reporting the Nissan-Renault interest in Saturn, while Bloomberg says that company may team up with the Penske Automotive Group (rumored yesterday to be an interested party) to take over the brand.

With Nissan struggling worldwide the thought of such a buy seems unlikely and yet it may pave the way for Renault to bring its lineup of fuel-efficient compact cars to North America. Currently the Saturn brand has 400 dealerships in the United States and Canada that could be used to distribute Renault products like the Clio and Megane… or even performance versions like the 250hp 2.0-liter turbocharged Mégane R.S. (shown above).

While French vehicle might not normally be attractive to North American consumers, the Renault brand has a strong awareness with younger consumers due to the Gran Turismo video game series.

Under the latest General Motors viability plan, Saturn is scheduled to be sold by the end of the year.Currently GM says that is has several offers, the most recently publicized ones being from Penske Automotive Group and Telesto Ventures, which would transform the Saturn dealership network into a retail chain selling several brands of foreign-made cars.

[Source: AutomotiveNews]

Roger Penske and Daimler Chairman Dr. Dieter Zetsche take a ride in a SMART car. Penske currently distributes SMART cars for Diamler in the U.S. and is rumored to be interested in purchasing Saturn from GM.

A day after General Motors released a vague statement declaring that it is moving to “the next step” in the sale of the Saturn brand it appears as though Roger Penske is one of the interested buyers.

Penske, a former race car driver and now the man at the top of an automotive empire is no stranger to the business, owning numerous dealerships. In fact, Penske’s dealership chain is listed as the second largest in the United States, accounting for 171,872 vehicles sold in the U.S. in 2008.

The Penske dealership network is not immune to the current economic climate, with Q1 profits down roughly 50 percent from the year previous. Still, the company managed a 16.2 million profit.

The Penske Automotive Group even distributes the SMART car for Mercedes/Daimler throughout the United States.

Currently Penske oversees three major racing initiatives in the NASCAR Sprint Cup, the American Le Mans Series (ALMS) and the Indy Racing League (IRL). He is also a well-known supporter of the city of Detroit and the U.S. auto industry, having helped bring the racing back to Detroit’s Belle Isle in recent years as well as assisting in bringing the Superbowl to the struggling city.

The Wall Street Journal cited an unnamed source in regards to Penske’s interest. The individual said that while Penske is interested, no offer has been made.

[Source: Automotive News]

[Photo Credit: TheAutoChanel]