Two new suitors, including Detroit auto tycoon Roger Penske, have surfaced for General Motors Corp.’s endangered Saturn brand, according to sources familiar with negotiations.
Penske is the highly successful head of Bloomfield Hills-based Penske Automotive Group, Inc., which operates more than 300 franchises in the United States and internationally, selling 40 different brands. The billionaire Detroit booster, who oversaw the city’s Super Bowl XL preparation, has accomplished almost everything in the auto industry, from racing cars to building engines as owner of Detroit Diesel Corp. to snagging exclusive U.S. distribution rights for the iconic Smart minicar. But buying a brand and building vehicles would pose a new challenge.
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