Saturn brand vehicles currently produced by General Motors Corp. (GM) could stick around after the auto maker sells the brand, the company said Tuesday.
GM, which filed for bankruptcy protection Monday, is working to shed Saturn as part of sweeping plans to shrink the company and offload money-losing parts of the business.
In a presentation to analysts a day after its bankruptcy filing, GM said 16 parties have expressed interest in Saturn.
GM said it is in talks with potential bidders about continuing the Saturn product line after the sale.
Bidders have included auto retail giant Penske Automotive Group Inc. (PAG) and private equity firm Black Oak Partners LLC.
GM also is moving to shed its Saab, Pontiac and Hummer brands. The company announced the tentative sale of the Hummer brand to a Chinese company. Chief Financial Officer Ray Young told analysts Tuesday that GM continues to negotiate with three parties about buying Saab and will move forward with plans to "wind down" Pontiac.
