General Motors has issued a statement saying that it is considering several offers for its Saturn brand.
GM, which has until 1 June to submit a new viability plan to the US governments Auto Task Force or face being pushed into Chapter 11 bankruptcy protection, has hired advisory firm S.J. Girsky & Co to help conclude a deal as soon as possible.
While GM had long been expected to axe Saturn, it was unclear whether there were any potential bidders for the company. Any buyer will inherit the Saturn name and its 400-strong dealer network.
It is not clear how much cross-over any buyer would get with GM. All Saturns currently share platforms and are built in factories with other GM products.
One potential buyer is reported to be the Detroit-based Penske Automotive Group, which statistically sells the second most amount of new cars in America. The company also handled teh introduction of Smart to North America.