Penske Automotive Group
Penske Automotive Group, headquartered in Bloomfield Hills, Michigan, is an international transportation services company that operates automotive and commercial truck dealerships principally in the United States, Canada, and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services principally in Australia and New Zealand. Penske Automotive Group employs more than 27,000 people worldwide and is a member of the Fortune 500,[1] Russell 1000, and Russell 3000 indexes, and is ranked among the World's Most Admired Companies by Fortune Magazine.
| Type | Public |
|---|---|
| NYSE: PAG Russell 1000 Index component | |
| Industry | Automotive, Auto Dealerships, Vehicle Parts, Transportation Services, Commercial Vehicles, Commercial Vehicle Dealerships, Truck Parts & Services |
| Founded | 1990 |
| Founder | Roger Penske |
| Headquarters | Bloomfield Hills, MI, United States |
Area served | United States, Germany, United Kingdom, Ireland Australia, New Zealand, Spain, Italy |
Key people | Roger Penske (Chairman of the Board) & (CEO) J.D. Carlson (CFO) |
| Products | Transportation Services |
| Services | Financial services, Repair |
| Revenue |  US$ 22.8 billion (2019) |
| $ 664.9 million (2019) | |
| $ 470.3 million (2019) | |
| Total assets | $ 10.904 billion (2019) |
| Total equity | $ 2.634 billion (2019) |
| Parent | Penske Corporation |
| Divisions | Sytner Group; Premier Truck Group; Penske Commercial Vehicles; Penske Power Systems; CarSense; CarShop |
| Website | PenskeAutomotive.com |
History
Penske Automotive was founded as United Automotive Group in 1990 and was acquired by Penske Corporation and Roger Penske in May 1999. On July 2, 2007, United Automotive Group changed its corporate name to Penske Automotive Group, Inc; and changed its ticker symbol on the NYSE to PAG.
On June 5, 2009, it was announced that Penske Automotive would purchase the Saturn brand and its assets from the bankrupt General Motors. Less than four months later, on September 30, Penske announced it would no longer acquire Saturn from GM due to manufacturing uncertainties.[2]
See also
References
- "Penske Automotive Group". Fortune. Retrieved 2018-11-18.
- Johnson, Kimberly (September 30, 2009). "Penske Saturn Deal Falls Apart: GM To Shut Down Brand". The Huffington Post. Retrieved October 3, 2013.