Penske Automotive Group

Penske Automotive Group, Inc., 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. Additionally, PAG owns 28.9% of Penske Transportation Solutions, a business that manages a fleet of over 400,000 trucks, tractors, and trailers providing innovative transportation, supply chain, and technology solutions to North American fleets. PAG is a member of the Fortune 500, Russell 1000, and Russell 3000 indexes and is ranked among the World's Most Admired Companies by Fortune Magazine.

Penske Automotive Group, Inc.
TypePublic company
IndustryAutomotive, Auto Dealerships, Vehicle Parts, Transportation Services, Commercial Vehicles, Commercial Vehicle Dealerships, Truck Parts & Services
Founded1990 (1990)
FounderMarshall Cogan, as United Auto Group
HeadquartersBloomfield Hills, Michigan, U.S.
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)
ProductsTransportation Services
ServicesFinancial services, Repair
RevenueIncrease US$22.8 billion (2019)
Increase US$664.9 million (2019)
Increase US$470.3 million (2019)
Total assetsIncrease US$10.904 billion (2019)
Total equityIncrease US$2.634 billion (2019)
ParentPenske Corporation
DivisionsSytner Group; Premier Truck Group; Penske Commercial Vehicles; Penske Power Systems; CarShop

History

Penske Automotive was founded as United Automotive Group in 1990 by Marshall S. Cogan[1] and was later 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]

  • Official website
  • Business data for Penske Automotive Group, Inc.:

See also

References
  1. "History of United Auto Group, Inc. – FundingUniverse". www.fundinguniverse.com. Retrieved 2023-02-06.
  2. Johnson, Kimberly (September 30, 2009). "Penske Saturn Deal Falls Apart: GM To Shut Down Brand". The Huffington Post. Retrieved October 3, 2013.



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