Penske Automotive Group
Russell 1000 Component
|Industry||Automotive, Auto Dealerships, Vehicle Parts, Transportation Services, Commercial Vehicles, Commercial Vehicle Dealerships, Truck Parts & Services|
|Headquarters||Bloomfield Hills, MI, USA|
|USA, Germany, Puerto Rico, United Kingdom, Australia, New Zealand, Spain, Italy|
|Services||Financial services, Repair|
|Revenue||US$ 17.2 billion (2014)|
|$ 504.1 million (2014)|
|$ 290.1 million (2014)|
|Total assets||$ 7.228 billion (2014)|
|Total equity||$ 1.681 billion (2014)|
|Divisions||Sytner Group; Premier Truck Group; Penske Commercial Vehicles; Penske Power Systems|
Penske Automotive Group, headquartered in Bloomfield Hills, Michigan, is an international company that operates automotive and commercial dealerships principally in North America and Europe. It also distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services principally in Australia and New Zealand. Penske Automotive Group operates across three continents and nine countries representing more than 40 brands. Penske Automotive Group employs more than 25,000 people worldwide and is a member of the Fortune 500 and Russell 1000.
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.
- 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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