Penske Automotive Group, Inc. (NYSE: PAG) was established in 1990, formerly known as United Automotive Group, and changed to its current name on July 2, 2007. Headquartered in Bloomfield Hills, Michigan, full-time With 27,000 employees, it is a diversified transportation service company that operates automobile and commercial truck dealerships.
Penske Automotive Group (PAG):
Penske Automotive Group, headquartered in Bloomfield Hills, Michigan, is an international transportation service company that operates automobile and commercial truck dealerships mainly in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, and gasoline in Australia and New Zealand. Engine, power system and related parts and services. Penske Automotive Group has more than 27,000 employees worldwide. It is a Fortune 500 company and a constituent stock of the Russell 1000 and Russell 3000 Indexes. It was named the “World’s Most Admired Company” by Fortune Magazine.
Penske Automotive Company operates through four divisions : Retail Automotive, Retail Commercial Truck, Other and Non-Automotive Investments.
Penske Motors operates dealership stores under franchise agreements with several car manufacturers and distributors.
- The company is engaged in the sale of new and used cars; and related products and services, including vehicle and collision repair services, as well as financial and lease contracts, third-party insurance products, and other aftermarket products.
- Penske Auto also operates a used car super center, retail and wholesale used cars.
- Penske Motors also operates heavy and medium truck dealerships, which mainly provide Freightliner and Western Star brand trucks, as well as a series of used trucks, services and parts, and maintenance and repair services.
- In addition, Penske Automotive Group also imports and distributes Western Star heavy trucks, MAN heavy and medium trucks, buses, and Dennis Eagle garbage collection trucks and related parts.
- Penske Automotive Group also distributes diesel and natural gas engines and power systems.
Penske Motors operates 317 retail car franchises, including 145 franchises located in the United States and 172 franchises located outside the United States; 16 used car super centers in the United States and the United Kingdom; in Texas, Okla There are 25 commercial truck dealerships in Homer, Tennessee, Georgia, Utah, Idaho and Canada.
Penske Automotive Group (PAG) history:
- Penske Automotive was established in 1990 as the United Automotive Group (United Automotive Group) and was acquired by Penske Corporation and Roger Penske in May 1999.
- On July 2, 2007, United Automotive Group changed its company name to Penske Automotive Group, Inc. and changed its stock symbol on the New York Stock Exchange to PAG.
- On June 5, 2009, Penske Automotive announced that it would purchase the Saturn brand and its assets from bankrupt General Motors . Less than four months later, on September 30, Penske Automotive announced that it would no longer acquire Saturn from General Motors due to manufacturing uncertainties.