Penske Automotive Group , headquartered in Bloomfield Hills, Michigan, is an international company that operates automotive and commercial dealerships mainly in North America and Europe. It also distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services primarily in Australia and New Zealand. Penske Automotive Group operates on three continents and nine countries represents over 40 brands. Penske Automotive Group employs over 25,000 people worldwide and is a member of Fortune 500 and Russell 1000.
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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 renamed its company Penske Automotive Group, Inc.; and change the ticker symbol on NYSE to PAG.
On June 5, 2009, it was announced that Penske Automotive would purchase the Saturn brand and its assets from the collapsed General Motors. Less than four months later, on September 30, Penske announced it would no longer buy Saturn from GM due to manufacturing uncertainty.
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See also
- Sytner Group operations in the United Kingdom
- Penske Corporation
References
Source of the article : Wikipedia
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