{{Short description|International transportation services company}} {{Use American English|date=January 2026}} {{Use mdy dates|date=January 2026}} {{Infobox company | name = Penske Automotive Group, Inc. | logo = Penske Automotive logo.png | type = Public company | traded_as = {{ubl|{{NYSE|PAG}}|S&P 400 component}} | industry = Automotive, Auto Dealerships, Vehicle Parts, Transportation Services, Commercial Vehicles, Commercial Vehicle Dealerships, Truck Parts & Services | founder = Marshall Cogan, as United Auto Group | area_served = United States, Germany, United Kingdom, Ireland Australia, New Zealand, Spain, Italy | key_people = Roger Penske (Chairman & CEO) | products = Transportation Services | services = Financial services, Repair | revenue = {{increase}} {{US$|30.5 billion|link=yes}} (2024) | operating_income = {{decrease}} US$1.32 billion (2024) | net_income = {{decrease}} US$919 million (2024) | assets = {{increase}} US$16.7 billion (2024) | equity = {{increase}} US$5.21 billion (2024) | parent = Penske Corporation | divisions = Sytner Group; Premier Truck Group; Penske Commercial Vehicles; Penske Power Systems; CarShop | subsid = | founded = {{Start date and age|1990}} | hq_location = {{nowrap|Bloomfield Hills, Michigan, U.S.}} | locations = | num_employees = 28,900 (2024) | website = {{URL|penskeautomotive.com}} | footnotes = <ref>{{Cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/1019849/000101984925000022/pag-20241231.htm |title=2024 Annual Report (Form 10-K) |date=February 21, 2025 |publisher=U.S. Securities and Exchange Commission}}</ref> }}
'''Penske Automotive Group, Inc.''' ('''PAG''') is an American transportation services company headquartered in Bloomfield Hills, Michigan. It operates automotive and commercial truck dealers principally in the United States, Canada, and Western Europe, and distributes commercial vehicles, 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. PAG is a member of the ''Fortune'' 500, Russell 1000, and Russell 3000 indexes.<ref>{{Cite web |title=Penske Automotive Group, Inc. - Investors |url=https://www.penskeautomotive.com/investors/ |access-date=2023-05-19 |website=www.penskeautomotive.com}}</ref>
==History== Penske Automotive was founded as United Automotive Group in 1990 by Marshall S. Cogan<ref>{{Cite web |title=History of United Auto Group, Inc. – FundingUniverse |url=http://www.fundinguniverse.com/company-histories/united-auto-group-inc-history/ |access-date=2023-02-06 |website=www.fundinguniverse.com}}</ref> and later came under the control of Penske Corporation and Roger Penske in May 1999. Several years later, 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.<ref>{{Cite web |last= |date=2007-06-29 |title=UnitedAuto takes Penske name |url=https://www.autonews.com/article/20070629/REG/70629007/unitedauto-takes-penske-name |access-date=2023-05-19 |website=Automotive News |language=en}}</ref>
In February 2009, General Motors declared its intent to part with the Saturn brand by closing or selling the division, either to investors or to dealers, as part of restructuring plans dependent upon the receipt of a second round of government loans ("bailout" funding).<ref>{{Cite web |date=2009-05-01 |title=GM seeks up to $30B in aid, will cut 47,000 jobs |url=http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/02/17/national/a152805S45.DTL&hw=GM+Saturn&sn=002&sc=734 |access-date=2023-05-19 |archive-url=https://web.archive.org/web/20090501155821/http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/02/17/national/a152805S45.DTL&hw=GM+Saturn&sn=002&sc=734 |archive-date=2009-05-01 }}</ref> In June 2009, it was announced with much fanfare that Penske Automotive Group would purchase Saturn and its assets from General Motors.<ref>{{Cite news |last=Maynard |first=Micheline |date=2009-06-05 |title=G.M. in Deal to Sell Saturn to Penske |language=en-US |work=The New York Times |url=https://www.nytimes.com/2009/06/06/business/06saturn.html |access-date=2023-05-19 |issn=0362-4331}}</ref><ref>{{Cite web |last= |first= |title=Penske to buy Saturn; GM will make cars for brand for 2 years |url=https://abcnews.go.com/Business/story?id=7766377&page=1 |access-date=2023-05-19 |website=ABC News |language=en}}</ref><ref>{{Cite web |date=2009-06-05 |title=GM to sell Saturn brand to Penske |url=https://www.nbcnews.com/id/wbna31123726 |access-date=2023-05-19 |website=NBC News |language=en}}</ref><ref>{{Cite web |date=2009-06-05 |title=Saturn to be Purchased by Penske Automotive |url=https://www.caranddriver.com/news/a16580189/saturn-to-be-purchased-by-penske-automotive-car-news/ |access-date=2023-05-19 |website=Car and Driver |language=en-US}}</ref> Less than four months later, on September 30, the deal collapsed<ref>{{Cite news |date=2009-10-01 |title=GM to close Saturn as sale to Penske collapses |language=en |work=Reuters |url=https://www.reuters.com/article/us-penske-saturn-idUSTRE58T70920091001 |access-date=2023-05-19}}</ref> as Penske announced it would terminate<ref>{{Cite web |last=AP |date=2009-09-30 |title=GM to Shut Down Saturn After Penske Walks Away |url=https://www.cnbc.com/2009/09/30/gm-to-shut-down-saturn-after-penske-walks-away.html |access-date=2023-05-19 |website=CNBC |language=en}}</ref><ref>{{Cite web |date=2009-09-30 |title=Penske terminates deal to acquire Saturn from GM |url=https://www.plasticstoday.com/penske-terminates-deal-acquire-saturn-gm |access-date=2023-05-19 |website=plasticstoday.com |language=en}}</ref> the deal with GM blaming manufacturing uncertainties with certain models.<ref>{{cite news|last=Johnson|first=Kimberly|url=http://www.huffingtonpost.com/2009/09/30/gm-saturn-shutdown-automa_n_305419.html|title=Penske Saturn Deal Falls Apart: GM To Shut Down Brand|work=The Huffington Post|date=September 30, 2009|access-date=October 3, 2013}}</ref>
== External links == {{Finance links | name = Penske Automotive Group, Inc. | symbol = PAG | reuters = PAG.N | bloomberg = PAG:US | sec_cik = 1019849 | yahoo = PAG | google = PAG:NYSE }}
==See also== *Sytner Group *Penske Corporation
== References == {{Reflist}}
{{S&P 400 companies}} {{Authority control}}
Category:Auto dealerships of the United States Category:Companies based in Oakland County, Michigan Category:Bloomfield Hills, Michigan Category:Companies listed on the New York Stock Exchange AutomotiveGroup Category:1990 establishments in Michigan Category:American companies established in 1990 Category:Retail companies established in 1990 Category:Transport companies established in 1990 Category:Automotive websites Category:Companies in the S&P 400
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