Full Description

Penske Automotive Group, Inc. is an automotive retailer headquartered in the United States. As of February 1, 2009, the Company owned and operated 156 franchises in the United States and 148 franchises outside of the United States, primarily in the United Kingdom. The Company offers a range of vehicle brands, with 96% of its total revenue, during the year ended December 31, 2008 generated from brands of non-United States-based manufacturers, including sales relating to brands, such as Audi, BMW, Cadillac and Porsche, which represented 65% of its total revenue. In June 2008, it acquired a 9% limited partnership interest in Penske Truck Leasing Co., L.P. (PTL) from GE Capital. PTL is a global transportation services provider, which operates and maintains more than 200,000 vehicles and services customers in North America, South America, Europe and Asia.

The Company, through smart USA Distributor, LLC (smart USA), a wholly owned subsidiary, the exclusive distributor of the smart fortwo vehicle in the United States and Puerto Rico. smart USA wholesaled approximately 27,000 vehicles, during 2008, to a certified network of 75 smart dealerships in 35 states, eight of which are owned and operated by the Company. During 2008, it sold 171,872 new vehicles. It sells 40 brands of domestic and import family, sports and premium cars, light trucks and sport utility vehicles through 304 franchises in 17 United States states, Puerto Rico, the United States and Germany. During 2008, it sold 101,769 used vehicles.