Profile: Penske Automotive Group Inc (PAG)
17 May 2019
Penske Automotive Group, Inc., incorporated on December 6, 1990, is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand. The Company's segments include Retail Automotive, consisting of its retail automotive dealership operations; Retail Commercial Truck, consisting of its retail commercial truck dealership operations in the United States and Canada; Other, consisting of its commercial vehicle and power systems distribution operations and other non-automotive consolidated operations, and Non-Automotive Investments, consisting of its equity method investments in non-automotive operations. As of December 31, 2016, the Company offered over 40 vehicle brands.
Under the Penske Commercial Vehicles Australia (PCV Australia) business, the Company imports and distributes Western Star heavy-duty trucks, MAN heavy and medium duty trucks and buses, and Dennis Eagle refuse collection vehicles, together with associated parts, across Australia, New Zealand and portions of the Pacific. Under the Penske Power Systems (PPS) business, the Company distributes diesel and gas engines and power systems, principally representing MTU, Detroit Diesel, Mercedes-Benz Industrial, Allison Transmission and MTU Onsite Energy. The Company also holds interests in Penske Truck Leasing Co., L.P. (PTL), a provider of transportation services and supply chain management. The Company acquires used vehicles from various sources, including auctions open only to authorized new vehicle dealers, public auctions, trade-ins from consumers in connection with their purchase of a new vehicle from the Company and lease expirations or terminations. It also offers its customers various vehicle warranty and extended protection products, including extended service contracts, maintenance programs, guaranteed auto protection (GAP), lease wear and tear insurance, and theft protection products.
The Company holds interests in Premier Truck Group (PTG). As of December 31, 2016, PTG operated 20 locations in the United States and Canada, including 14 full-service dealerships offering primarily Freightliner and Western Star branded trucks. PTG also offers a range of used trucks available for sale, as well as service and parts departments. PTG dealerships offer new trucks and a selection of used trucks for sale, a range of parts, maintenance and repair services, and finance and insurance options for its customers by facilitating truck and trailer financing and leasing, extended maintenance plans, physical damage insurance, GAP insurance, roadside relief and other programs. PTL's product offerings include full-service truck leasing, truck rental and contract maintenance, along with logistics services, such as dedicated contract carriage, distribution center management, transportation management and lead logistics provider. PTL coordinates and provides services for its customers across the supply chain, including inbound material flow, handling and packaging, inventory management, distribution and technologies, and sourcing of third-party carriers.
The Company competes with Ford, International Kenworth, Mack, Peterbilt and Volvo.
Penske Automotive Group Inc
2555 S Telegraph Rd
BLOOMFIELD HILLS MI 48302-0912