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Penske Automotive was founded as United Automotive Group in 1990 by Marshall S. Cogan [2] 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. [3]
Roger Searle Penske (born February 20, 1937) is an American auto racing team owner, businessman, and retired professional driver. Penske is the owner of Team Penske , the Indianapolis Motor Speedway , IndyCar , and other auto racing-related businesses.
Penske Auto Centers – A former subsidiary that had operated auto repair centers within selected Kmart stores from 1995 [8] [9] until 2002. [ 10 ] [ 11 ] VM Motori S.p.A. [ 12 ] – 50% was bought in 2003 and the rest in 2007, but a 51% stake was sold to Fiat S.p.A. in February 2011, and the remainder sold to Fiat in 2013.
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Penske Motor Group origins date back to 1985 when Roger Penske acquired Longo Toyota in El Monte. Longo Toyota had been founded in 1967 by Dominic Longo. Roger Penske's son, Greg, joined the dealership in 1988 as new car sales manager and is now Chairman and CEO of the Penske Motor Group division of Penske Corporation.
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