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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]
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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As of October 2023, Penske's estimated net worth is $3.8 billion. [16] Penske (right) with President Donald Trump (center) and racing driver Joey Logano (left) on the White House south lawn in 2019. Penske Racing donated $500,000 to Restore Our Future, Mitt Romney's Super PAC. [17]
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Penske Truck Leasing Co., L.P. is a joint venture of Penske Corporation, Penske Automotive Group, and Mitsui & Co. Headquartered in Reading, Pennsylvania , the company was founded by Team Penske owner Roger Penske on December 1, 1969.
Penske Motor Group's flagship dealership is Longo Toyota in El Monte, California, the largest car dealership in the world at over 50 acres (200,000 m 2). [1] In addition to Toyota sales and service facilities, the El Monte dealership campus also includes a Starbucks , Subway restaurant, Verizon Wireless store, Enterprise Rent-A-Car agency, and ...
The S&P 500 has soared 67% from the bottom of 2022's bear market. Those gains have pushed the valuations for many stocks to inflated levels, but there are still some good deals to be found, even ...