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Roger Penske at the Indy 500

Indy500

The most renowned name in American motorsports, Roger Penske, will be leading the track at the 100th running of the Indianapolis 500 later this month as this year’s celebrity pace car driver. The big race marks the intersection of two career milestones for Penske as he celebrates his 50th anniversary as the most acclaimed race team owner in history. Penske describes the upcoming landmark race in an interview with USA Today saying,

“It’s going to take a long time before they get to the 200th so this is pretty special, and to combine that with our 50th year in racing and the success we’ve had … we’ll be going for our 17th which, to me, is outstanding,” he said. “To know the team we have going into this year’s race and the success we’ve had, I feel real good about our chances, but this is a race anybody can win.”

In a half century of race team ownership, Penske made a seamless transition from driver to owner, while simultaneously building his automotive empire. He has accumulated 16 Indianapolis 500 victories, establishing himself as person with the most wins in the race’s history, as well as acquiring 2 Daytona 500 victories and 27 national championships.

Penske attended his very first Indy 500 with his father in 1951 and began his racing career ten years later. He claimed three consecutive national events in his rookie season, securing a Sports Club of America championship and earning the title of Sports Illustrated’s Sport Car Driver of the Year.  In the next three years, he went on to win an impressive eight additional races. Shortly after, Penske climbed out of the cockpit and into the business arena, starting his legendary racing team, Team Penske, just a year later. Over the next 50 years, under his stewardship, Team Penske evolved into the benchmark of racing excellence seen today.

As Penske steps back into the cockpit once again in the 100th installment of the Indy 500, he will be leading the track to the green flag behind the wheel of a unique version of the recently revealed 2017 Camaro SS 50th Anniversary Edition in Albacore White and packing 455-horsepower. This will be the 27th time a Chevy car paces the track and the ninth time a Camaro is featured as an Indy 500 pace car.

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Company NewsGeneral

Penske Automotive Group Donates $913,000 to Paralyzed Veterans of America

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WASHINGTON, DC—Paralyzed Veterans of America (Paralyzed Veterans) is excited to announce a donation of $913,000 from corporate partner, Penske Automotive Group. The funds were raised on behalf of Paralyzed Veterans through Penske Automotive Group’s “Service Matters” cause campaign which allows customers to make a donation when they’ve had their vehicles serviced at a Penske Automotive Group Dealership. All funds go toward supporting Paralyzed Veterans’ programs and services, such as benefits assistance,employment counseling and adaptive sports programs—all of which are provided free of charge to veterans and their families.

“We cannot thank Penske Automotive Group enough for this significant contribution. It will undoubtedly have a direct, positive impact on the veterans we serve,” said Al Kovach Jr., national president of Paralyzed Veterans. “Penske’s generous support plays a vital part in our organization’s ability to continue serving our nation’s veterans, and to ensure those veterans have access to programs and services to help them recover and rebuild their lives after serious injuries.”

Throughout 2015, Penske Automotive Group’s dealerships invited customers to donate a $1 or more toward its “Service Matters” fundraising campaign benefiting Paralyzed Veterans, when customers serviced their vehicle at any Penske Automotive Group dealership. To multiply the impact of customers’ contributions, Penske then matched each donation—up to a total contribution of $500,000.

“It’s an honor for Penske to be part of this fundraising effort,” said Robert H. Kurnick, Jr., Penske Automotive Group President. “We thank our customers and Penske employees for embracing the ‘Service Matters’ campaign and the importance of the work performed by Paralyzed Veterans of America. We are thrilled to extend our partnership for another year to help make a difference in the lives of our veterans and their families.”

To learn more about the “Service Matters” campaign, please contact a Penske Automotive Group dealership or visit pva.org/PAGServes.

To learn more about Paralyzed Veterans free programs and services for veterans or how to support them, please visit pva.org.

ENDS
About Paralyzed Veterans of America:
Paralyzed Veterans of America is the only congressionally chartered veterans service organization dedicated solely for the benefit and representation of veterans with spinal cord injury or disease. For nearly 70 years, we have ensured that veterans have received the benefits earned through their service to our nation; monitored their care in VA spinal cord injury units; and funded research and education in the search for a cure and improved care for individuals with paralysis.

As a partner for life, Paralyzed Veterans also develops training and career services, works to ensure accessibility in public buildings and spaces, provides health and rehabilitation opportunities through sports and recreation and advocates for veterans and all people with disabilities. With more than 70 offices and 34 chapters, Paralyzed Veterans serves veterans, their families and their caregivers in all 50 states, the District of Columbia and Puerto Rico. (www.pva.org)

About Penske Automotive Group
Penske Automotive Group, Inc. (http://www.penskecars.com/), (NYSE:PAG) headquartered in Bloomfield Hills, Michigan, is an international transportation services company that operates automotive and commercial truck dealerships principally in the United States and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services principally in Australia and New Zealand. PAG employs more than 22,000 people worldwide and is a member of the Fortune 500 and Russell 2000. For additional information, visit the company’s website at www.PenskeAutomotive.com.
Find a vehicle: http://www.penskecars.com
Engage Penske Automotive: www.penskesocial.com
Like Penske Automotive on Facebook: https://facebook.com/PenskeCars
Follow Penske Automotive on Twitter: https://twitter.com/Penskecarscorp
Visit Penske Automotive on YouTube: http://www.youtube.com/penskecars

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Company News

Penske Automotive Acquires A 49 Percent Interest In Luxury Dealership Group In Japan

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BLOOMFIELD HILLS, Mich., Jan. 7, 2016 /PRNewswire/ — Penske Automotive Group, Inc.(NYSE:PAG), an international transportation services company, announced today that it has acquired a 49 percent equity ownership interest in the Nicole Group, a luxury dealership group with operations in Kanagawa and Tokyo, Japan.  The Nicole dealership group operates four BMW and three MINI dealerships, a Rolls-Royce and a Ferrari dealership along with two stand-alone service centers and two pre-owned showrooms.  The Nicole Group is also the exclusive importer and distributor of BMW Alpina vehicles for Japan.

“We are thrilled with the opportunity to enter the Japanese market with a strong and established local partner,” said Penske Automotive Group Chairman Roger S. Penske.  “The Nicole Group represents world-class brands and has been named the best BMW dealership in Japan a record seven times.  As imports continue to grow market share in Japan, combined with the group’s solid reputation in the marketplace, we expect to leverage the strength of the existing business while driving further expansion through organic growth and future acquisitions.”

Penske Automotive Group will treat its ownership interest as an equity investment, with its pro rata share of income reported as equity in earnings of affiliates in its income statement.

Caution Concerning Forward Looking Statements

Statements in this press release may involve forward-looking statements, including forward-looking statements regarding Penske Automotive Group, Inc.’s future sales and earnings potential. Actual results may vary materially because of risks and uncertainties that are difficult to predict. These risks and uncertainties include, among others: economic conditions generally, conditions in the credit markets and changes in interest rates and foreign currency exchange rates, adverse conditions affecting a particular manufacturer, including the adverse impact to the vehicle and parts supply chain due to natural disasters, recall or other disruptions that interrupt the supply of vehicles or parts to us, changes in consumer credit availability, the outcome of legal and administrative matters, and other factors over which management has limited control. These forward-looking statements should be evaluated together with additional information about Penske Automotive’s business, markets, conditions and other uncertainties, which could affect Penske Automotive’s future performance. These risks and uncertainties are addressed in Penske Automotive’s Form 10-K for the year ended December 31, 2014, and its other filings with the Securities and Exchange Commission (“SEC”). This press release speaks only as of its date, and Penske Automotive disclaims any duty to update the information herein.

About Penske Automotive

Penske Automotive Group, Inc., (NYSE:PAG) headquartered in Bloomfield Hills, Michigan, is an international transportation services company that operates automotive and commercial truck dealerships principally in the United States and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services principally in Australia and New Zealand. PAG employs more than 23,000 people worldwide and is a member of the Fortune 500 and Russell 2000. For additional information, visit the company’s website at www.penskeautomotive.com.

Find a vehiclehttp://www.penskecars.com
Engage Penske Automotivehttp://www.penskesocial.com
Like Penske Automotive on Facebookhttps://facebook.com/PenskeCars
Follow Penske Automotive on Twitterhttps://twitter.com/Penskecarscorp
Visit Penske Automotive on YouTubehttp://www.youtube.com/penskecars

Inquiries should contact:

J.D. Carlson Anthony R. Pordon
Executive Vice President and Executive Vice President Investor Relations
Chief Financial Officer and Corporate Development
Penske Automotive Group, Inc. Penske Automotive Group, Inc.
248-648-2810 248-648-2540
jcarlson@penskeautomotive.com tpordon@penskeautomotive.com

 

Logo – http://photos.prnewswire.com/prnh/20130530/MM23675LOGO

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/penske-automotive-acquires-a-49-percent-interest-in-luxury-dealership-group-in-japan-300201046.html

SOURCE Penske Automotive Group, Inc.

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Company NewsDealer NewsGeneral

Penske Automotive Acquires Four Franchises

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PENSKE AUTOMOTIVE ACQUIRES FOUR FRANCHISES

WITH APPROXIMATELY $175 MILLION IN ANNUALIZED REVENUE

Acquires Audi, Porsche, Jaguar and Land Rover in New Jersey

BLOOMFIELD HILLS, MI, November 17, 2015 – Penske Automotive Group, Inc. (NYSE:PAG), an international transportation services company, announced today that it has acquired Audi Eatontown, Porsche Monmouth, Jaguar Monmouth and Land Rover Monmouth located in Monmouth County, New Jersey, one of the wealthiest counties in the United States. These franchises were acquired from the Schneider Nelson Auto Group and are expected to sell approximately 2,400 new and used vehicles annually, while generating revenue of approximately $175 million on an annualized basis.

Commenting on the acquisition, Penske Automotive Group Chairman Roger S. Penske said, “We are pleased to welcome these four new dealerships to the Penske family. The strong reputation and commitment to serving the customers of the New Jersey/Greater New York area for decades complement the company’s existing footprint in the northeastern United States, while enhancing our premium/luxury brand mix.”

Caution Concerning Forward Looking Statements 

Statements in this press release may involve forward-looking statements, including forward-looking statements regarding Penske Automotive Group, Inc.’s future sales and earnings potential. Actual results may vary materially because of risks and uncertainties that are difficult to predict. These risks and uncertainties include, among others: economic conditions generally, conditions in the credit markets and changes in interest rates and foreign currency exchange rates, adverse conditions affecting a particular manufacturer, including the adverse impact to the vehicle and parts supply chain due to natural disasters, recall or other disruptions that interrupt the supply of vehicles or parts to us, changes in consumer credit availability, the outcome of legal and administrative matters, and other factors over which management has limited control. These forward-looking statements should be evaluated together with additional information about Penske Automotive’s business, markets, conditions and other uncertainties, which could affect Penske Automotive’s future performance. These risks and uncertainties are addressed in Penske Automotive’s Form 10-K for the year ended December 31, 2014, and its other filings with the Securities and Exchange Commission (“SEC”). This press release speaks only as of its date, and Penske Automotive disclaims any duty to update the information herein.

About Penske Automotive

Penske Automotive Group, Inc., (NYSE:PAG) headquartered in Bloomfield Hills, Michigan, is an international transportation services company that operates automotive and commercial truck dealerships principally in the United States and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services principally in Australia and New Zealand. PAG employs more than 23,000 people worldwide and is a member of the Fortune 500 and Russell 2000. For additional information, visit the company’s website at www.penskeautomotive.com.

Find a vehicle: http://www.penskecars.com

Engage Penske Automotive: http://www.penskesocial.com

Like Penske Automotive on Facebook: https://facebook.com/PenskeCars

Follow Penske Automotive on Twitter: https://twitter.com/Penskecarscorp

Visit Penske Automotive on YouTube: http://www.youtube.com/penskecars

Inquiries should contact:

J.D. Carlson

Executive Vice President and

Chief Financial Officer

Penske Automotive Group, Inc.

248-648-2810

jcarlson@penskeautomotive.com

 

Anthony R. Pordon

Executive Vice President Investor Relations

and Corporate Development

Penske Automotive Group, Inc.

248-648-2540

tpordon@penskeautomotive.com

 

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Company NewsGeneral

PAG Dealerships Named Best to Work For

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Penske Automotive Group, Inc.(NYSE: PAG), an international transportation services company, announced today that fifteen of its dealerships have been named by Automotive News as among the Best 100 Dealerships to Work For in the United States.  The award winning dealerships are:

Commenting on the announcement, Penske Automotive Group Chairman Roger Penskesaid, “Being recognized by Automotive News as one of the Best Dealerships to Work For is a significant and worthwhile achievement.  I am extremely proud to have fifteen of our company’s dealerships included on the 2015 list, and I congratulate each team’s management and employees for their efforts in working together to be one of the very best.”


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Company NewsGeneral

Roger Penske Inducted into The Automotive Hall of Fame

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Roger Penske, Founder and Chairman of Penske Corporation, was recently inducted into The Automotive Hall of Fame along with automaker Elwood Haynes, former Ferrari Chairman Luca di Montezemolo, and industrialist Ratan N. Tata.

“To me, it’s a real honor (to be inducted),” Mr. Penske told Mike Brudenell from The Detroit Free Press. … “But, most of all, it’s about the people who have supported me — my family, my business partners and all my employees. I think that is the most important thing.”

Mr. Penske was inducted for his accomplishments in building a leading international transportation services organization that includes: Penske Automotive Group, Penske Truck Leasing, Penske Logistics, and Team Penske, one of the most successful automotive sports teams in history.

Story Credits:
Video: The Automotive Hall of Fame | Article: Penske Truck Leasing | Quote: Detroit Free Press

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