Roger Penske is betting that his now-famous last name will be the best bet for the Penske Corporation’s dealership arm. Formerly called United Auto Group, the chain of car dealerships will be renamed Penske Automotive Group effective Monday.
Penske Automotive Group, the world’s second largest dealership group, owns 311 retail franchises, primarily in the United States, Puerto Rico and the United Kingdom. Penske’s crown jewel is Longo Toyota, located in El Monte, Calif. Longo has held the title of largest Toyota dealership in the United States since 1967. Penske Copr. bought United Auto in 1999.
Penske Corp. is hoping that the rename will ring a bell with others familiar with chairman Roger Penske, who is best known for his auto racing endeavors with Penske Racing. Penske is heavily involved in the Indy Racing League, where his team has won 14 Indianapolis 500s. He also fields a NASCAR team and an American LeMans team.
The company’s New York Stock Exchange symbol will change from UAG to PAG.
06/29, 2:11 PM
posted by:
deantj
who cares?
06/29, 2:17 PM
posted by:
CTS DRIVER
blah blah blah woh woh woh, boring news. i will make sure to buy other than from penske
06/29, 2:26 PM
posted by:
maximus
don’t they rent trucks too?
06/29, 2:46 PM
posted by:
Madcapp
If I get to call in a coalition air strike, I know which Toyota dealer to go after first.
06/29, 2:54 PM
posted by:
deantj
^ LOL. Count me in, I want to lob a flaming xxxx-bag at the Corolla section.
06/29, 3:22 PM
posted by:
CTS DRIVER
^^^^you want to lob al gore at the corolla section?
06/29, 5:04 PM
posted by:
1c3d0g
Well xxxxxxx said, Madcapp!
07/03, 6:00 PM
posted by:
jackjimturkey
deantj speaks 4 me on this 1