Penske Corporation: Difference between revisions

| name = Penske Corporation

| logo = Penske Logo.svg

| type = [[Privately held company|Private]]

| foundation = 1969

| founder = [[Roger Penske]]

| key_people = Roger Penske (Chairman)<br/>Rob Kurnick (President)

| location = [[Bloomfield Township, Oakland County, Michigan|Bloomfield Township, Michigan]], U.S.

| industry = [[Transport]]ation

| products = Automotive, Truck Leasing, Motor Group, Logistics

| homepage = {{URL|https://www.penske.com/}}

'''Penske Corporation''' is an American diversified transportation services company based in [[Bloomfield Township, Oakland County, Michigan]]. Auto racing legend [[Roger Penske]] serves as chairman of the privately held company, and Rob Kurnick as president.

* [[Penske Automotive Group]] (PAG:[[New York Stock Exchange|NYSE]] – a 40+% stake)

* Penske Truck Group (commercial vehicle dealerships)

* [[Detroit Diesel]] – A former GM subsidiary, Penske purchased a portion of the company in 1988 and, together with General Motors, spun the company off into a separate company.<ref>{{cite news|last=Levin|first=Doron|url=https://www.nytimes.com/1989/05/25/business/penske-wins-big-at-detroit-diesel.html|title=Penske Wins Big at Detroit Diesel|newspaper=[[The New York Times]]|date=May 25, 1989|accessdate=October 3, 2013}}</ref><ref>{{cite web|url=http://www.motortrend.com/features/112_0508_roger_penske/viewall.html|title=People: Roger Penske...This Guy Should Run GM|work=[[Motor Trend]]|accessdate=October 3, 2013}}</ref> Sold to [[Daimler AG|DaimlerChrysler AG]] in 2000.<ref>{{cite web|url=http://www.theautochannel.com/news/2000/07/20/005040.html|title=Penske Corporation Announces Sale of Its Detroit Diesel Stake to DaimlerChrysler|work=The Auto Channel|date=July 20, 2000|accessdate=October 3, 2013}}</ref>

* {{anchor|Penske Auto Centers}}Penske Auto Centers – A former subsidiary that had operated auto repair centers within selected [[Kmart]] stores from 1995<ref name="lat-1995sep26">{{cite news |url=http://articles.latimes.com/1995-09-26/business/fi-50224_1_auto-service-centers |title=Kmart Sells Money-Losing Auto Service Business : Divestiture: Roger Penske buys 860 centers for $112 million. Company to focus on retailing. |newspaper=[[Los Angeles Times]] |date=September 26, 1995 |author=<!--Staff writer(s); no by-line.-->}}</ref><ref name="ct-1995sep26">{{cite news |url=http://articles.chicagotribune.com/1995-09-26/business/9509260154_1_kmart-penske-auto-center-penske-corp |title=Kmart To Sell Automotive-service Chain: Discounter Steers Focus Back To Retail |newspaper=[[Chicago Tribune]] |date=September 26, 1995 |first=Genevieve |last=Buck}}</ref> until 2002.<ref name="upi-2002apr09">{{cite news |url=https://www.upi.com/Penske-Auto-Centers-close-for-good/51201018375441/ |title=Penske Auto Centers close for good |newspaper=[[United Press International]] |date=April 9, 2002 |author=<!--Staff writer(s); no by-line.-->}}</ref><ref name="nyt-2002apr09">{{cite news |url=https://www.nytimes.com/2002/04/09/business/kmart-and-penske-told-to-end-dispute-over-closing-of-auto-centers.html?pagewanted=all |title=Kmart and Penske Told to End Dispute Over Closing of Auto Centers |newspaper=[[New York Times]] |date=April 9, 2002 |first=Constance L. |last=Hays}}</ref>

* [[VM Motori|VM Motori S.p.A.]]<ref>{{cite web|last=Sutton|first=Mike|url=http://wardsauto.com/news-amp-analysis/gm-penske-partner-vm-motori-stake|title=GM, Penske Partner in VM Motori Stake|publisher=[[Ward's]]|date=July 16, 2007|accessdate=October 3, 2013}}</ref> – 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.<ref>{{cite web|last=Ganz|first=Andrew|url=http://www.leftlanenews.com/fiat-to-split-vm-motori-with-gm-after-buying-penskes-50-share.html|title=Fiat to split VM Motori with GM after buying Penske's 50% share|publisher=LeftlaneNews|date=February 15, 2011|accessdate=October 3, 2013}}</ref>

{{reflist}}

{{Official website|https://www.penske.com/}}

[[Category:Penske| ]]