Penske Automotive Group , headquartered in Bloomfield Hills, Michigan

Bloomfield Hills, Michigan

Bloomfield Hills is a city in Oakland County of the U.S. state of Michigan, northwest of downtown Detroit. As of the 2010 census, the city population was 3,869...

, is the world's second largest automotive dealership

Car dealership

A car dealership or vehicle local distribution is a business that sells new or used cars at the retail level, based on a dealership contract with an automaker or its sales subsidiary. It employs automobile salespeople to do the selling...

 group.

PAG operates 327 retail automotive franchises

Car dealership

A car dealership or vehicle local distribution is a business that sells new or used cars at the retail level, based on a dealership contract with an automaker or its sales subsidiary. It employs automobile salespeople to do the selling...

, representing 42 different brands, and 26 collision repair centers. PAG is a member of the Fortune 500

Fortune 500

The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...

 and Russell 2000

Russell 2000

The Russell 2000 Index is a small-cap stock market index of the bottom 2,000 stocks in the Russell 3000 Index.The Russell 2000 is by far the most common benchmarkfor mutual funds that identify themselves as "small-cap",...

, and has approximately 15,000 employees, PAG has 172 franchises in 19 U.S.

United States

The United States of America is a federal constitutional republic comprising fifty states and a federal district...

 states, selling new and previously owned vehicles, finance, insurance products, replacement parts, and offers maintenance and repair services on all brands it represents. Outside the United States it has 155 franchises operating in Puerto Rico

Puerto Rico

Puerto Rico , officially the Commonwealth of Puerto Rico , is an unincorporated territory of the United States, located in the northeastern Caribbean, east of the Dominican Republic and west of both the United States Virgin Islands and the British Virgin Islands.Puerto Rico comprises an...

, Germany and the United Kingdom

United Kingdom

The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...

 via the Sytner Group

Sytner Group

The Sytner Group Ltd is a car dealership group headquartered in Leicester, United Kingdom. The group comprises over 100 car dealerships located in England, Scotland and Wales. The group is wholly owned by the U.S. firm Penske Automotive Group, a NYSE listed part owned division of Penske Corporation...

.

History

Penske Automotive was originally founded as United Automotive Group, in 1990 and was acquired by Penske Corporation and Roger Penske in May 1999. 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.

Further reading

• Fortune 500: United Auto Group, CNN
  CNN
  Cable News Network is a U.S. cable news channel founded in 1980 by Ted Turner. Upon its launch, CNN was the first channel to provide 24-hour television news coverage, and the first all-news television channel in the United States...
  
  , April 17, 2006.