Penske Automotive Group
Penske Automotive Group, Inc. is a diversified transportation services company primarily engaged in the retail of new and used motor vehicles through its extensive network of automotive and commercial truck dealerships. The company operates in four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It holds franchise agreements with numerous automotive manufacturers and distributors, offering a wide range of products and services, including vehicle repairs, financing, insurance products, and aftermarket services. Penske operates 317 retail automotive franchises, with a significant presence in the United States and international markets, including the United Kingdom and Australia. Its commercial truck segment features heavy and medium-duty truck dealerships, primarily selling Freightliner and Western Star brands, along with used trucks and related services. Additionally, Penske imports and distributes specialty vehicles and power systems. Headquartered in Bloomfield Hills, Michigan, the company has established itself as one of the largest automotive retailers in the U.S.
Past deals in Motor Insurance
BMW of Wilmington
Acquisition in 2023
BMW of Wilmington is a car dealership situated in Wilmington, North Carolina. It specializes in the sale of new BMW vehicles, offering a range of models including cars, trucks, and SUVs. In addition to sales, the company provides comprehensive automotive services such as financing options for purchases, re-sale assistance, parts supply, maintenance, and damage repair for both old and new vehicles.
CarsDirect.com
Venture Round in 2000
CarsDirect.com, Inc. is an online marketplace that facilitates the buying and selling of new and used automobiles in the United States. Founded in 1998 and headquartered in El Segundo, California, the company offers a wide range of vehicles, including passenger cars, luxury vehicles, sports utility vehicles, trucks, and vans. In addition to vehicle sales, CarsDirect.com provides various related services such as auto loans, vehicle service contracts, anti-theft products, credit reports, and VIN checks. The platform also features an auto repair directory and audio guide services, making it a comprehensive resource for consumers looking to purchase or maintain their vehicles. CarsDirect.com operates as a subsidiary of Internet Brands, Inc.
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