Penske Corporation
American transportation services company
Penske Corporation, Inc. (/pɛn.skiː/) is an American diversified transportation services company based in Bloomfield Township, Oakland County, Michigan. Roger Penske is the founder and chairman of the privately held company, and Rob Kurnick is the president. Penske operates in the automotive retail, truck leasing, transportation, logistics, and motorsports industries. Penske operates in over 3,200 locations and employs more than 70,000 people globally.
01Holdings
Current
- DAVCO Technology (transportation component manufacturing)
- Ilmor Engineering (high performance motorsport engines)
- Penske Automotive Group (a 40+% stake)
- Penske Entertainment Corporation (67% with Fox Corporation), parent company of:
- INDYCAR, LLC (Motorsports sanctioning body; parent company of the IndyCar Series)
- Indianapolis Motor Speedway (2.5-mile race track in Speedway, Indiana)
- IMS Productions, Inc. (broadcast television production company with satellite trucks, TV trucks and audio/visual editing facilities)
- Grand Prix Association of Long Beach (promoter of the Grand Prix of Long Beach in Long Beach, California)
- Detroit Grand Prix, Inc. (promoter of the Detroit Grand Prix in Detroit, Michigan)
- Penske Logistics (supply chain management and logistics service)
- Penske Motor Group (retail automotive in California and Texas)
- Premier Truck Group (commercial vehicle dealerships)
- Penske Truck Leasing (joint venture with Penske Corp. and Mitsui & Co., Ltd)
- Penske Truck Rental (truck rental services)
- Team Penske (Motorsports team that enters teams in the IndyCar Series, IMSA SportsCar Championship, NASCAR and World Endurance Championship)
- Penske Racing Shocks (high performance motorsport suspension)
- Carshop (certified used vehicle dealer)
Former
- 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. - Sold to DaimlerChrysler AG in 2000.
- DJR Team Penske (51% stake) (Australian V8 Supercars team) sold in 2020
- Penske Auto Centers, A former subsidiary that had operated auto repair centers within selected Kmart stores from 1995 until 2002.
- VM Motori S.p.A., 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.
- Truck-Lite (transportation component manufacturing) - Penske purchased the company in 1997 and sold majority share in 2015.
Sources and credits
This article is adapted from the Wikipedia article “Penske Corporation”, written by its contributors and licensed under CC BY-SA 4.0. Fathomly has changed the layout, removed citation markers, navigation and maintenance notices, and adjusted punctuation. This adapted version is shared under the same license. For references, see the original article.
Images, from Wikimedia Commons:
- Penske Corporation (55432362045).jpg by Ajay Suresh, CC BY 4.0
- PENSKE 020918 CPS (51875724769).jpg by Chris Sampson, CC BY-SA 2.0
- Team penske (33287377268).jpg by Zach Catanzareti Photo, CC BY 2.0
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