Penske corporation is a diversified American transportation services company based in Michigan. Formed in 1969 by motorsport Hall of Fame member Roger Searle Penske, its revenues in 2017 topped $26 billion across its group of companies, which includes the world-famous motorsport Team Penske. Operating across retail automotive, truck leasing, transportation logistics and parts manufacturing, it employs over 60,000 people worldwide in more than 3,500 locations. Roger began buying and selling older cars as a teenager. Even during his early racing career, which began in the late 1950s, he was already financially independent. When he retired from racing in 1965, it was to concentrate on his first Chevrolet dealership in Philadelphia, Pennsylvania. Amongst the company’s current holdings are its manufactring brand DAVCO, Ilmor Engineering, the publicly listed Penske Automotive Group, Penske Motor Group, Truck-Lite and Penske Truck Leasing, which on its own had revenues of $7.1 billion in 2017. Among other acquisitions and sell-offs, between 1995 and 2002, Penske Auto Centers operated adjacent to selected Kmart stores in the US. In 1988, Penske purchased a portion of Detroit diesel, formerly a subsidiary of GM, before on-selling it as a separate company to DaimlerChrysler in 2000.
- Family name: Penske family
- Sector: Automotive & Transportation
- Founded: 1969
- Founder: Roger Searle Penske
- Country: United States
- Company headquarters: Michigan, USA
- Managers: Roger Penske
- Revenue: US$21.3 billion
- Rankings: 139 [Fortune 500]
- Family ownership: >50%
- Employees: 26,000
- Website: https://www.penske.com
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