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Learn More About Us Most notably, Penske Truck Leasing took delivery of the very first Class 8 heavy-duty Freightliner eCascadia semi-trucks from Daimler Truck North America. We purchased Canada's Rentway Ltd. in 2000 and Wilmington, Delaware-based Rollins Truck Leasing in 2001. Additionally, customers can rent trucks through a self-service, 24/7 mobile booking app for easy pick up.. U-Haul features an extensive network of locations across the U.S., serving all 50 states. For additional information, visit the company's website at www.premiertruck.com, Caution Concerning Forward Looking Statements. Notable items included its continued introduction and real-world testing of new commercial electric vehicles within its fleet operations, new commercial electric vehicle charging and related technologies, and investing in new and upgraded facilities to meet customer needs. In late 2021, Penske Logistics also began taking a new direction for its European logistics business by forming a joint venture with Bremen, Germany-based Rhlig Logistics. The company continued its investments in fleet electrification and decarbonization with an increasing number of charging locations to support its growing number fleet of electric vehicles, which includes light-, medium- and heavy-duty equipment. Second, we also include links to advertisers offers in some of our articles; these affiliate links may generate income for our site when you click on them. Though Penskes upfront costs are more expensive, the company offers an unlimited mileage option so customers can make longer trips without racking up additional charges. Under a new Team Penske global partnership, Porsche Penske Motorsport is competing in the IMSA WeatherTech SportsCar Championship and the World Endurance Championship in 2023. The yachts owner is Roger Penske. At Penske Transportation Solutions, we move the things that move the world forward. Later in the year, Penske Automotive Group and Mitsui & Co., Ltd. once again showed confidence in Penske Truck Leasing by increasing their ownership positions in the company. We earn a commission from partner links on Forbes Home. Late in the year, it was the first company to announce taking delivery of the production models of the Freightliner eCascadia from Daimler Truck North America. Penske Corporation is a closely-held, diversified, on-highway, transportation services company whose subsidiaries operate in various industry segments, including retail automotive, truck leasing, transportation logistics, and professional motorsports. Penske believes these were the first DC fast charging stations in the U.S. designed specifically for heavy-duty commercial electric vehicles. In 2022, Team Penske is competing in the NTT INDYCAR SERIES, the NASCAR Cup Series and the World Endurance Championship. In 2019, Penske Logistics made history for being one of the first truck fleets to ever use commercial heavy-duty electric semi-trucks for over-the-road store deliveries as well as testing electric terminal yard tractors. In 2007, we bought Victory Express' remaining interest in the company. In 1973 Penske acquired the ailing Michigan International . His company has more than 1,350 . Penske also introduced new and enhanced digital tools for its private fleet customers and their truck drivers, including new mobile phone applications and a newly updated customer website portal. From making sure hospital deliveries of masks, gowns and other medical supplies were delivered by truck on-time to managing food, beverage and grocery warehouses and direct-store deliveries by truck, Penske's role in the supply chain was essential. Throughout its 50-year history, Penske Truck Leasing has developed vast capabilities serving a broad range of customers in diverse industries. It comes as no surprise that fresh seafood is a mainstay at restaurants throughout Florida, but foodies can feast on just about any menu item imaginable including Italian, Asian, Mexican, French, Cuban or Greek. Porsche Penske Motorsport wrapped up the six-hour race at Spa-Francorchamps in fourth place with the Porsche 963. If you want more protection and insurance options and quality moving vehicles, consider Penske. Depending on your U-Haul location, the company rents pickup trucks, cargo vans and five truck sizes, ranging from 10 feet long to 26 feet long. Team Penske. Early life and education [ edit] Penske was born in Shaker Heights, Ohio, in 1937. The Indianapolis Motor Speedway has hosted the worlds largest single-day sporting event the Indianapolis 500 Mile Race for more than 100 years. The rights battle over the video game 'Tetris' are the stuff of games industry legend, which is something a new film is endeavoring to cover. Learn More About Us View Our Companies GE Capital's Announced Sales Now Total Approximately US$189 Billion (ENI) FAIRFIELD, Conn. - July 28, 2016 - GE (NYSE: GE) announced today that it has signed and closed the sale of a 14.4% limited partner interest in Penske Truck Leasing Co., L.P., a full-service truck leasing, rental, and logistics business, to Penske Automotive Group, Inc. The company also began working behind the scenes for industry standardization around the charging of high-power commercial electric vehicles, leveraging big data from connected fleets, and exploring possibilities for blockchain and robotic process automation use in its businesses. The McCoy acquisition is . Also in 2005, we formed a joint venture with Victory Express to provide logistics services in China. Penske has 3,000 locations nationwide in 49 states. Customers should be wary of U-Hauls reliability when it comes to rental guarantees and should be cautious about U-Haul adding unexpected add-on costs to the final bill. PAG employs nearly 27,000 people worldwide and is a member of the Fortune 500, Russell 1000, and Russell 3000 indexes, and is ranked among the Worlds Most Admired Companies by Fortune Magazine. For additional information, visit the companys website at www.penskeautomotive.com. Delivering on its previous commitments to develop electric vehicle charging infrastructure at its facilities, Penske Truck Leasing opened commercial heavy-duty electric vehicle charging stations with 14 high-speed chargers at four of its existing facilities in Southern California. For other uses, see, Bloomfield Township, Oakland County, Michigan, "Penske named Presidential Medal of Freedom recipient", "People: Roger PenskeThis Guy Should Run GM", "Penske Corporation Announces Sale of Its Detroit Diesel Stake to DaimlerChrysler", Penske finalises exit from Supercars, DJR reborn, "Kmart Sells Money-Losing Auto Service Business: Divestiture: Roger Penske buys 860 centers for $112 million. Competing in a variety of disciplines, cars owned and prepared by Team Penske have produced more than 600 major race wins, over 670 pole positions and 43 championships. "At the time [Roger] Penske owned a company called Detroit Diesel that made diesel engines for boats, and he was also involved with a company that built turbine engines," current owner and. Former race car driver Roger Penske is the founder, chairman and CEO of publicly-traded car and truck dealer Penske Automotive Group. Finally, in late 2020, Penske Logistics made a significant investment in the future of its dedicated contract carriage business by completing its acquisition of Black Horse Carriers. and Logistics. Roger Penske founded our company Dec. 1, 1969, after purchasing a car and light-truck rental and leasing business serving eastern Pennsylvania, with just three locations. The company also expanded its network of used commercial truck sales centers. Penske Vehicle Services is the largest fleet solutions provider for automotive original equipment manufacturers. Penske Truck Leasing further continued various previous deployments and tests of vehicles such as Kalmar electric yard tractors, and its ongoing testing and deployment of Freightliners eCascadia and eM2 vehicles with customers. In 2023, Team Penske competes in the NTT INDYCAR SERIES and the NASCAR Cup Series. These forward-looking statements should be evaluated together with additional information about Penske Automotive Group's business, markets, conditions, and other uncertainties, which could affect Penske Automotive Group's future performance. Additional charging station capabilities are planned. Before years end, the company had fully integrated the acquired operations of Black Horse Carriers and rolled out a refreshed fleet branding program. Penske Entertainment Corp., a subsidiary of Penske Corporation, owns the Indianapolis Motor Speedway, the NTT INDYCAR SERIES and IMS Productions. Business data for Penske Automotive Group, Inc.: This page was last edited on 6 February 2023, at 07:24. Team Penske is one of the most successful teams in the history of professional sports. All Rights Reserved. He sold her she is now named C Star. Commenting on the acquisition, PTG President Richard Shearing said, "We are thrilled to welcome McCoy Freightliner to Premier Truck Group. Penske also offers a number of discounts for AAA members, students and military while U-Haul rarely offers discounts. His poignant story, A Beautiful Noise - The Neil Diamond Musical, is portrayed brilliantly at Broadways Broadhurst Theatre by Will Swenson, a seasoned Broadway actor. Penske Truck Leasing continued to provide essential and continuous transportation support services such as fleet maintenance, repairs, fuel, over-the-road support, and made sure trucks, semi-tractors and trailers remained available and ready to support business fleets, truck drivers and consumers on the move. The Indianapolis Motor Speedway has hosted the worlds largest single-day sporting event the Indianapolis 500 Mile Race for more than 100 years. Plus: The United Arab Emirates wants to shake up cricket globally. 2 Hitachi Dallara/Chevrolet for Josef Newgarden, the No. Penske Vehicle Services. Additionally, PAG owns 28.9% of Penske Transportation Solutions (PTS), a business that manages one of the largest, most comprehensive and modern trucking fleets in North America and provides innovative transportation, supply chain, and technology solutions to its customers. With ubiquitous orange and white moving trucks, U-Haul remains one of the most well-known moving truck rental companies in the U.S. And thanks to incredibly competitive base prices and a wide variety of vehicles and accessories, U-Haul has made renting a moving truck common practice for many customers. 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. Throughout 2021, Penske Logistics joined in the testing of commercial electric vehicles for products ranging from delivering medical supplies to hospitals to food and beverages to quick service restaurant chains. Cars owned and prepared by Team Penske have produced more than 600 major race wins, over 670 pole positions and 43 Championships across open-wheel, stock car and sports car racing competition. Throughout 2021, Penske Truck Leasing continued to grow its business, fleet and services footprint through organic customer growth and strong vehicle demand, and it added new and improved facilities in key markets across North America. All Rights Reserved. All rights reserved. Dedicated operations Epes Transport Freight logistics Penske Logistics truckload Brian Straight Penske Automotive Group, Inc., (NYSE: PAG) is a diversified international transportation services company and one of the worlds premier automotive and commercial truck retailers. Terms of Use | Penske advertises emission-controlling technologies including speed-limiting its trucks. The company also garnered industry recognition for its prominence in Gartners Magic Quadrant supply chain ranking as a visionary. Penske Logistics has offices, operations and serves customers in North America, South America, Europe and Asia. Roger Penske is the first team owner in auto racing history to win the Nascar Cup Series championship and the NTT IndyCar Series championship in the same season after Joey Logano won the Nascar title and Will Power won the IndyCar title in 2022. Vox Media, owner of publications including New York Magazine and tech site The Verge, is raising $100 million from Penske Media, the owner of . The business is best known for its auto dealerships, which sell new and used cars, and its iconic yellow rental trucks. Actual results may vary materially because of risks and uncertainties that are difficult to predict. Roger Penske, founder and chairman of Penske Corporation, championed and invested in the races return to Detroit in 2007. In 2019, Penske Logistics also celebrated the grand opening of its new 606,000-square-foot build-to-suit standard freezer/cooler distribution center in Romulus, Michigan. Donald Trumps real net worth? Penske Performance, Inc. operations include teams that are competing in the NTT INDYCAR SERIES and the NASCAR Cup Series in 2023, under the Team Penske banner. The company also offers a variety of additional services, including loading and unloading assistance and an extensive network of storage facilities. Penske, otherwise officially known as the Penske Corporation, is a collection of companies owned by the American Penske family. Since 1969, Penske Truck Leasing has grown from a three-location rental and lease business to a multibillion-dollar transportation services company spanning the globe. In 1982, we joined with the Hertz Truck Division to form Hertz-Penske Truck Leasing. While Penske has four different insurance and protection plan options compared to U-Hauls two, U-Haul has a much longer list of moving supplies, storage solutions and other options to help cover all its customers needs. Shares of PAG opened at $138.58 on Monday. 2023 Forbes Media LLC. Information provided on Forbes Home is for educational purposes only. Penske Motor Group owns and operates Toyota and Lexus automobile dealerships in California and Texas. Penske and U-Haul also offer different varieties of services. Penske Logistics. The company was recognized for its commitment to this innovation with regard to fleet sustainability at the Alternative Clean Transportation Expo earning the conferences top fleet award. In addition to the historic milestone of the company's anniversary, company founder Roger S. Penske received the Presidential Medal of Freedom in recognition of his success in business, motorsports and philanthropic efforts. Throughout the year, the economy, supply chains, and society wrestled with the ongoing challenges wrought by the impact of the pandemics variant surges across the globe, supply chain disruptions, and rising inflation. Penske and its associates responded by giving back and volunteering, hosting and supporting local food, clothing and fundraising drives, and partnering with community food banks, soup kitchens, shelters, and other community groups by donating the use of its vehicles as community needs surged. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 1.01. These efforts and other measures helped it once again earn EPAs SmartWay Excellence Award. Represents $200 Million in Annualized Revenues Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, today announced that it has acquired McCoy Freightliner ("McCoy"), a retailer of medium and heavy-duty commercial trucks, located in Oregon. We continue to invest, grow and provide the innovative transportation and supply chain solutions needed by our customers around the globe. Penske Logistics will acquire Epes Transport System, a Greensboro, N.C., dry-van truckload and dedicated contract carriage provider, with more than 1,100 drivers. These risks and uncertainties are addressed in Penske Automotive Group's Form 10-K for the year ended December 31, 2020, and its other filings with the Securities and Exchange Commission ("SEC"). Always with an eye toward the future, Penske Truck Leasing opened a new cutting-edge technology hub in the Tampa market, continued investing in its connected fleet systems and mobile apps, and tapped into the metaverse using HoloLens and mixed reality technologies to support training of its fleet maintenance workforce. Required fields are marked *. Penske Automotive Group, Inc is an international transportation services company, which engages in the distribution of commercial vehicles, diesel engines, gas engines, power systems, and related . He is well-known through his ownership of Team Penske, DJR Team Penske, the Penske Corporation, the Indianapolis Motor Speedway, IndyCar, and other automotive-related businesses. Consider U-Haul if you are looking for an affordable truck rental for DIY moving. The joint venture focuses on contract logistics and operates primarily in Germany and the Netherlands. All Contents 2023 Team Penske. Ilmor also designs, develops and produces industry-leading recreational marine engines for major manufacturers worldwide.