Auto Group Buys in Michigan
Penske has absorbed stores representing nearly $2B in revenue this year.
Bill Brown Ford was named the top-selling dealer for the brand last year.
Pexels/Julissa Helmuth
Penske Automotive Group, one of the top dealership groups in the U.S., picked up a Michigan Ford store, expanding its Midwest presence.
Bill Brown Ford in Livonia in the southeastern part of the state was recognized last year as the best-selling Ford dealership in the world. Penske says it serves Michigan’s most populous county.
In announcing the acquisition, the auto group said the store adds an estimated $550 million in annual revenue. It said Penske’s total dealership purchases so far this year bring it almost $2 billion in added annual sales.
“For decades, Bill Brown Ford has been building partnerships within its community by creating an environment that focuses on exceeding the expectations of its customers and empowering its employees,” said Rich Shearing, Penske North American operations officer in a press release.
“We look forward to cultivating those partnerships and welcome the employees of Bill Brown Ford to the Penske Automotive Group team."
LEARN MORE: Public Auto Groups Post Strong Year
Originally posted on Auto Dealer Today
More Industry
World EV Adoption Set to Grow
A new report says the segment, despite recent setbacks in some regions, is poised for acceleration as many countries look to reduce pollution.
Read More →
Black Book: Weekly Market Update
Wholesale automotive auction business stayed steady last week as bidders encountered lower prices, analysts observed.
Read More →
Pricing Transparency Drives Purchase Consideration
An annual study by JD Power found that clear pricing matters to consumers on automaker websites, so much so that it increases their purchase consideration.
Read More →
Black Book: Weekly Market Update
Used-vehicle market depreciation was the prevailing story in the wholesale market last week.
Read More →
Smaller Is Looking Better
A growing number of Americans in the market for a new vehicle are opting for more affordable options, not waiting for market stability to bite the bullet.
Read More →
U.S. EV Market Slowly Stabilizes
U.S. electric-vehicle interest is slowly stabilizing since a major dip in sales after last year's end of the federal EV tax credit, and hybrids remain the leading electrified power train.
Read More →
Global EV Market Entering New Phase
Automakers are making investments to lower battery costs and optimize production to meet changing consumer needs.
Read More →
Black Book Weekly Market Update
The holiday weekend, not surprisingly, put a drag on wholesale automotive activity last week, analysts observed.
Read More →
Auto Affordability in Context
Cox Automotive points out the complex circumstances that have led to eye-popping vehicle prices.
Read More →
Black Book: Weekly Market Update
Automotive auction inventory increased last week, giving choosy bidders even more leeway.
Read More →