UnitedAuto Group takes Penske name.(Final assembly)(Penske Automotive Group Inc. )(Brief article)

Automotive News, July, 2007

Say goodbye to UnitedAuto Group Inc. The public dealership group based in suburban Detroit is now Penske Automotive Group Inc. - as in CEO Roger Penske.

Shareholders approved the new name at the company's annual meeting. The board of directors proposed the change because the Penske name is a widely recognized brand for other Penske Corp. investments such as Penske Truck Leasing, the company said in a statement.

Penske Automotive Group Inc. used to be the name of a separate, privately held dealership group owned by Penske Corp. and run by Greg Penske, Roger Penske's son. But the California company changed its name to Penske Motor Group Inc. two months ago.

The public and private dealership groups remain separate entities.

The renamed...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.