Penske Automotive Group, a diversified global transportation services company and truck retailer, is expanding its automotive operations in Australia. It has recently acquired two Porsche dealerships and a Ducati motorcycle outlet in Melbourne.
The company was founded by Roger Penske, best known for his involvement in motorsport. It already has an extensive trucking and transportation business that operates on both sides of the Tasman.
The PAG Company has signed an agreement to acquire each of the dealerships mentioned. The Brighton Porsche outlet opened in March 2009 and is located roughly 20min from the city centre. The Doncaster dealership is the newest official Porsche Centre located in the fast-growing northeastern suburbs of Melbourne. Ducati Motorcycle West is the motorcycle dealership purchased by PAG. It is situated at Essendon Fields.
Commenting on the purchases, Penske Automotive Group Head of International Operations, Randall Seymore, said, “We are delighted to announce this transaction and expand our partnership with the Porsche brand.
“For over ten years we have built a diverse commercial vehicle and power systems business that operates across Australia and New Zealand.
“With this acquisition we will leverage our significant experience in the retail automotive industry to drive growth of the Porsche brand in Melbourne.”
The acquisition is expected to be finalised in the second quarter of 2024, subject to regulatory conditions.
Whether or not these moves will be repeated with similar acquisitions in New Zealand is unclear. However, Penske Automotive already has a significant presence here as a commercial truck retailer. PAG also distributes and retails diesel and gas engines, power systems, and related parts and services in Australasia.
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