GE announced that it has sold its remaining 15.5% equity stake in Penske Truck Leasing to Penske Automotive Group, Inc. (PAG) and MBK USA Commercial Vehicles, Inc. (MBK), a subsidiary of Mitsui & Co., Ltd. Total proceeds are approximately $674 million — with PAG buying approximately 35% of the stake and MBK buying 65% of […]
Penske Automotive Group, Inc. (NYSE:PAG), an international transportation services company, has completed the acquisition of Freightliner medium and heavy-duty commercial truck dealerships operating in the Chattanooga and Knoxville, Tennessee markets. These dealerships represent the full line of Freightliner commercial truck products under the brand names Freightliner, Western Star, Sprinter and Freightliner Custom Chassis. The dealerships […]
Penske Logistics has filed a petition seeking to have the United States Supreme Court review the Ninth Circuit Court of Appeals decision in the matter of Dilts et al. v. Penske Logistics LLC and Penske Truck Leasing Co., L.P. According to Penske: “The crux of the case is whether a long-standing federal transportation law that […]
Penske Used Trucks has opened a commercial truck dealership in Phoenix, offering used light-, medium- and heavy-duty trucks, trailers and related equipment. This will be the company’s third used commercial truck dealership to open in the United States in the last year, joining locations in Torrance, California, and Charlotte, North Carolina. Penske Used Trucks is […]
In yet another sign that green fleets are here and expanding, Penske Truck Rental has 85 compressed natural gas (CNG) Freightliner Cascadia semi-tractors available for commercial rental use in select markets. These days cab semi-tractors are equipped with Cummins Westport 12-liter engines. “An increasing number of customers have expressed a desire to incorporate natural gas […]
Hino Trucks have been on a big roll lately, and the momentum was underscored recently at an event to commemorate the delivery of the 10,000th Hino truck to Penske Truck Leasing (PTL). The ceremony took place at Hino’s plant in Williamstown, West Virginia in front of its assembly team members and top management from Hino […]
