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Penske announces Australian retail automotive expansion

Penske Automotive Group is focusing on growing in Australia with the acquisition of three Melbourne vehicle dealerships

Penske Automotive Group has revealed its global plans to expand and evolve, with the international transport services company set to grow its retail automotive operations into Australia.

The expansion will come as Penske acquires two Porsche dealerships and a Ducati motorcycle dealership in Melbourne.

Penske has signed an agreement to acquire Porsche Central Brighton, Porsche Centre Doncaster and Ducati Melbourne West. The Brighton dealership is located approximately 20 minutes from central Melbourne and has served the Porsche community in Melbourne for nearly 15 years since opening in March 2009.

The Doncaster dealership is the newest official Porsche Centre located in the high-growth north-eastern Melbourne suburbs.

“We are delighted to announce this transaction and expand our partnership with the Porsche brand,” Penske Automotive Group head of international operations Randall Seymore says.

“For over 10 years we have strategically built a diverse commercial vehicle and power systems business that operates across Australia and New Zealand based on our commitment to strong customer service.

“With this acquisition we will leverage that existing infrastructure and our significant experience in the retail automotive industry to drive growth of the Porsche brand in Melbourne by building a relationship with Porsche enthusiasts through a focus on the customer experience.”

The acquisition is expected to close in the second quarter of 2024, subject to customary conditions.

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