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Tuesday, 10 May 2022 08:50

Penske Automotive Group Acquires Hyundai, Genesis Dealership in Indianapolis

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Penske Automotive Group, Inc. on May 3 announced it acquired Terry Lee Hyundai and Genesis of Noblesville, IN, increasing the company's presence in the Indianapolis metropolitan market.

Terry Lee Hyundai was recognized by Automotive News as a Best Dealership to Work for in 2020 and was named as a 2020 Top Work Places by The Indianapolis Star. The acquisition is expected to generate annualized revenue of $80 million.  

 

Commenting on the acquisition, Chair and CEO Roger Penske said, "We are pleased to add the Hyundai and Genesis brands to our existing Honda and Chevrolet footprint in the Indianapolis metropolitan market, and welcome their employees to our team. We look to enhance the strong legacy of these dealerships while building additional scale in this important market for Penske Automotive Group."   

 

The addition of the Hyundai and Genesis dealerships brings total expected acquired annualized revenue in 2022 to approximately $745 million.

 

Source: Penske Automotive Group