![]() The Grand Prix’s contract with the City of Detroit to operate the races on the island runs through 2018. Indeed, even as the impeccably dressed Penske ran through media interviews Friday, May 19, from the pit area of the racetrack, an unidentified protester shouted about the impact on Belle Isle. Sitting on the tire of a sleek Indy-style race car, Penske dismissed the suggestion that his beloved Grand Prix races might move off Belle Isle, where critics have said the annual races in early June place too great a burden on the island park. “We could do very well with 16 million” vehicles sold, he said, which would be down from the annual pace of more than 17 million annually for the past two years. That’s going to put some pressure on these prices.”ĭespite those factors, Penske suggested sales would remain high by historic standards. “Right now, I think we’re running at almost 10% of MSRP, or manufacturer’s suggested retail price, which is a little bit high, and we’ve got a big amount of lease cars coming back. “There’s going to be more incentives,” he said. RELATED: Driverless trucks - a seismic shift for the labor force But in May, right now the business seems to be good.”īut the market is adjusting, he added, as demand continues to shift from midsize sedans to SUVs and light trucks. It was a little spongy, I’d have to say, maybe in February. “For us, our business has been strong,” he said. Some pundits have predicted that softer sales in recent months mean the record-level sales of the past couple of years are coming to a halt. One thing Penske doesn’t seem to fret about much is the state of auto sales. “We have to be looking ahead because the world is changing in transportation, and with the size of our company, we need to be at the leading edge.” “We’re already looking at those types of things today, trying to make a difference,” Penske said. That makes Penske more of a skeptic than a number of automakers, including Ford, General Motors, Nissan and Volvo, which have all said they expect to begin selling fully autonomous vehicles by about 2021.īut fleets of autonomous vehicles, both cars and trucks, offer a lot of opportunities, Penske said. Penske said he doesn’t expect to see privately owned, fully self-driving cars dominating the roadways for a long time - “probably not in my lifetime.” RELATED: How infrastructure disrepair is holding back autonomous vehicles We might do the same thing with a fleet of cars.” With 244,000 trucks, we know how to run a big fleet. “We’re definitely involved looking at that, seeing at how we’ll be involved,” he said. Penske cited increased productivity as a potential benefit. Platooning is one of many modes of operating autonomous vehicles being discussed. Penske revealed May 12 that his truck-leasing operation is looking at “platooning” trucks - running three in a row, with the first and third operated by humans and the middle truck running “driverless,” but with a human ready to take over as needed. 2 on the Transport Topics Top 100 list of the largest U.S. Penske explores possibility of a driverless fleet in the near future #penske #detroit #driverlesscarsįedEx ranks No. And with annual sales of more than $20 billion, Penske Automotive, his network of auto dealerships, remains among the nation’s largest sellers of Toyotas, Hondas and many other brands. ![]() Penske is estimated to be one of the top-500 wealthiest individuals in the United States.Penske Truck Leasing keeps 244,000 trucks on the roads today it leases fleets to FedEx and other major carriers. As a businessman, Penske is no less successful: Penske Corporation employs more than 30,000 people and generates estimated annual revenues of $11 billion through such businesses as Penske Truck Leasing, Penske Automotive, Penske Capital Partners, and the automotive retailer UnitedAuto Group. In addition, Penske organized the Championship Auto Racing Teams (CART) circuit in 1978, and owns the Michigan and Nazareth (Pennsylvania) International Speedways, North Carolina Speedway, and California Speedway, as well as coordinates the Cleveland Grand Prix Ind圜ar race. In addition, Penske Racing has posted championships in such automotive racing circuits as Canadian-American Challenge Cup, and Sports Car Club of America (SCCA) Trans-Am, as well as posting wins on the National Association of Stock Car Racing (NASCAR) and Grand Prix Formula One tours. In Ind圜ar competition, Penske Racing has won more Indianapolis 500 races than any other team. Following a short-lived but distinguished career as a race-car driver in the early 1960s, resulting in Sports Car Driver of the Year awards from, respectively, the periodicals Sports Illustrated, the New York Times, and the Los Angeles Times, Roger Penske established Penske Racing. ![]()
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