Penske Automotive Group (PAG) in Bloomfield Township has acquired Longo Toyota in the Los Angeles suburb of El Monte, Calif., the largest Toyota dealership in the U.S. for the last 58 years as well as three other dealerships. Terms of the transactions were not disclosed.
PAG also purchased Longo Lexus in El Monte, Lexus of Stevens Creek in San Jose, Calif., and Longo Toyota of Prosper in Prosper, Texas, a suburb of Dallas, as part of the deal.
Longo Lexus has been the brand’s No. 1 volume dealer in the Western area of the U.S. for 35 years. Lexus Stevens Creek has been the top Lexus dealer in northern California for 22 years.
“The acquisition of these premier dealerships represents a strategic addition to the Penske Automotive Group portfolio,” says Rich Shearing, North American operations officer for PAG. “The transaction strengthens our relationship with the Toyota and Lexus brands and expands the company’s presence in southern California to the Los Angeles area.
“It also complements the company’s existing presence in northern California and expands our operations in Texas to the fast-growing Dallas market. We look forward to continuing the outstanding legacy of these dealerships and are excited to welcome these new team members to Penske Automotive Group.”
Acquired dealerships totaled more than 28,000 new and used units in 2024 and are expected to add $1.5 billion in estimated annualized revenue to the Penske organization.
 in Bloomfield Township has acquired Longo Toyota in the Los Angeles suburb of El Monte, Calif., the largest Toyota dealership in the U.S. for the last 58 years as well as three other dealerships. Terms of the transactions were not disclosed.){kind=link}