Penske Automotive Group Inc., headquartered in Bloomfield Township, today announced that it has acquired the Erhard BMW of Bloomfield dealership, also located in Bloomfield Township.
Terms of the transaction were not disclosed, but the dealership is expected to generate approximately $100 million in annual revenue, according to Penske.
The Erhard BMW store, founded in 1965 by Erhard Dahm, is Penske’s 48th BMW dealership worldwide. It is located on Telegraph Road, north of Square Lake Road.
“This dealership has a strong legacy of serving BMW enthusiasts in the metropolitan Detroit market for over 50 years,” says Rob Kurnick, president of Penske Automotive. “We are thrilled to expand our presence and relationship with the BMW brand and welcome Erhard BMW of Bloomfield, the largest BMW dealership in Michigan, to the Penske Automotive Group team.”
So far in 2021, Penske Automotive Group has added approximately $1.2 billion in expected annualized revenue through the completion of retail automotive and commercial truck dealership acquisitions.