tBloomfield Hills-based Penske Automotive Group announced today its intent to construct a new Porsche dealership in Broward County, Fla. With an expected 2015 opening, Porsche of West Broward is estimated to generate approximately $125 million in annualized revenue, company officials say.
t“We are thrilled to expand our affiliation with Porsche and expect this new dealership to be a flagship property for the Porsche brand,” saysWhitfield Ramonat, executive vice president of the Penske Automotive Group Central Region. “The new dealership will afford us the opportunity to scale operations within our existing Florida footprint, and it provides an outstanding growth opportunity for our company."
tThe international transportation services company intends to build the dealership — Penske’s seventh Porsche dealership in the United States and 15th in the world — on more than seven acres of property, possibly located along I-75 in Davie.
tEarlier this month, Penske released its earnings for 2013, citing a 12.4 percent revenue increase to $14.7 billion.