What does PAG mean? - Smart Car of America Forums : Smart Car Forum

2micro4u · 10-25-2007, 10:31 AM

I know its a crazy question but please if sombody can tell me what PAG stands for I have seen it alot on the forum but not sure what it means?

MicroNut · 10-25-2007, 10:40 AM

PAG stands for Penske Automotive Group. PAG is their symbol on the New York stock exchange.

They were formerly called United Automotive Group (UAG). You'll see that name used on some older threads here.

2micro4u · 10-25-2007, 10:46 AM

Thanks Micronut.
So is Penske the founder or partner with SMART?

MicroNut · 10-25-2007, 11:05 AM

Daimler is the manufacturer, through their smart division. Penske signed an agreement with them to be their sole distributor in the US. That makes PAG responsible for setting up the dealer network (though they don't own most of the dealerships), marketing the vehicle, setting MSRPs, etc.

This approach is a little unusual. Most large manufacturers have their own subsidiaries to take care of this stuff. For example Mercedes-Benz Canada is the smart distributor in Canada. For the US, Daimler decided that signing an agreement with a third party (Penske) made more sense than going with Mercedes-Benz, USA.

sisyphus · 10-25-2007, 12:15 PM

Just an F.Y.I. for those who don't know...

Roger Penske is a former race car driver of some reknown, is the owner of the Penske Indy Car and NASCAR teams and is the CEO and founder of Penske Automotive Group, which now includes more than 300 auto dealerships in 19 states and two countries (UK and Germany). He has his hand in several other automotive and truck businesses as well. He is very well known and respected in automotive circles as an astute, honest and extremely successful businessman. He is also the man behind smartUSA. We couldn't have a better man behind the smart car in this country!

mismart · 10-25-2007, 12:23 PM

Quote:

He is very well known and respected in automotive circles as an astute, honest and extremely successful businessman. He is also the man behind smartUSA. We couldn't have a better man behind the smart car in this country!

X2

Well said sisyphus.

My knowledge of his business practices and integrity over the last forty years was the clincher in my decision to give smart a try.

SmartShanna · 10-25-2007, 12:35 PM

Hmmm, I thought PAG stood for Patiently Awaiting Gratification (which would be delivery of my Smart)!