Penske Longo dealership acquisition entered a new phase this week as Penske Automotive Group confirmed it has purchased Longo Toyota and Longo Lexus in El Monte, marking a major shift for one of the region’s largest commercial corridors.
Local Impact of Penske Longo Dealership Acquisition
The company announced the acquisition on Nov. 19, noting that the deal also includes Lexus of Stevens Creek in San Jose and Longo Toyota of Prosper in Texas. Penske reported that the four dealerships retailed more than 28,000 new and used vehicles in 2024 and are expected to generate an estimated $1.5 billion in annualized revenue.
Longo Toyota has ranked as the top volume Toyota dealership in the United States for 58 straight years. Longo Lexus has led Lexus sales in the Western Area for 35 years. Penske leaders said the acquisition strengthens the company’s ties to Toyota and Lexus while enlarging its Southern California footprint.
North American Operations Officer Rich Shearing said the move builds on an already established partnership between the brands and the company. He also said Penske is committed to maintaining the long legacy of the dealerships in El Monte. The transaction closed on Nov. 19 and was funded through availability under the firm’s U.S. credit agreement and a note payable to the seller.
Economic Expectations for San Gabriel Valley
The Penske Longo dealership acquisition brings a notable shift to Valley Boulevard, where Longo Toyota has operated for decades as a major employer and economic anchor. The acquisition signals confidence in long term regional sales strength and a continued customer base in the San Gabriel Valley. Penske employs more than 28,300 people worldwide, and the company said new team members from all four dealerships will join its broader network.
Public filings show that Penske recorded the transaction in a Form 8-K with the Securities and Exchange Commission on Nov. 19. Company officials did not disclose planned operational changes for the El Monte locations, and no staffing adjustments were announced.
Penske’s Global Portfolio
Penske Automotive Group is headquartered in Bloomfield Hills, Michigan, and operates across the United States, Europe, and the Asia Pacific region. The firm is one of the largest commercial truck retailers in North America and holds a significant interest in Penske Transportation Solutions, a trucking and logistics business with more than 405,000 vehicles under lease, rental, or maintenance contracts. More information is available at www.penskeautomotive.com.
The Penske Longo dealership acquisition brings one of El Monte’s best known business institutions under new ownership. Community members will watch closely as the familiar sites on Valley Boulevard enter their next chapter.
