Sources: Penske Looking to Buy Crevier BMWFriday, June 3, 2011
Michigan’s Penske Automotive Group Inc. is looking to buy Santa Ana-based Crevier BMW, according to auto industry sources.
Crevier BMW, owned by Donnie Crevier, is the top BMW dealer in the Western U.S. It has annual revenue of about $250 million.
It is the No. 2 dealer in Orange County after Newport Beach-based Fletcher Jones Motorcars, which has yearly sales of $431 million.
In recent years Crevier spent $33 million to expand and remodel its showroom at the Santa Ana Auto Mall. Crevier also added extra parking.
Donnie Crevier, a car collector, also owns Crevier Classic Cars, a Costa Mesa-based car club and storage site for collectible cars.
Crevier BMW was founded in 1971.
The dealership has long supported many Orange County nonprofits, including the Boys and Girls Club of Laguna Beach and Irvine-based Human Options Inc.
Penske is the second largest publicly traded auto dealer group in the nation after Florida-based Auto Nation Inc.
Penske has about $11 billion in revenue.
It owns and operates about 300 franchises, including about 150 in the U.S.
In 2010, Penske bought Santa Ana-based Commonwealth Audi and Volkswagen also at the Santa Ana Auto Mall.
The company also owns several other Southern California dealerships including Penske Toyota and Scion of Rancho Santa Margarita.