Penske Truck Rentals is comprised of a joint venture between four companies. The parties involved in that JV are Penske Corporation, Penske Automotive Group, General Electric Capital and Mitsui & Co. Ltd. The parent corporation was formed in 1969 and began the moving truck rental division in 1985.
Penske Trucks serves North and South America, Europe, Asia, and Australia. It supplies the truck rental market as well as truck leasing, fleet maintenance, along with used truck sales. They have over 50,000 trucks in inventory, over 2,000 rental outlets, and employs over 26,000 workers around the globe.
In-Depth Look at Penske
Besides supplying residential moving trucks, Penske also rents out commercial semi-trucks, tractor trucks, straight-trucks and bare semi-trailers, both enclosed and flat decks. It caters both to the household consumer market as well as to businesses and owner-operators who haul freight.
For the residential mover, Penske offers a range of enclosed-box trucks in lengths of 12’, 16’, 22’, and 26’. These are available to do-it-yourself movers on a daily, multi-day, weekly, and monthly basis. Because Penske has so many locations across the nation and internationally, they are able to supply trucks on a one-way, dead-end contract with rates unmatched in the industry.
Penske Truck Rentals is backed up by its sister corporation, Penske Logistics, which operates in the same international markets. Penske Logistics supplies chain management that includes distribution center management, dedicated carriage, supply chain consulting, lead logistics, distribution center management, as well as brokerage services for freight.
Penske Used Truck Sales is a subsidiary of the rental truck business and sells-off expired vehicles like the enclosed box moving vans, semi-trailers, long distance haul rigs, straight trucks and other light, medium, and heavy-duty road hauling equipment.
Penske Truck Rentals prides itself as a world leader in the rental truck industry. They are a business-driven operation that delivers innovative transportation solutions. The company core values are:
- Commitment to customers
- Dedication to excellence
- Innovative thinking
Penske Truck Rentals has also teamed with Ford, General Motors, Pepsi, Merck, Sony, and Whirlpool to provide their logistics in transportation and distribution. This has allowed these Fortune 500 companies to cut-back on supply chain costs, boost their share of the market, as well as increase profitability. Penske is expanding to serve the logistics for supply needs for customers in the dynamic global chains.
Penske rental trucks are the most common commercial and consumer moving and delivery trucks seen on American highways. They are highly recognizable in their branding, being painted in bright yellow with black lettering and blue stripes.
Penske prides themselves on their customer service, which offers 24-hour roadside assistance and flexible cancellation and reservation policies.