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Icahn Expands in Detroit Market

Icahn Automotive Group today announced several major investments in the Detroit metropolitan region, including further investments in Pep Boys locations as well as several acquisitions.

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Icahn Automotive Group LLC today announced several major investments in the Detroit metropolitan region, including further investments in Pep Boys locations as well as several acquisitions.

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Most recently, the company announced the acquisitions of Precision Auto Care, Inc., with Precision Tune franchise locations in Royal Oak and Detroit, and Phil Cavill’s Tire & Auto Service Center, a staple in the community of Clawson for 34 years. This 10-bay shop will be converted to a full-service Pep Boys Service & Tire Center.

“For 96 years, Pep Boys, a wholly-owned subsidiary of Icahn Automotive, has shared the Motor City’s passion and pride for all things automotive,” said Dan Ninivaggi, CEO of Icahn Automotive, one of the largest distributors of parts, tires and accessories in the U.S. and a leading provider of auto service. “We are excited to announce a multi-million-dollar expansion plan that includes new store openings, the extensive remodeling of several existing stores and the doubling of our parts inventory in the market.”

With that, Pep Boys has extensively renovated its Detroit-area stores and dramatically expanded its parts and tire availability, adding more products to its local stores to meet the needs of both consumers and commercial customers, offered in conjunction with Icahn Automotive’s Auto Plus wholesale parts distribution arm.

In addition, the in-store Speed Shop in Pep Boys’ Eastpointe location is designed to target the many automotive enthusiasts in the area and features a broad selection of high-performance and appearance products.

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In celebration of its growth plans in Detroit, Pep Boys took part in the Woodward Dream Cruise this past weekend. “Pep Boys is passionate about honoring our heritage and long history in Detroit, and participating in the Woodward Dream Cruise was an excellent opportunity to do so in a city that is as proud of its automotive industry roots as we are,” Ninivaggi said. “Coupled with IndyCar driver Graham Rahal’s recent back-to-back wins in the Detroit Grand Prix, which was an exciting start to our 2017 sponsorship, we are thrilled to have been part of several major Detroit-based automotive events this year.”

According to the company, these investments in Detroit are part of Icahn Automotive’s larger strategy to grow its national network and serve its customers.

 

 

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