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Dealership groups continued to build on their early-year successes in the third quarter but struggled to sustain profits from 2022.

Dealer groups show resilience in Q3 despite profitability pressures

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Dealership groups across the U.S. broke multiple performance records in the third quarter, highlighting retail automotive's unanticipated resilience in the post-pandemic era. Lithia & Driveway...
AutoNation dropped its bid to acquire the U.K.-based Pendragon, shortly after Lithia Motors' decision to raise its original offer.

AutoNation exits bidding war for UK’s Pendragon

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AutoNation on Tuesday rescinded its offer to purchase U.K.-based automotive retailer Pendragon, roughly three weeks after joining a bidding war composed of America's largest...
AutoNation has joined other top U.S. dealership groups in a bidding war for Pendragon, the U.K.'s second largest auto retailer.

AutoNation starts bidding war for U.K.’s Pendragon

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AutoNation is now looking to purchase the U.K.-based Pendragon automotive group, offering the company $544 million on Tuesday. The move has kicked off a bidding...
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Penske Automotive reveals record revenue and sliding profits in Q1

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Penske Automotive published its first-quarter performance numbers on Wednesday April 26, revealing some disquieting financial results on top of record-breaking revenue. According to the dealership...

Penske Automotive reports record Q3 revenue of $6.9 billion

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Penske Automotive Group announced its third-quarter earnings on Wednesday, showing positive growth across almost all measurements. The automotive and commercial truck retailer reported that revenue...
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Penske Automotive quarterly results reach all-time record

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In its financial results report on Wednesday, Penske Automotive Group, Inc. said it had reached record high numbers for the first quarter. The transportation...
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Penske Automotive and Other Larger Dealer Groups Continue to Cut Jobs

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When the COVID-19 pandemic struck the United States in full force mid-March, hundreds of thousands of dealership employees nationwide stayed at home to ride...
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CBT Automotive Newscast: August 17, 2020

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Today's Featured Interview: CBT News Market Update: Zo Rahim, Cox Automotive & Jonas Moskowitz, LotLinx On this week's episode of the CBT News Market Update, new...
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Roger Penske Comments on Impact from Hurricanes

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Penske Automotive Group, Inc., the second largest auto group in the U.S., today provided a preliminary estimate of the impact on its operations in Florida, Georgia, Texas and Puerto...