Your #1 source for auto industry news and content

Home Tags Penske Automotive

Tag: Penske Automotive

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

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

AutoNation on Tuesday rescinded its offer to purchase U.K.-based automotive retailer Pendragon, roughly three weeks after joining a bidding war composed of America's largest...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

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...
Penske Automotive CEO

Penske Automotive reveals record revenue and sliding profits in Q1

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

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...

Penske Automotive quarterly results reach all-time record

In its financial results report on Wednesday, Penske Automotive Group, Inc. said it had reached record high numbers for the first quarter. The transportation...
penske automotive

Penske Automotive and Other Larger Dealer Groups Continue to Cut Jobs

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...
retail sales

CBT Automotive Newscast: August 17, 2020

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...
Roger Penske

Roger Penske Comments on Impact from Hurricanes

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...