Penske Automotive Group

In Boston, dealer Herb Chambers builds an empire (and attracts suitors)

12:01 am U.S. ET | Sept. 26, 2015

While Herb Chambers says he's enjoying the new-car business more than ever, the prominence in his office of a photo of him with Warren Buffett from a recent NADA meeting begs the question: is he going to sell, too?...
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Public retailers pump up service capacity

12:01 am U.S. ET | Sept. 7, 2015

Public dealership groups are hiring service techs, adding service hours and making upgrades to boost customer-pay revenues and still meet demands for warranty repairs....
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Market slump casts shadow over how U.S. sales will finish August

2:45 pm U.S. ET | Aug. 24, 2015

Slumping stock markets could make it tough for dealerships to hit their August targets for U.S. new-vehicle sales, rattling consumers who might be on the fence about making a big purchase. The broad declines in U.S. equity markets also pushed shares of General Motors and Ford to 52-week lows Monday before rebounding....
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Penske Automotive Q2 earnings rise 29.5%

9:06 am U.S. ET | July 29, 2015

Penske Automotive Group reported second-quarter net income rose 29 percent driven largely by a higher volume of vehicle sales and a solid performance in all business segments....
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Penske shuffles some upper management in accounting

6:06 pm U.S. ET | June 16, 2015

Penske Automotive Group has a new CFO, J.D. Carlson, formerly senior vice president and corporate controller for the dealership holding company. Carlson replaces David Jones, who resigned to accept a similar position with another company....
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Penske tests Texas store's staffing program

12:01 am U.S. ET | March 23, 2015

Penske Automotive Group has been so impressed with a program started at its Toyota store in Round Rock, Texas, aimed at converting Internet leads into appointments and, ultimately, sales, that it is taking the idea to other dealerships in Texas....
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Penske launches digital sales pilot

12:01 am U.S. ET | March 16, 2015

Penske Automotive Group is launching an online sales pilot program it calls "Preferred Purchase," which enables customers to handle much of a transaction online. The pilot this week will be available on the websites of five Florida stores and six Washington-area stores....
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Public retailers say recall will boost business

12:01 am U.S. ET | Nov. 3, 2014

Public retail groups are grappling with how to handle the recall of millions of used cars with faulty airbags....
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Kuni Automotive COO Herman dies at 72

4:02 pm U.S. ET | Oct. 31, 2014

Joseph Herman, COO of dealership group Kuni Automotive and a 40-year veteran of the auto retailing industry, died the morning of Oct. 29 after a year-long battle with pancreatic cancer....
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Penske Automotive eyes more growth overseas, retail truck stores

10:04 am U.S. ET | Oct. 29, 2014

Penske Automotive wants to grow by snapping up more car dealerships overseas and buying other businesses, such as heavy-duty retail truck stores. Penske said today it agreed to raise its stake in The Around The Clock Freightliner Group, a “heavy-duty retail truck dealership group” in Texas, Oklahoma and New Mexico. Penske said such businesses are attractive because they provide strong revenue with lower costs....
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Rivals see Buffett as just another competitor

12:01 am U.S. ET | Oct. 25, 2014

Warren Buffett's entry into automotive retailing may mean more overall competition for acquisitions, but public dealership groups expect no interruptions to their growth plans....
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Buick pokes fun at Buick in bid for new buyers

Buick pokes fun at Buick in bid for new buyers

Buick is for old folks. GM's near-luxury brand has been trying to shake that reputation for decades. Now, U.S.
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