Penske Automotive Group (PAG.N)

Penske raises dividend 7%

3:52 pm U.S. ET | May 10, 2013
Penske Automotive Group increased its quarterly dividend by 7 percent, to 15 cents per share, for the first quarter, the company announced today.... Read More »

 

Public retail groups: 'We're fighting tooth and nail' for margins

12:01 am U.S. ET | May 6, 2013
Profit margins on new vehicles are slipping for the nation's largest dealership groups as manufacturers and retailers slug it out for market share. New-car margins dropped for all the public dealership groups during the first quarter of 2013.... Read More »

 

Dealership groups expected to post first-quarter gains

4:29 pm U.S. ET | April 22, 2013
Dealership groups that announce their first-quarter earnings over the next two weeks should see continued growth as new- and used-car sales outperform 2012 levels, analysts say. Asbury Automotive Group, Sonic Automotive and Lithia Motors release their quarterly reports this week. Penske Automotive Group and Group 1 Automotive report next week.... Read More »

 

JAMIE LaREAU

Good news for sellers: Blue sky values appear strong

1:05 pm U.S. ET | April 16, 2013
It appears blue sky values are back, even at dealerships in distress. Take two recent examples out of California.... Read More »

 

TOP 125 DEALERSHIPS

Some groups have overseas outlets

12:01 am U.S. ET | March 18, 2013
Like much of the auto industry, some American dealership groups, both public and private, are going international.... Read More »

 

Penske to run Hertz rental locations in Indiana

2:41 pm U.S. ET | March 5, 2013
Penske Automotive Group and auto rental giant Hertz reached an agreement for Penske to operate Hertz rental locations in key Indiana markets.... Read More »

 

Public groups plan U.S. acquisition blitz

12:01 am U.S. ET | Feb. 25, 2013
Despite forays into overseas markets by Group 1 Automotive Inc. and Penske Automotive Group, public retailers intend to roll full speed ahead on U.S. acquisitions this year.... Read More »

 

JAMIE LaREAU

Penske predictable? Nope! Bring on affordable luxury, U.S. brands

4:32 pm U.S. ET | Feb. 7, 2013
Roger Penske likes inexpensive luxury cars and U.S. brands. That's both interesting and a surprise. Consider that Penske Automotive Group Inc.'s fourth-quarter brand mix was 70 percent premium luxury brands (think BMW), 26 percent volume foreign brands (think Nissan) and a mere 4 percent domestic brands (think Chevrolet).... Read More »

 

Penske, tweaking acquisition strategy, eyes U.S. brands

6:00 pm U.S. ET | Feb. 6, 2013
Penske Automotive Group plans to snap up more dealerships overseas, but shift its product mix toward domestic brands in the United States. That's a change for the dealership group, which has largely focused on acquiring volume foreign brands for more than a decade.... Read More »

 

Penske Q4 and year-end results driven by acquisitions, retail sales

11:51 am U.S. ET | Feb. 6, 2013
Penske Automotive Group, coming off a year that saw higher earnings and revenue amid the U.S. auto industry’s steady recovery, is targeting several initiatives to keep profits and sales growing in 2013.... Read More »

 

ROGER PENSKE

Penske is a go-to guy for Detroit projects

12:01 am U.S. ET | Feb. 4, 2013
The name Roger Penske is synonymous with Detroit cleanup and security. Penske, chairman of Penske Automotive Group Inc., is the go-to guy for many tangible downtown improvements.... Read More »

 

Penske bumps up stock dividend 7.7 percent

3:30 pm U.S. ET | Jan. 29, 2013
Publicly traded auto retailer Penske Automotive Group today announced that its board approved a cash dividend of 14 cents per share for the fourth quarter of 2012 -- a boost of 7.7 percent over the previous dividend.... Read More »

 

Penske Automotive predicts double-digit growth in 2013

12:01 am U.S. ET | Jan. 28, 2013
Penske Automotive Group expects to boost total revenue by at least 10 percent in 2013 as a result of growth in same-store retail sales plus acquisitions, CEO Roger Penske says.... Read More »

 

Penske, Group 1, Lithia shares rise to records after analyst report

4:55 pm U.S. ET | Jan. 23, 2013
Penske Automotive Group, Group 1 Automotive, and Lithia Motors reached record prices after a KeyBanc Capital Markets report about the auto retailers cited a "confident" outlook on vehicle sales in the United States. Penske gained 4.2 percent to $32.32 at the close in New York, the highest since its 1996 initial public offering.... Read More »

 

AUTOMOTIVE NEWS WORLD CONGRESS

Penske sees opportunities to buy stores in U.S., abroad

12:01 am U.S. ET | Jan. 21, 2013
Penske Automotive Group plans to acquire more dealerships in the United States, western Europe and Brazil, while keeping an eye on China, CEO Roger Penske said.... Read More »

 

2013 AUTOMOTIVE NEWS WORLD CONGRESS

M&A opportunities abound as industry strengthens, Penske says

9:11 pm U.S. ET | Jan. 15, 2013
Publicly-owned automotive retailers with the financial muscle to buy new stores now have the perfect opportunity to do so, both in the United States and abroad. That's what Roger Penske, 75, told industry leaders in his keynote address at the Automotive News World Congress Tuesday evening.... Read More »

 

Penske gets his first NASCAR Sprint Cup title as team owner

3:05 pm U.S. ET | Nov. 19, 2012
Brad Keselowski won his first NASCAR Sprint Cup title on Sunday -- along with Roger Penske's first cup title as a team owner -- with a 15th place finish in the final race of the year at Homestead-Miami Speedway in Florida. Penske, CEO of Penske Automotive Group and the most successful team owner in Indy-car racing history, has been trying to win a NASCAR championship as an owner since 1972.... Read More »

 

Penske buys two Wisconsin dealerships

2:44 pm U.S. ET | Nov. 14, 2012
Penske Automotive has acquired two Wisconsin dealerships for an undisclosed amount. Jon Lancaster Toyota Scion and Lexus of Madison are expected to contribute about $130 million in annual revenue, Penske Automotive said in a release.... Read More »

 

Many East Coast dealers expect a sales surge

12:01 am U.S. ET | Nov. 12, 2012
Many East Coast dealers affected by Hurricane Sandy expect sales and service business to increase significantly as soon as this week.... Read More »

 

Penske Automotive, Group 1 rebounding from Sandy's wrath

4:19 pm U.S. ET | Nov. 8, 2012
When Superstorm Sandy hit last week, stores owned by many of the nation's largest dealership groups mostly avoided damage, with two exceptions: Penske Automotive Group and Group 1 Automotive. Each has about a quarter of its stores on the East Coast.... Read More »

 

HURRICANE SANDY: THE AFTERMATH

Penske surveys New Jersey store damage: 'It was devastating'

12:01 am U.S. ET | Nov. 5, 2012
Penske Automotive Group CEO Roger Penske found devastation when he visited his company's dealerships in Jersey City, N.J., on Wednesday, Oct. 31.... Read More »

 

EDWARD LAPHAM

On a clear day you can see Penske's vision

12:01 am U.S. ET | Oct. 29, 2012
The sculptured urban skyline viewed from the roof of Penske Automotive Group's seven-story Nissan-Infiniti dealership in downtown San Francisco last week was chillingly similar to what I had seen from the roof of a Penske dealership at 11th Avenue and 56th Street in New York, nearly a quarter of a century earlier Edward Lapham is executive editor of Automotive News.... Read More »

 

As sales soar, VW stores are hot items

12:01 am U.S. ET | Oct. 22, 2012
As Volkswagen sales have surged in the United States, so has interest in acquiring VW dealerships. Fifty-five VW stores have changed hands this year, 50 percent more than in all of 2011.... Read More »

 

REMARKETING

Hertz deal gives Penske stores a flow of used cars

12:01 am U.S. ET | Sept. 24, 2012
A deal that makes Penske Automotive Group the exclusive franchise operator of Hertz rental locations in the Memphis, Tenn., market will give the dealership group a steady flow of used vehicles for its stores.... Read More »

 

Penske buys Hertz locations in Memphis; broader plan possible

4:22 pm U.S. ET | Sept. 6, 2012
Penske Automotive Group, the nation’s second-largest dealership group, has signed an agreement with Hertz to become the sole franchise operator of Hertz rental locations in the Memphis, Tenn., market -- a relationship Hertz says may expand to other markets.... Read More »