Penske Automotive Group

Penske sticks with luxury with N.J. buy

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

Penske Automotive Group has made another strategic acquisition, staying with premium luxury franchises, by buying New Jersey's Schneider Nelson Auto Group. The purchase covers stores selling Audi, Porsche, Jaguar and Land Rover....
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Penske reports a 17% rise in Q3 profits, eyes Europe deals

8:00 am U.S. ET | Oct. 29, 2015

Penske Automotive Group reported third-quarter net income rose 17 percent on higher vehicle sales and strong revenue from finance and insurance, and service and parts operations. The company ended the quarter with about $800 million in liquidity and Chairman Roger Penske hinted at further dealership acquisitions coming in Europe this quarter or in the first quarter....
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Ferrari-Maserati casino dealership reopens in downtown Las Vegas

3:36 pm U.S. ET | Oct. 22, 2015

The Ferrari-Maserati dealership formerly located inside the Wynn Las Vegas casino and hotel has been purchased by a downtown Vegas luxury car dealership....
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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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GM's Barra: Tapping into ideas from Silicon Valley

GM's Barra: Tapping into ideas from Silicon Valley

General Motors CEO Mary Barra comments on lessons from mom; girls who shy away from math; slicing a 10-page policy down to two words; tapping millennials to erase stupid habits; taking regular trips to Silicon...
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