Penske Automotive Group
Stop-sale backlog hits public groups' earningsMon, 02, May 2016
Several publicly traded dealership groups noted that cars and truck languishing for months on their lots under stop-sale orders due to recalls hurt their first-quarter earnings. The problem could linger into 2017.
Penske Q1 net rises 5.7% on higher salesTue, 26, Apr 2016
Penske Automotive Group reported a 5.7 percent rise in first-quarter net income attributed in large part to the strength of its retail sales. The nation's second-largest dealership group said net income rose to $80.2 million in the quarter as revenue jumped 7.6 percent to $4.82 billion.
Used-car sales surge at top groupsMon, 25, Apr 2016
Automotive News' annual list of the top 100 dealership groups based in the U.S. ranked by used-vehicle sales shows industrywide strong unit sales increases, with 43 of the groups listed posting gains of 10 percent or more.
Penske: Punching a problem? Slow the inventory; 'get the right mix'Mon, 11, Apr 2016
Punching cars creates headaches for dealerships and customers, Penske Automotive Group Chairman Roger Penske says. But it's a problem that can be solved, he said.