Roger Penske

AMY WILSON

For AutoNation's Jackson, Penske sets pace for retirement

12:01 am U.S. ET | May 16, 2013
AutoNation CEO Mike Jackson's employment contract with the country's largest dealership group is up in September. Jackson will turn 65 next February, but he has no intention of walking out the door any time soon.... Read More »

 

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 »

 

Penske Q1 net income jumps 23% on higher new- and used-vehicle sales

11:14 am U.S. ET | April 29, 2013
Stronger new- and used-vehicle sales for Penske Automotive Group pushed up net income 23 percent in the first quarter on an 8 percent rise in revenue from the year-earlier period, the company said today.... 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 »

 

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 »

 

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 »

 

KEITH CRAIN

Time for a great celebration

12:01 am U.S. ET | Nov. 26, 2012
There aren't many things that Roger Penske hasn't accomplished, but winning the NASCAR Sprint Cup championship was a very big trophy that was missing. Not any more Keith Crain is editor-in-chief of Automotive News.... 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 »

 

AUTOMOTIVE NEWS WORLD CONGRESS

Roger Penske will speak at World Congress

12:01 am U.S. ET | Nov. 5, 2012
Roger Penske will be the dinner keynote speaker on Jan. 15, the first day of the Automotive News World Congress.... 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 »

 

Penske sees pricing pressure easing

9:26 am U.S. ET | Nov. 2, 2012
Penske Automotive Group, the nation's second-largest dealership group, said pressure on car prices may ease before year-end. Third-quarter average transaction prices on new vehicles fell almost 4 percent and the drop for used vehicles was almost 5 percent. Per-vehicle gross profits also declined.... 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 »

 

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 »

 

A. Gordon Clark, retired trucking executive, dies at 90

2:12 pm U.S. ET | Sept. 5, 2012
Longtime truck manufacturing executive A. Gordon Clark, who played major sales roles at Freightliner and Detroit Diesel in the 1980s and 1990s, died Sept. 2. He was 90.... Read More »

 

Dodge, without partner Penske Racing, exits NASCAR

12:34 pm U.S. ET | Aug. 7, 2012
Chrysler's Dodge brand is withdrawing from NASCAR stock-car racing at the end of the 2012 season, following a decision earlier this year by partner Penske Racing to switch to Ford from Dodge in 2013.... Read More »

 

Penske expects boost in luxury car sales from Olympics in U.K.

7:05 am U.S. ET | July 31, 2012
Penske Automotive Group expects to see a boost in luxury vehicle sales this quarter at its U.K. stores on the heels of the 2012 Summer Olympics in London. But the outlook for Penske’s U.S. business is harder to predict ahead of the presidential election, Penske Chairman Roger Penske said in a second-quarter earnings call today.... Read More »

 

GOLDEN GATE GAMBIT

How Roger Penske wooed and won Frisco's grande dame of auto retailing and revived a 7-story downtown jewel

12:01 am U.S. ET | June 18, 2012
Roger Penske's opening of a seven-story auto dealership in downtown San Francisco last month was a daring step for the global industry magnate. Penske, seeing opportunity downtown, put a combined Nissan and Infiniti dealership into an abandoned building that was arguably the jewel of the city's one-time auto row. Before he could think of doing it, he first had to win the favor and approval of Mrs. Brooks.... Read More »

 

Penske Automotive takes wait-and-see approach on more stores with Fisker

5:23 pm U.S. ET | June 8, 2012
Luxury plug-in hybrid maker Fisker Automotive has opened a new dealership with Penske Automotive Group in Scottsdale, Ariz., but consumers will dictate whether the companies open more stores together.... Read More »