DETROIT -- Penske Automotive Group Inc. said it gained $15 million in additional revenue in the second quarter from deals with Hertz Corp. that make Penske the exclusive operator of some Hertz rental locations in Memphis, Tenn., and parts of Indiana, including airport locations in Fort Wayne, Indianapolis and South Bend.
The deals also give Penske access to a steady flow of used vehicles for its stores.
The nation's second-largest dealership group has launched an internal Web site on which it posts used Hertz vehicles for Penske dealership managers to bid on. There is not yet a forecast of the impact on Penske stores' used-vehicle sales volume.
Penske's second-quarter net income jumped 26 percent to $62 million, as revenue rose 12 percent to $3.7 billion from the year-earlier period.
-- Jamie LaReau