The Industry's Leading Source For F&I, Sales And Technology

Top News

TAG SEARCH RESULT: Penske Automotive Group

1  -  22  of  22

April 13, 2016 - Industry News

Penske Acquires Canadian Truck Dealer Group

Penske's Premier Truck Group subsidiary has completed its acquisition of Harper Truck Centres' five commercial truck dealerships in Toronto. The acquired stores are expected to generate approximately $130 million in annualized revenue for Penske Automotive.

Tags: Acquisition, Canada, Harper Truck Centres, Penske Automotive Group, Premier Truck Group

January 20, 2016 - Industry News

Former Penske Finance Director Named CNA’s VP of National Accounts

Saundra Stewart assumed her new role on Jan. 4. The former finance director for Penske Automotive most recently served as executive vice president of sales for Topline Strategies.

Tags: CNA National, F&I products, Penske Automotive Group, Saundra Stewart

July 30, 2015 - Industry News

Penske: Honda Rate Cap Provides ‘Workable Framework’

This week, Penske Automotive’s chairman said that Honda Financial Corp’s new markup cap will still allow dealers to be fairly compensated. He also noted that the dealer group has had markup caps in place for years.

Tags: CFPB, Consumer Financial Protection Bureau, dealer markups, e-commerce, Honda Financial Services, Penske Automotive Group, Roger Penske

June 18, 2015 - Industry News

Penske Appoints New CFO

Penske Automotive has announced that J.D. Carlson, the company's senior vice president and corporate controller, was named executive vice president and CFO, effective immediately.

Tags: employment, Hiring, Penske Automotive Group, Promotions

February 12, 2015 - Industry News

Penske Posts Most Profitable Year Behind Strong Q4 Performance

Penske Automotive Group realized a 16% increase in revenue and a 14% bump in adjusted income from continuing operations in 2014’s fourth quarter. The dealer group’s CEO also discussed its plan to pilot the NADA’s fair credit compliance program at four stores.

Tags: CFPB, F&I profit, Fourth Quarter, NADA, Penske Automotive Group, reserve

April 29, 2014 - Industry News

Penske’s Quarterly Income Hits Historic High

Despite its Northeast and Central Midwest dealerships losing approximately 280 selling days due to harsh weather, Penske Automotive reported last week that it achieved a 15.4% increase in income from continuing operations.

Tags: Penske Automotive Group, Quarterly Earnings, Roger Penske

February 20, 2014 - Industry News

Group 1 to Implement NADA Fair Lending Plan

The dealer group not only endorses the association’s fair lending plan, it plans to implement the program in the next several months, officials confirm.

Tags: Asbury Automotive, compliance, Consumer Financial Protection Bureau, Group 1 Automotive, NADA, Penske Automotive Group, Quarterly Earnings

February 18, 2014 - Industry News

Penske Holds Off on Adopting NADA Compliance Program

Officials with Penske Automotive Group, which reported a record fourth quarter, said the operation will “wait and see” when it comes to adopting the NADA’s new fair lending compliance program.

Tags: CFPB, compliance, Consumer Financial Protection Bureau, earnings, F&I sales, NADA, National Automobile Dealers Association, Penske Automotive Group, Quarterly Earnings, reserve

June 6, 2013 - Industry News

Reynolds and Reynolds Extends Agreement With Penske

The technology company extends its relationship with Penske, which was originally forged in 2004. Under the extended agreement, Reynolds will provide its ERA-IGNITE to more than 170 Penske retail franchises.

Tags: ERA-IGNITE, Penske Automotive Group, Reynolds & Reynolds ERA

March 7, 2013 - Industry News

Penske Acquires Hertz Ind. Franchising Rights

Penske will operate more than 20 Hertz locations in Indiana after acquiring the rights to become the operator of Hertz rental car locations in certain markets there.

Tags: Penske Automotive Group, rental operation

February 21, 2013 - Industry News

Major Dealer Groups Prepare to Top Records Set in 2012

Most of the major dealer groups posted big gains in the fourth quarter and for the full-year 2012. One group reached an all-time high of $1,215 in F&I gross profit per retail unit.

Tags: 2012, annual, Asbury Automotive, AutoNation, F&I, Finance, Fourth Quarter, Group1 Automotive, insurance, Lithia Motors, Penske Automotive Group, Revenue, Sonic Automotive

December 20, 2012 - Industry News

Penske Automotive Adds to Board of Directors

Sandra E. Pierce, former president and CEO of Charter One Bank Michigan, was appointed the dealer group’s board of directors.

Tags: Charter One Bank Michigan, Penske Automotive Group, Roger S. Penske, Sandra Pierce

November 15, 2012 - Industry News

Penske Enters Wisconsin Market

Penske is extending its footprint into Wisconsin with the acquisition of two dealerships. Officials say the locations should contribute annualized revenues of approximately $130 million.

Tags: Acquisition, Jon Lancaster Toyota Scion, Lexus of Madison, PAG, Penske Automotive Group, Wisconsin

November 8, 2012 - Industry News

Penske Loses 1,000 Vehicles to Hurricane Sandy

Penske Automotive Group estimates the business impact from superstorm Sandy to be hefty, with the dealer group saying that 36 of its stores along the East Coast were impacted and lost about three to four days of business.

Tags: Hurricane Sandy, losses, Penske Automotive Group, Roger Penske, sales, Superstorm Sandy

August 2, 2012 - Industry News

Penske Reports 19.2 Percent Revenue Increase

Penske Automotive Group reports record second-quarter income from continuing operations and earnings per share.

Tags: earnings per share, Penske Automotive Group, Q2 2012, Revenue

April 26, 2012 - Industry News

Penske Records Most Profitable Q1

Fueled by an 18.1 percent increase in total retail sales, Penske Automotive Group achieved it most profitable first quarter in company history.

Tags: Penske Automotive Group

May 10, 2011 - Industry News

Penske Automotive Names David Jones as EVP and CFO

Penske Automotive Group Inc. announced Monday that David K. Jones, the company’s vice president and CFO of its European operations, has been named executive vice president and chief financial officer, effective immediately.

Tags: Penske Automotive Group

October 26, 2010 - Industry News

No C4C, No Problem, Dealers Report

Despite not having a sales boost from last year’s Cash for Clunkers, three of the largest dealer groups in the nation reported year-over-year increases in third-quarter revenues.

Tags: Asbury Automotive, Penske Automotive Group, Sonic Automotive, Vehicle Sales

October 1, 2009 - Industry News

GM to Close Saturn After Penske Deal Collapses

After its deal with Penske Automotive Group Inc. collapsed, General Motors announced late Wednesday that it will begin winding down the Saturn brand and its dealership network.

Tags: General Motors, Penske Automotive Group, saturn

September 30, 2009 - Industry News

Penske Ends Discussions to Acquire Saturn From GM

Penske Automotive Group Inc. today announced that it has terminated its discussions with General Motors Company to acquire the Saturn brand, citing concerns directly related to the future supply of vehicles beyond the supply period it had negotiated with GM.

Tags: General Motors, Penske Automotive Group, saturn

July 29, 2009 - Industry News

Penske Automotive Reports Decline in 2Q Income

Penske Automotive Group Inc. reported second quarter income from continuing operations of $19.8 million, down from $39.0 million reported in the year-ago period. Total revenue in the second quarter was $2.3 billion compared to $3.3 billion in the same period last year.

Tags: Penske Automotive Group

June 5, 2009 - Industry News

General Motors, Penske Reach Tentative Deal Over Saturn

General Motors Corp. and Penske Automotive Group confirmed last Friday a tentative deal for GM to sell its Saturn brand to the dealer group.

Tags: General Motors, Penske Automotive Group, saturn

« Previous1Next »