Penske Automotive Group - Tagged Posts

Penske Automotive Group More Than Doubles Q1 Net Income

Penske Automotive Group first quarter net income sored from $183.1 million year over year to $369.5 million.

AutoNation, Sonic Set Records as Publics Grow PVR

All six of America’s big publicly traded dealership groups enjoyed year-over-year gains in F&I profit per vehicle retailed in Q3, led by record highs at AutoNation and Sonic Automotive.

AutoNation Nears $2,000 PVR as Big Groups Grow F&I

The nation’s six largest publicly traded dealer groups all increased F&I profit per vehicle retailed in the second quarter, led by AutoNation’s $1,926 per copy and Lithia Motors’ segment-leading 11% improvement.

Penske to Install Reynolds docuPAD in All Stores

Penske said today it intends to integrate electronic document management to improve workflow and efficiency and install the Reynolds docuPAD system in F&I departments across more than 120 Penske dealerships.

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.

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.

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.

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.

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.

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.