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.
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.
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.
Penske Automotive Group reports record second-quarter income from continuing operations and earnings per share.
Fueled by an 18.1 percent increase in total retail sales, Penske Automotive Group achieved it most profitable first quarter in company history.
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.
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.
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.
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.
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.
General Motors Corp. and Penske Automotive Group confirmed last Friday a tentative deal for GM to sell its Saturn brand to the dealer group.
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