Penske Automotive Group first quarter net income sored from $183.1 million year over year to $369.5 million.
A new partnership between Dent Wizard and Team Penske will put the F&I product provider’s logo on the No. 12 Ford Mustang driven by Ryan Blaney in two upcoming NASCAR races.
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.
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.
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.
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