Tag Archives: Penske Transportation Solutions

Penske Automotive Group Q3 2024 Net Income Drops

Posted on 30 October 2024 by Ken Zino

“I am pleased with our financial performance during the third quarter, despite the impact from the stop sale of certain vehicles and the residual impact from the CDK Cyber Security incident. New and used retail automotive gross profit per unit remained strong, retail automotive service and parts performed at record levels, the retail commercial truck business performed well, selling, general, and administrative expenses remained well controlled, and the equity income from Penske Transportation Solutions increased 14% sequentially despite continued freight challenges,” said Chair and CEO Roger Penske. Continue reading →

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Penske Automotive Group Posts Lukewarm Q2 Results

Posted on 31 July 2024 by Ken Zino

“I am pleased to see that our service and parts business remains strong and contributed to our record total quarterly revenue of $7.7 billion. In addition, our focus on efficiency and controlling costs drove a sequential decline in selling, general, and administrative expenses as a percentage of gross profit by 50 basis points to 70.2%,” said Chair and CEO Roger Penske, which is more or less what he said about Q1 results. Continue reading →

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Penske Automotive Group Buys Another BMW Store

Posted on 14 December 2021 by Ken Zino

This is the Group’s 48th BMW dealership world-wide. The acquired dealership is expected to generate approximately $100 million in annualized revenue. Continue reading →

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