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Tag Archives: roger penske
IndyCar Cheating – New Independent Officiating for 2026 Series
“We are excited to launch this new structure of IndyCar officiating and know the officiating board will approach this charge with diligence and a sense of shared responsibility. They will work independently to hire the right person to carry this mission forward and provide successful implementation for the 2026 seasons,” said Mark Miles, Penske Entertainment Corp. President and CEO. [Roger Penske owns the IndyCar Series and the Indianapolis Motor Speedway. Read AutoInformed.com on: IndyCar – Penske Fires Senior Leadership Team. It was at least two instances of Penske team cheating that forced the issue. Still the IOB will be funded by Penske. Letting team owners including Penske run the rule enforcement so to speak is a dubious proposition. Key here is the next step. Who is the Managing Director? – AutoCrat.] Continue reading
Posted in auto news, marketing, milestones, news analysis, people, racing, shows and events
Tagged 2026 NTT IndyCar Series, auto industry commentary, AutoInformed news, autoinformed.com, automotive blog, Automotive news and analysis, Federation Internationale de I’Automobile, fia, FIA Drivers Commission, INDY NXT, indycar, Ken Zino of AutoInformed, Ken Zino of AutoInformed.com writing as AutoCrat, Mark Miles, Penske Entertainment Corp., Raj Nair, Ray Evernham, roger penske, Ronan Morgan, X @KenAutoinformed
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Penske Automotive Group Increases Dividend Yet Again
“We are pleased to reward shareholders with another increase in the quarterly dividend”, said Penske Automotive Group President Robert H. Kurnick, Jr. “We remain confident in our business and continue to generate strong cash flow, preserve a healthy balance sheet and maintain a disciplined approach to capital allocation.”
Penske Automotive Group’s Third Quarter 2025 Earnings Call is upcoming on 29 October 2025 at 2 pm ET. AutoCrat opines that this is a signal that the earnings will be strong. However, all the usual SEC forward looking statement caveats apply. Continue reading
Posted in auto news, customer satisfaction, economy, financial results, milestones, mobility company, news analysis, results, shows and events, transportation
Tagged auto industry commentary, AutoInformed news, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino of AutoInformed, Ken Zino of AutoInformed.com writing as AutoCrat, NYSE: PAG, penske automotive group, Robert H. Kurnick Jr, roger penske, X @KenAutoinformed
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IMSA Petit Le Mans – Cadillac, Corvette, Porsche Win in Finale
IMSA says that 241 race transporters as well as the cars and trucks that carried in thousands of week-long campers and daily ticket holders to the Road Atlanta infield where the 10-hour Petite LeMans was scheduled to run was at capacity by early Thursday afternoon. Local landowners then rented their properties to IMSA to create additional parking areas outside the 2.54-mile circuit for the season ending series finale.
“We had a complete sellout,” said IMSA President John Doonan. “We had to stop selling tickets because we couldn’t fit any more people in. From the attendance to the racing, it was truly an epic weekend.” Continue reading
Posted in auto news, racing, results, shows and events
Tagged 10-hour Petite LeMans, auto industry commentary, AutoInformed news, autoinformed.com, automotive blog, Automotive news and analysis, Cadillac Racing, Corvette Racing by Pratt Miller Motorsports, Earl Bamber, Filipe Albuquerque, Frederik Vesti, GTP, IMSA WeatherTech SportsCar Championship, Jack Aitken, John Doonan, Ken Zino of AutoInformed, Ken Zino of AutoInformed.com writing as AutoCrat, Laurens Vanthoor, Motul Petit Le Mans, Nicky Catsburg, Nico Varrone, Porsche 963 racecars, Ricky Taylor, Road Atlanta, roger penske, Thomas Laudenbach, Tommy Milner, Wayne Taylor Racing V-Series.R, Whelen Cadillac V-Series.R, X @KenAutoinformed
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Penske Drives His Porsche 963 RSP
Porsche AG said today that Roger Penske took the wheel of the Porsche 963 RSP,* a one-off creation bearing his initials, for the first time. The car was later showcased during Monterey Car Week in California before joining his private … Continue reading
Posted in auto news, milestones, people, performance, racing, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Bruce Canepa, Ken Zino, Patrick Long, Porsche 963 RSP, Porsche Experience Center in Atlanta, roger penske, RS Spyder, Timo Resch, WeatherTech Raceway Laguna Seca, X @KenAutoinformed
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Penske Automotive Group Posts Record $1.3B Q2 Gross Profit
“I am pleased with the performance of our diversified international transportation services business in the second quarter. The second quarter represented the third consecutive quarter of year-over-year earnings growth driven by an overall gross margin increase of 50 basis points, an increase of 50 basis points in retail automotive service and parts gross margin, and a 30-basis point improvement in selling, general and administrative expenses as a percentage of gross profit,” said Chair Roger Penske.
“New and used vehicle gross profit per unit retailed remained stable and strong while retail automotive same-store service and parts revenue increased 7%.” Penske continued, “While we continue to monitor the potential impact to our business from tariffs, the benefits provided by our premium brand mix, geographic diversification across the North American retail commercial truck, the U.S. and international automotive markets, and the diversification of our gross profit across new and used vehicles, service and parts, and finance and insurance, coupled with our highly variable cost structure, provide us with opportunities to flex our business to meet the changing automotive and commercial truck landscape,” Penske said. Continue reading
Posted in auto news, economy, financial results, mobility company, news analysis
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino, pag, penske automotive group, Penske Transportation Solutions, Premier Truck Group, roger penske, X @KenAutoinformed
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Penske Automotive Group Increases Dividend Again
“We are pleased to provide shareholders with another increase in the quarterly dividend, reflecting the continued strength of our balance sheet and strong cash flow,” said Penske Automotive Group President Robert H. Kurnick, Jr Continue reading
Posted in auto news, financial results, milestones, news analysis, shows and events, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino, pag, penske automotive group, Penske Entertainment, Penske Transportation Solutions, Robert H. Kurnick Jr, roger penske, X @KenAutoinformed
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IndyCar – Penske Fires Senior Leadership Team
Team Penske announced today the departures of IndyCar Team President, Tim Cindric, IndyCar Managing Director, Ron Ruzewski and IndyCar General Manager Kyle Moyer from the organization. The move comes from the turbulence created by an aerodynamic cheating scandal during qualifying for the 119th Indianapolis 500.
“Nothing is more important than the integrity of our sport and our race teams. We have had organizational failures during the last two years, and we had to make necessary changes. I apologize to our fans, our partners and our organization for letting them down,” said Roger Penske, who owns the IndyCar Series and the Speedway. Continue reading
Posted in auto news, fools 'n frauds, news, news analysis, people, racing, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Josef Newgarden, Ken Zino, Penske Entertainment, roger penske, Team Penske, Will Power, X @KenAutoinformed
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Penske Automotive Group – Q1 2025 +13% Net Income
Penske Automotive Group (NYSE: PAG) today posted Q1 2025 financial results that showed record first quarter revenue with an increase of 2% to $7.6 Billion. Adjusted earnings before taxes increased 5% to $310 Million. Adjusted earnings per share increased 6% to $3.39.
“Our diversified international transportation services business generated record first quarter revenue, the seventh consecutive quarter of stable gross margin, and a 70-basis point improvement of adjusted selling, general, and administrative expenses as a percentage of gross profit. New and used vehicle gross profit per unit retailed remained consistent and strong with new vehicle gross declining only $87 per unit while used vehicle gross increased $352 per unit when compared to the fourth quarter of 2024,” said Chair Roger Penske. Continue reading
Posted in economy, financial results, mobility company, news, news analysis, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino, NYSE: PAG, pag, Penske Automotive Group Q1 2025 financial results, Premier Truck Group, roger penske, Sytner Select, X @KenAutoinformed
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Penske Automotive Group Posts Record Q4 Revenue of $7.7B
“I am pleased with our financial performance during the fourth quarter. Revenue increased 6% to $7.7 billion, a quarterly record. New and used automotive gross profit per unit retailed remained strong, including a $74 per unit sequential increase in new vehicle gross profit per unit retailed when compared to the third quarter of 2024, and same-store service and parts revenue and gross profit increased 7% and 9%, respectively,” said Chair Roger Penske.
The Company’s Board of Directors has approved a quarterly dividend of $1.22 per share, representing an increase of 2.5%, or $0.03 per share. This represents the Company’s 17th consecutive quarterly increase. The dividend is payable March 6, 2025, to shareholders of record as of February 24, 2025.
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Posted in auto news, economy, insurance, marketing, mobility company, news analysis, results, sales, shows and events, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino, penske automotive group, Penske Transportation Solutions, Premier Truck Group, roger penske, X @KenAutoinformed
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Penske Automotive Group Posts Lukewarm Q2 Results
“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
Penske Automotive Group Posts $1.3 billion in 2025 Earnings
Penske Automotive Group, Inc. (NYSE: PAG)* today announced 2025 Q4 and full-year 2025 results. For Q4 revenue was $7.8 billion compared to $8.1 billion for the same period in 2024. Net income attributable to common stockholders was $186.1 million compared … Continue reading →