2017 Press Releases

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12/12/2017Penske Automotive Expands Presence In The United Kingdom
Signs Agreement to Acquire The Car People - A U.K. Used Vehicle Supermarket Group Nearly Doubles the size of its U.K.-based Used Vehicle Supermarket business BLOOMFIELD HILLS, Mich., Dec. 12, 2017 /PRNewswire/ -- Penske Automotive Group (NYSE:PAG), an international transportation services provider, announced today that it has signed an agreement to acquire The Car People (https://www.thecarpeople.co.uk), one of the U.K.'s leading retailers of used vehicles.  The Car People retails high-q... 
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10/25/2017Penske Automotive Reports Record Third Quarter Results
Highest Third Quarter Income From Continuing Operations and Earnings Per Share in Company History Earnings Per Share From Continuing Operations Increases 6.8% to $1.10 Increases Securities Repurchase Authorization to $200 Million BLOOMFIELD HILLS, Mich., Oct. 25, 2017 /PRNewswire/ --   Third Quarter 2017 Nine Months 2017 - Revenue Increases 7.2% to $5.5 Billion; Excluding Foreign Exchange ... 
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10/12/2017Penske Automotive Group To Host Third Quarter Earnings Conference Call
BLOOMFIELD HILLS, Mich., Oct. 12, 2017 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, will host its third quarter financial results conference call as follows:   WHEN: Wednesday, October 25, 2017 TIME: 2:00 p.m. Eastern Daylight Saving Time PHONE: United States, please call (800) 230-1766 International, please call (612) 332-0107 ... 
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10/11/2017Penske Automotive Increases Dividend
Shareholders to Receive $0.33 per Share BLOOMFIELD HILLS, Mich., Oct. 11, 2017 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE:PAG), an international transportation services company, today announced that its Board of Directors has approved an increase in the cash dividend to $0.33 per share for the third quarter of 2017.  Penske Automotive Group President Robert H. Kurnick, Jr., said, "For the 26th consecutive quarter, I am pleased to announce that our Board of Directors has increas... 
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09/28/2017Penske Automotive Comments on Impact from Hurricanes
BLOOMFIELD HILLS, Mich., Sept. 28, 2017 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, today provided a preliminary estimate of the impact on its operations in Florida, Georgia, Texas and Puerto Rico from Hurricanes Irma, Harvey, and Maria. The company operates 19 dealerships and 3 collision centers in the affected areas which represented approximately 9% of the company's consolidated revenue for the six months ended June 30, 2017. ... 
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09/07/2017Penske Automotive Increases Ownership Interest in Penske Truck Leasing
Estimates Accretion of $0.10 on an Annualized Basis BLOOMFIELD HILLS, Mich., Sept. 7, 2017 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE:PAG), an international transportation services company, announced today that it has acquired an additional 5.5% interest in Penske Truck Leasing Co., L.P. ("PTL"),  a leading provider of transportation services and supply chain management, from subsidiaries of GE Capital Global Holdings, LLC, for approximately $239 million. The purchase pri... 
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09/01/2017Penske Automotive Group Appoints Greg Smith As New Director
      BLOOMFIELD HILLS, Mich.    ,    Sept. 1, 2017    /PRNewswire/ --     Penske Automotive Group, Inc.    (NYSE:PAG), an international transportation services company, today announced that Greg Smith has been appointed to its Board of Directors as an independent director.    "We welcome Mr. Smith to the Penske Automotive Group Board of Directors and look forward to working directly with him to grow our company," sa... 
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08/01/2017Penske Automotive Group Announces Pricing Of $300.0 Million Senior Subordinated Notes
BLOOMFIELD HILLS, Mich., Aug. 1, 2017 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, today announced the pricing of $300.0 million aggregate principal amount of fixed rate Senior Subordinated Notes due 2020 (the "2020 Notes") at 3.75%. The sale of the 2020 Notes, which is subject to customary closing conditions, is expected to be completed on August 15, 2017. The company intends to use the net proceeds of this offering to repay amo... 
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08/01/2017Penske Automotive Group Announces $300.0 Million Senior Subordinated Notes Offering
BLOOMFIELD HILLS, Mich., Aug. 1, 2017 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, today announced that it intends to offer $300.0 million aggregate principal amount of fixed rate Senior Subordinated Notes due 2020 (the "2020 Notes"), subject to market and other customary closing conditions, pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC"). The company intends to ... 
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07/28/2017Penske Automotive Group Dealerships Named Best To Work For
Twenty Dealerships Recognized by Automotive News As Among The Best in the United States BLOOMFIELD HILLS, Mich., July 28, 2017 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, announced today that twenty (20) of its dealerships have been named by Automotive News as among the 100 Best Dealerships to Work For in the United States. The award winning dealerships are: Mercedes-Benz of Chandler, Chandler, AZ - www.mercedesbenzo... 
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07/27/2017Penske Automotive Reports Record Second Quarter Results
Highest Quarterly Income From Continuing Operations and Earnings Per Share in Company History Earnings per Share From Continuing Operations Increases 10.8% to $1.23 Excluding Foreign Exchange, Earnings Per Share Increases 14.4% BLOOMFIELD HILLS, Mich., July 27, 2017 /PRNewswire/ -- Second Quarter 2017 Six Months 2017 -- Revenue Increases 2.5% to $5.4 Billion; Excluding Foreign Exchange +6.6% -- Revenue Increases 3.8% to $10.5 Bi... 
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07/26/2017Penske Automotive Increases Dividend
Shareholders to Receive $0.32 per Share BLOOMFIELD HILLS, Mich., July 26, 2017 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE:PAG), an international transportation services company, today announced that its Board of Directors has approved an increase in the cash dividend to $0.32 per share for the second quarter of 2017.  Commenting on the dividend, Penske Automotive Group President Robert H. Kurnick, Jr., said, "For the 25th consecutive quarter, the Board of Directors is... 
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07/11/2017Penske Automotive Group To Host Second Quarter Earnings Conference Call
BLOOMFIELD HILLS, Mich., July 11, 2017 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, will host its second quarter financial results conference call as follows: WHEN: Thursday, July 27, 2017 TIME: 2:00 p.m. Eastern Daylight Saving Time PHONE: United States, please call (800) 288-8961 International, please call (612) 288-0337 ... 
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05/10/2017Penske Automotive Increases Dividend
Shareholders to Receive $0.31 per Share BLOOMFIELD HILLS, Mich., May 10, 2017 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, today announced that its Board of Directors has approved an increase in the cash dividend to $0.31 per share for the first quarter of 2017.  Commenting on the dividend, Penske Automotive Group President Robert H. Kurnick, Jr., said, "Based on the strength of the company's financial performance... 
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04/26/2017Penske Automotive Reports Record First Quarter Results
Acquisitions and Strong U.K. Performance Produce Record Results Earnings Per Share From Continuing Operations Increases 7.8% to $0.97 BLOOMFIELD HILLS, Mich., April 26, 2017 /PRNewswire/ --   First Quarter 2017 Highlights -- Revenue Increases 5.3% to $5.1 Billion; Excluding Foreign Exchange +11.3% -- Same-Store Retail Revenue Decreases 2.2%; Excluding Foreign Exchange +3.7% -- Income from Continuing Operations Attributable t... 
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04/10/2017Penske Automotive Acquires Mercedes-Benz Dealership In Phoenix, Arizona
BLOOMFIELD HILLS, Mich., April 10, 2017 /PRNewswire/ -- Penske Automotive Group (NYSE: PAG), an international transportation services provider, announced today that it has acquired Schumacher European, LTD., a Mercedes-Benz and Sprinter dealership in Phoenix, Arizona.  This new dealership is located contiguous to the company's Scottsdale 101 Auto Collection which currently represents fifteen franchises.  "Schumacher European is a well-respected and top performing Mercedes-Benz... 
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04/05/2017Penske Automotive Group To Host First Quarter Earnings Conference Call
BLOOMFIELD HILLS, Mich., April 5, 2017 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, will host its first quarter financial results conference call as follows: WHEN: Wednesday, April 26, 2017 TIME: 2:00 p.m. Eastern Daylight Saving Time PHONE: United States, please call (800) 700-7860 International, please call (612) 33... 
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03/07/2017Penske Automotive Acquires Jaguar And Land Rover Dealerships In Paramus, New Jersey
BLOOMFIELD HILLS, Mich., March 7, 2017 /PRNewswire/ -- Penske Automotive Group (NYSE: PAG), an international transportation services provider, announced today that it has expanded its presence in the United States with the acquisition of the Jaguar and Land Rover dealerships in Paramus, New Jersey from the Prestige Family of Fine Cars.  The acquisition is expected to generate estimated annual revenue of approximately $215 million.  Commenting on the acquisition, Company Presid... 
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02/16/2017Penske Automotive Completes Acquisition of U.K.-Based CarShop
Scalable, Stand-alone Used Car Centers to Expand PAG's U.K. Operations Expected Accretion of $0.07 to $0.09 per Share BLOOMFIELD HILLS, Mich., Feb. 16, 2017 /PRNewswire/ -- Penske Automotive Group (NYSE:PAG), an international transportation services provider and a leading retailer of prestige vehicles in the U.K., announced today that it has completed the acquisition of CarShop, one of the U.K.'s leading retailers of used vehicles.  CarShop retails high-quality used vehicles at... 
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02/09/2017Penske Automotive Increases Dividend
Shareholders to Receive $0.30 per Share BLOOMFIELD HILLS, Mich., Feb. 9, 2017 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE:PAG), an international transportation services company, today announced that its Board of Directors has approved an increase in the cash dividend to $0.30 per share for the fourth quarter of 2016.  Commenting on the dividend, Penske Automotive Group President Robert H. Kurnick, Jr., said, "Based on the strength of the company's financial performance... 
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02/07/2017Penske Automotive Reports Record Fourth Quarter And Full Year Results
Full Year Income From Continuing Operations of $343.9 Million and Earnings Per Share of $4.00 Q4 Income from Continuing Operations of $82.5 Million and Earnings Per Share of $0.97 Q4 Adjusted Income from Continuing Operations of $77.4 Million and Adjusted Earnings Per Share of $0.91 BLOOMFIELD HILLS, Mich., Feb. 7, 2017 /PRNewswire/ -- Fourth Quarter 2016 Twelve Months 2016 -- Revenue Decreases 0.7% to $4.9 Billion, Excluding Foreign Exchange ... 
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01/17/2017Penske Automotive Group To Host Fourth Quarter And Full-Year Earnings Conference Call
BLOOMFIELD HILLS, Mich., Jan. 17, 2017 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, will host its fourth quarter and full-year financial results conference call as follows: WHEN: Tuesday, February 7, 2017 TIME: 2:00 p.m. Eastern Standard Time PHONE: United States, please call (800) 553-5275 International, please ca... 
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01/11/2017Penske Automotive Completes Acquisition Of CarSense
Scalable, Stand-alone Used Car Centers to Expand PAG Operations Expected Accretion of $0.07 to $0.09 per Share BLOOMFIELD HILLS, Mich., Jan. 11, 2017 /PRNewswire/ -- Penske Automotive Group (NYSE:PAG), an international transportation services provider, announced today that it has completed the acquisition of CarSense, a stand-alone specialty retailer of used vehicles in the United States.  CarSense has five locations operating in the Philadelphia and Pittsburgh, Pennsylvani... 
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01/06/2017Penske Automotive Expands Presence In The United Kingdom
Signs Agreement to Acquire CarShop -- A U.K. Used Vehicle Supermarket Scalable, Stand-alone Used Car Centers to Expand PAG's UK Operations Expected Accretion of $0.07 to $0.09 per Share BLOOMFIELD HILLS, Mich., Jan. 6, 2017 /PRNewswire/ -- Penske Automotive Group (NYSE: PAG), an international transportation services provider and the leading retailer of prestige vehicles in the U.K., announced today that it has signed an agreement to acquire CarShop, one of the U.K.'s leading reta... 
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