2014 Press Releases

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11/18/2014Penske Automotive Group Announces Pricing Of $300.0 Million Senior Subordinated Notes
BLOOMFIELD HILLS, Mich., Nov. 18, 2014 /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 2024 (the "2024 Notes") at 5.375%.  The sale of the 2024 Notes, which is subject to customary closing conditions, is expected to be completed on November 21, 2014. The company intends to use the net proceeds from the 2024 Notes to ... 
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11/18/2014Penske Automotive Group Announces $300.0 Million Senior Subordinated Notes Offering
BLOOMFIELD HILLS, Mich., Nov. 18, 2014 /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 2024 (the "2024 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 ... 
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11/04/2014Penske Automotive Completes Acquisition Of Heavy-Duty Truck Dealership Group
Estimated Annual Incremental Earnings per Share of $0.12 to $0.14 BLOOMFIELD HILLS, Mich., Nov. 4, 2014 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, announced today that it has completed the acquisition of a majority stake in The Around the Clock Freightliner Group ("ATC"), a heavy- and medium-duty truck dealership group located in Texas, Oklahoma and New Mexico.  Penske Automotive Group now owns approximately 91% of ATC. AT... 
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10/29/2014Penske Automotive Reports Record Third Quarter 2014 Results
Signs Agreements to Acquire Majority Stake in Heavy-Duty Truck Dealership Group BLOOMFIELD HILLS, Mich., Oct. 29, 2014 /PRNewswire/ -- Third Quarter 2014 Nine Months 2014 ·   Revenue Increases 17.5% to $4.4 Billion ·   Revenue Increases 19.9% to $12.9 Billion ·   Same-store Retail Revenue Increases 11.2% ·   Same-store Retail Revenue Increases 12.8% ·   Income from Continuing Operations Increases 15.6% to $76.4 M... 
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10/15/2014Penske Automotive Increases Dividend Shareholders to Receive $0.21 per Share
BLOOMFIELD HILLS, Mich., Oct. 15, 2014 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE:PAG), an international transportation services company, today announced that its Board of Directors has approved a cash dividend of $0.21 per share for the third quarter of 2014.  The dividend is payable on December 1, 2014, to shareholders of record on November 10, 2014. Penske Automotive Group President Robert H. Kurnick, Jr., said, "We are pleased to offer our shareholders another increase in the qua... 
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10/07/2014Penske Automotive Group To Host Third Quarter Earnings Conference Call
BLOOMFIELD HILLS, Mich., Oct. 7, 2014 /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 29, 2014 TIME: 2:00 p.m. Eastern Daylight Time PHONE: United States, please call (877) 260-8896 International, please call (612) 332-0530... 
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10/01/2014Penske Automotive Completes MTU-Detroit Diesel Australia Acquisition
BLOOMFIELD HILLS, Mich., Oct. 1, 2014 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, announced today that it has completed the acquisition of MTU Detroit Diesel Australia ("MTU-DDA") from Daimler AG and MTU Friedrichshafen (an affiliate of Rolls-Royce Power Systems).  MTU-DDA is expected to contribute an estimated $225 - $250 million in annualized revenue to Penske Automotive Group.  The purchase price was financed using available cas... 
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09/15/2014Penske Automotive To Expand Presence In Australia
Adds engine and power system distribution to complement existing truck distribution business BLOOMFIELD HILLS, Mich., Sept. 15, 2014 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, announced today that it has signed an agreement to acquire MTU Detroit Diesel Australia ("MTU-DDA"), a leading distributor of the world's finest diesel and gas engines and power systems, operating across the on- and off-highway markets in Australia, New... 
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08/12/2014Penske Opens First Truck Rental Location in Australia
READING, Pa., Aug. 12, 2014 /PRNewswire/ -- Brisbane, Australia-based Penske Commercial Vehicles has announced a new venture with U.S.-based Penske Truck Leasing, Co., L.P. to offer commercial truck rental services in Australia. The venture, Penske Commercial Leasing Australia will operate under the brand name Penske Truck Rental. The collaboration combines Penske Truck Leasing's fleet operations expertise with the market knowledge of Penske Commercial Vehicles. Penske Commercial Vehicles, ... 
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07/30/2014Penske Automotive Reports Record Results
Most Profitable Quarter in Company History BLOOMFIELD HILLS, Mich., July 30, 2014 /PRNewswire/ -- Second Quarter 2014 Six Months 2014 Revenue Increases 21.4% to $4.4 Billion Revenue Increases 21.1% to $8.5 Billion Same-store Retail Revenue Increases 12.7% Same-store Retail Revenue Increases 13.8% Income from Continuing Opera... 
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07/16/2014Penske Automotive Appoints New Director
BLOOMFIELD HILLS, Mich., July 16, 2014 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE:PAG), an international transportation services company, today announced that Mr. Kanji Sasaki has been appointed to its Board of Directors.  Mr. Sasaki fills a vacancy created by the resignation of Yoshimi Namba from the PAG Board.  "We welcome Mr. Sasaki to the Penske Automotive Group Board of Directors and look forward to working directly with him to grow our company," said Penske Au... 
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07/16/2014Penske Automotive Increases Dividend
Shareholders to Receive $0.20 per Share BLOOMFIELD HILLS, Mich., July 16, 2014 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, today announced that its Board of Directors has approved a cash dividend of $0.20 per share for the second quarter of 2014. The dividend is payable on September 2, 2014, to shareholders of record on August 11, 2014. Penske Automotive Group President Robert H. Kurnick, Jr., said, "We are pleased t... 
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07/09/2014Penske Automotive Group To Host Second Quarter Earnings Conference Call
BLOOMFIELD HILLS, Mich., July 9, 2014 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, will host its second quarter financial results conference call as follows: WHEN: Wednesday, July 30, 2014 TIME: 2:00 p.m. Eastern Daylight Time PHONE: United States, please call (800) 230-1085 International, please call (612) 288-0340 Note:  Callers should dial in ... 
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07/08/2014Penske Automotive Group Dealerships Named Best To Work For
Twelve Dealerships Recognized by Automotive News As Among the Best in the United States BLOOMFIELD HILLS, Mich., July 8, 2014 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE:PAG), an international transportation services company, announced today that twelve of its dealerships have been named by Automotive News as among the Best Dealerships to Work For in the United States.  The award winning dealerships are: Audi of Willoughby, Willoughby, Ohio – www.audiwilloughby.com Honda... 
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05/02/2014Penske Automotive Increases Dividend
Shareholders to Receive $0.19 per Share BLOOMFIELD HILLS, Mich., May 2, 2014 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, today announced that its Board of Directors has approved a cash dividend of $0.19 per share for the first quarter of 2014.  The dividend is payable on June 2, 2014, to shareholders of record on May 12, 2014. Penske Automotive Group President Robert H. Kurnick, Jr., said, "Our B... 
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04/24/2014Penske Automotive Reports Record Results
Most Profitable Quarter in Company History BLOOMFIELD HILLS, Mich., April 24, 2014 /PRNewswire/ -- Revenue Increases 20.9% to $4.0 Billion Same-store Retail Revenue Increases 14.9% Income from Continuing Operations Increases 15.4% to $66.1 Million EPS from Continuing Operations Rises 15.9% to $0.73 per Share EBITDA Increases ... 
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04/02/2014Penske Automotive Group to Host First Quarter Earnings Conference Call
BLOOMFIELD HILLS, Mich., April 2, 2014 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE:PAG), an international transportation services company, will host its first quarter financial results conference call as follows:   WHEN:     Thursday, April 24, 2014 TIME:         2:00 p.m. Eastern Daylight Time PHONE:     ... 
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03/13/2014Penske Automotive Acquires BMW Of Greenwich
Expands Presence in Key Strategic Market Area in the Northeast U.S. BLOOMFIELD HILLS, Mich., March 13, 2014 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE:PAG), an international transportation services company, announced today that it has acquired BMW of Greenwich located in Greenwich, Connecticut.  The company estimates the new BMW dealership will generate approximately $190 million in revenue on an annualized basis.  (LOGO: http://photos.prnewswire.com/prnvar/20130530... 
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02/28/2014Penske Automotive To Expand Presence In South Florida
Awarded an Open Point from Porsche Cars North America BLOOMFIELD HILLS, Mich., Feb. 28, 2014 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, has signed a letter of intent with Porsche Cars North America to construct a new Porsche dealership in Broward County.  This new dealership will represent the company's seventh (7th) Porsche dealership in the United States and fifteenth (15th) worldwide. (Logo:  http://photos.prnewswire.c... 
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02/13/2014Penske Automotive Reports Record Fourth Quarter and Full Year 2013 Results
BLOOMFIELD HILLS, Mich., Feb. 13, 2014 /PRNewswire/ -- Fourth Quarter 2013      Twelve Months 2013 Revenue Increases 15.0% to $3.9 Billion  Revenue Increases 12.4% to $14.7 Billion Same-store Retail Revenue Increases 12.4%    Same-store Retail Revenue Increases 10.9% Income from Continuing Operations Increases 19.3% to $61.7 M... 
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01/28/2014Penske Automotive Increases Dividend to $0.18 Per Share
BLOOMFIELD HILLS, Mich., Jan. 28, 2014 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE:PAG), an international transportation services company, today announced that its Board of Directors has approved a cash dividend of $0.18 per share for the fourth quarter of 2013. The dividend is payable on March 3, 2014, to shareholders of record on February 10, 2014. (Logo: http://photos.prnewswire.com/prnh/20130530/MM23675LOGO) Penske Automotive Group President Robert H. Kurnick, Jr., said, "Our ... 
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01/16/2014Penske Automotive Group To Host Fourth Quarter And Full-Year Earnings Conference Call
BLOOMFIELD HILLS, Mich., Jan. 16, 2014 /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:  Thursday, February 13, 2014 TIME:   2:00 p.m. Eastern Standard Time PHONE: United States, please call (800) 230-1093 International, please c... 
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