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Press Release

Penske Automotive Acquires Land Rover Dealership
Expands Presence in Key Strategic Northeast U.S. Market Area

BLOOMFIELD HILLS, Mich., Jan. 26, 2015 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), an international transportation services company, announced today the acquisition of a Land Rover dealership in Darien, Connecticut.  The company estimates the dealership will generate approximately $50 million of revenue annually.   

Penske Automotive Group President Robert H. Kurnick, Jr., said, "We are pleased to add the Land Rover brand to our existing automotive dealership operations in Connecticut.  For almost 30 years, this dealership has been serving customers in Darien, Greenwich, Westport and Stamford with a dedication to customer service.  This brand complements our existing presence with Audi, BMW, Honda, Mercedes-Benz, and Porsche in the Connecticut market and connects our business from Fairfield, through Darien and into Greenwich, allowing us to continue scaling our operations." 

Caution Concerning Forward Looking Statements
Statements in this press release may involve forward-looking statements, including forward-looking statements regarding Penske Automotive Group, Inc.'s future sales potential and outlook.  Actual results may vary materially because of risks and uncertainties that are difficult to predict.  These risks and uncertainties include, among others: economic conditions generally, conditions in the credit markets and changes in interest rates, adverse conditions affecting a particular manufacturer, including the adverse impact to the vehicle and parts supply chain due to natural disasters or other disruptions that interrupt the supply of vehicles or parts to us; changes in consumer credit availability, the outcome of legal and administrative matters, and other factors over which management has limited control.  These forward-looking statements should be evaluated together with additional information about Penske Automotive's business, markets, conditions and other uncertainties, which could affect Penske Automotive's future performance.  These risks and uncertainties are addressed in Penske Automotive's Form 10-K for the year ended December 31, 2013, and its other filings with the Securities and Exchange Commission ("SEC").  This press release speaks only as of its date, and Penske Automotive disclaims any duty to update the information herein.

About Penske Automotive
Penske Automotive Group, Inc., (NYSE: PAG) headquartered in Bloomfield Hills, Michigan, is an international transportation services company that operates retail automotive and commercial truck dealerships principally in the United States and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems and related parts and services principally in Australia and New Zealand.  PAG employs more than 20,000 people worldwide and is a member of the Fortune 500 and Russell 2000. For additional information, visit the company's website at www.penskeautomotive.com.

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Inquiries should contact:

Contacts:

David K. Jones

Anthony R. Pordon

Executive Vice President and

Chief Financial Officer

Executive Vice President – Investor Relations and Corporate Development

248-648-2800

248-648-2540

dave.jones@penskeautomotive.com

tpordon@penskeautomotive.com

 

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SOURCE Penske Automotive Group, Inc.