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2012 Press Releases

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12/19/2012Penske Automotive Appoints Sandra E. Pierce to Board of Directors
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Dec. 19, 2012-- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that Sandra E. Pierce has been appointed to its Board of Directors. With this additional appointment, the Company now has twelve directors, including eight outside directors. Ms. Pierce recently retired as President and CEO, Charter One Bank Michigan, a division of Royal Bank of Scotland, wh... 
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11/13/2012Penske Automotive Enters Madison, Wisconsin, Market
Acquires Lexus and Toyota Dealerships BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Nov. 13, 2012-- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that it has acquired two dealerships, Jon Lancaster Toyota Scion and Lexus of Madison. The acquired dealerships are expected to contribute annualized revenues of approximately $130 million. Central Region Executive Vice President Whit Ramo... 
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11/07/2012Penske Automotive Estimates Impact from Super-storm Sandy
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Nov. 7, 2012-- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today estimated the business impact from super-storm Sandy. The Company’s 36 dealerships along the eastern United States were impacted by the storm and lost, on average, three to four days of business, with the dealerships in the New York metropolitan area suffering a more prolonged impact. The most s... 
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11/02/2012Penske Automotive Reports Third Quarter and Nine Month Results
Reports Record Third Quarter Adjusted Income from Continuing Operations Adjusted Earnings per Share from Continuing Operations Rises to $0.60 BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Nov. 2, 2012-- Penske Automotive Group, Inc. (NYSE:PAG):         Third Quarter 2012 ... 
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10/29/2012Penske Automotive Reschedules Third Quarter 2012 Earnings Release and Conference Call to November 2, 2012
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Oct. 29, 2012-- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced it has postponed the release of its third quarter 2012 earnings report and conference call/webcast due to emergency weather conditions associated with Hurricane Sandy to Friday, November 2, 2012. The Company has rescheduled the conference call discussing financial results relating to ... 
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10/18/2012Penske Automotive Increases Dividend 8.3%
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Oct. 18, 2012-- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that its Board of Directors has approved a cash dividend of $0.13 per share for the third quarter of 2012. The dividend is payable on December 3, 2012, to shareholders of record on November 12, 2012. “Increasing the dividend to $0.13 per share continues to demonstrate our commitment t... 
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10/09/2012Penske Automotive Acquires BMW/MINI Dealerships
Expands Presence in Orange County, California BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Oct. 9, 2012-- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that the Company has acquired Savage BMW/MINI of Ontario, located in Ontario, California. Savage BMW/MINI of Ontario is ranked in the top twenty-five percent of BMW dealerships in the United States according to new unit volume. The acquired dealer... 
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10/08/2012Penske Automotive Group to Host Third Quarter Earnings Conference Call
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Oct. 8, 2012-- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, will host its third quarter financial results conference call as follows:     WHEN: Tuesday, October 30, 2012 ... 
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09/27/2012Penske Automotive Group Completes Redemption of 7.75% Senior Subordinated Notes Due 2016
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Sep. 27, 2012-- Penske Automotive Group, Inc. (NYSE: PAG), an international automotive retailer, today announced that it has completed the redemption of its outstanding 7.75% Senior Subordinated Notes due 2016 (the “2016 Notes”). Approximately $57.3 million in aggregate principal amount of the 2016 Notes had remained outstanding and were redeemed at a price of 103.875%, plus accrued and unpaid interest... 
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08/28/2012Penske Automotive Group Announces Results of Early Tender for 7.75% Senior Subordinated Notes Due 2016
Announces Redemption of All Remaining 2016 Notes BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Aug. 28, 2012-- Penske Automotive Group, Inc. (NYSE: PAG), an international automotive retailer, today announced that holders of approximately $317.7 million aggregate principal amount (representing approximately 85%) of the 7.75% senior subordinated notes due 2016 (the “2016 Notes”) validly tendered their Notes prior to the early tender deadline... 
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08/28/2012Penske Automotive Group Completes $550 Million Offering of 5.75% Senior Subordinated Notes
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Aug. 28, 2012-- Penske Automotive Group, Inc. (NYSE: PAG), an international automotive retailer, today announced that it has completed the previously announced offering of $550 million aggregate principal amount of 5.75% senior subordinated notes due 2022 (the “2022 Notes”) in a private offering. The 2022 Notes were offered to qualified institutional buyers in the United States pursuant to Rule 144A, a... 
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08/14/2012Penske Automotive Group Announces Pricing of Upsized Offering of $550 Million Senior Subordinated Notes
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Aug. 14, 2012-- Penske Automotive Group, Inc. (NYSE: PAG), an international automotive retailer, today announced the pricing of $550 million aggregate principal amount of 5.75% Senior Subordinated Notes due 2022 (the “2022 Notes”) at par in a private offering to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S of the Securities Ac... 
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08/14/2012Penske Automotive Group Commences Tender Offer for 7.75% Senior Subordinated Notes Due 2016
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Aug. 14, 2012-- Penske Automotive Group, Inc. (NYSE: PAG), an international automotive retailer, today announced that it has commenced a cash tender offer for any and all of its outstanding $375.0 million aggregate principal amount of 7.75% Senior Subordinated Notes due 2016 (the “2016 Notes”). In connection with the tender offer, the Company is soliciting consents (“Consents”) from holders of the 2016 Notes ... 
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08/14/2012Penske Automotive Group Announces $400.0 Million Senior Subordinated Notes Offering
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Aug. 14, 2012-- Penske Automotive Group, Inc. (NYSE: PAG), an international automotive retailer, today announced that it intends to offer $400.0 million aggregate principal amount of fixed rate Senior Subordinated Notes due 2022 (the “2022 Notes”) in a private offering to qualified institutional buyers in the United States pursuant to Rule 144A, and outside the United States pursuant to Regulation S, under th... 
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07/31/2012Penske Automotive Reports Second Quarter and First-Half Results
Record Q2 Income from Continuing Operations and Earnings per Share BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Jul. 31, 2012-- Penske Automotive Group, Inc. (NYSE:PAG):           Second Quarter 2012   ... 
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07/19/2012Penske Automotive Increases Dividend 9%
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Jul. 19, 2012-- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that its Board of Directors has approved a cash dividend of $0.12 per share for the second quarter of 2012. The dividend is payable on September 4, 2012, to shareholders of record on August 10, 2012. President Rob Kurnick said, “Increasing the dividend to $0.12 per share demonstrates ... 
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07/16/2012Penske Automotive Group Completes Redemption of 3.5% Senior Subordinated Convertible Notes Due 2026
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Jul. 16, 2012-- Penske Automotive Group, Inc., (NYSE: PAG), an international automotive retailer, today announced that it has completed the redemption of $63.3 million in outstanding 3.5% Senior Subordinated Convertible Notes due 2026 (the "Notes"). The Company settled the obligation in cash; therefore, no shares were issued in the settlement of the Notes. Commenting on the redemption, Chief Fi... 
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07/13/2012Penske Automotive Group Dealerships Named Best to Work For
Five Dealerships Recognized by Automotive News as One of the Best in United States BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Jul. 13, 2012-- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, announced today that five 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: BMW... 
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07/10/2012Penske Automotive Group to Host Second Quarter Earnings Conference Call
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Jul. 10, 2012-- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, will host its second quarter financial results conference call as follows:     WHEN: Tuesday, July 31, 2012 ... 
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05/25/2012Penske Automotive Group Announces Redemption of 3.5% Senior Subordinated Convertible Notes Due 2026
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--May. 25, 2012-- Penske Automotive Group, Inc., (NYSE: PAG), an international automotive retailer, today announced that it has given notice to holders of the $63,324,000 outstanding principal amount of its 3.5% Senior Subordinated Convertible Notes due 2026 (the "Notes") that the Company is redeeming (the “Redemption”) all of the Notes at a redemption price of 100% of the principal amount of the Notes, ... 
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04/25/2012Penske Automotive Reports Record First Quarter Results
Total Retail Unit Sales Increase 18.1% Revenues Increase 17.9% to $3.2 Billion Same-store Retail Revenue Increases 7.5% Income from Continuing Operations Increases 37.3% to $50.0 Million EPS from Continuing Operations Increases 41.0% to $0.55 BLOOMFIELD HILLS, Mich., Apr 25, 2012 (BUSINESS WIRE) --Penske Automotive Group, Inc. (NYSE:PAG), an... 
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04/19/2012Penske Automotive Declares Dividend
Increases Dividend 10% to $0.11 per Share BLOOMFIELD HILLS, Mich., Apr 19, 2012 (BUSINESS WIRE) --Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that its Board of Directors has approved a 10% increase in the Company's dividend to $0.11 per share. The dividend is payable on June 1, 2012, to shareholders of record on May 10, 2012. President Rob Kurnick said, "Over the last twelve months the Board of Dire... 
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03/28/2012Penske Automotive Group to Host First Quarter Earnings Conference Call
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Mar. 28, 2012-- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, will host its first quarter financial results conference call as follows: WHEN:   Wednesday, April 25, 2012   TIME: ... 
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03/20/2012Penske Automotive to Expand International Presence
Establishes Joint Venture with Dealer Group in Bologna, Italy Joint Venture Acquires BMW/MINI Dealership in Monza, Italy BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Mar. 20, 2012-- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, has formed a joint venture with Andrea Mantellini (and family), operator of a BMW/MINI dealer group located in Bologna, Italy. The newly formed joint venture intends to acquire an... 
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03/15/2012Penske Automotive's U.K.-Based Dealership Group Named as One of the Top 25 Best Big Companies to Work For
Sytner Group Ranked Third on Coveted Listing BLOOMFIELD HILLS, Mich., Mar 15, 2012 (BUSINESS WIRE) --Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, is pleased to announce that its U.K.-based subsidiary, Sytner Group, has been named by The Sunday Times as one of the Top 25 Best Big Companies to Work For in the U.K., ranking third in the 2012 survey. The 2012 rankings recognized Sytner for its strong leadership, excelle... 
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02/15/2012Penske Automotive Reports Fourth Quarter and Full Year Results
Completes Most Profitable Year in Company History Fourth Quarter 2011 Revenue Increases 11% to $3.0 Billion Same-store Retail Revenue Increases 5.9% Operating Income Increases 16% to $76.6 mil Income from Continuing Operations Increases 22% to $42.5 Million EPS from Continuing Operations Increases 24% to $0.47 per share EBITDA Increases 16% to $89.7 Million Full Year 2011 Revenue Increases 12% to $11.6 Billion Same-store Retail Revenue Increases 8.2% Operating Income In... 
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01/31/2012Penske Automotive Declares Dividend
Increases Dividend 11% to $0.10 per share BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Jan. 31, 2012-- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that its Board of Directors has approved an 11% increase in the Company’s dividend to $0.10 per share. The dividend is payable on March 1, 2012, to shareholders of record on February 10, 2012. President Rob Kurnick said, “Increasing th... 
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01/27/2012Penske Automotive Group to Host Fourth Quarter and Full-Year Earnings Conference Call
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Jan. 27, 2012-- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, will host its fourth quarter and full-year financial results conference call as follows:   WHEN: Wednesday, February 15, 2012 ... 
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01/12/2012Penske Automotive Expands Presence in United Kingdom
Acquired Dealerships Expected to Contribute $500 Million in Annualized Revenue Continues to Enhance Brand Mix BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Jan. 12, 2012-- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that the Company has expanded its U.K. presence with the acquisition of the Isaac Agnew Group (www.agnewcars.com) of dealerships. The acquired dealerships are ... 
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