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2011 Press Releases

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12/21/2011Penske Automotive Enters into New £110 Million Credit Facility in the United Kingdom
Increases Size of Facility and Extends Maturity by Two Years to 2015 BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Dec. 21, 2011-- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that the Company’s subsidiaries in the U.K. have entered into a new credit facility with the Royal Bank of Scotland and BMW Financial Services, which includes a £100 million revolver and a £10 million demand overdraft line ... 
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11/02/2011CORRECTING and REPLACING Penske Automotive Increases Dividend
BLOOMFIELD HILLS, Mich., Nov 02, 2011 (BUSINESS WIRE) --The dividend is payable to shareholders of record on November 14, 2011 (sted November 10, 2011). The corrected release reads: PENSKE AUTOMOTIVE INCREASES DIVIDEND Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that its Board of Directors has approved a 12.5% increase in the Company's dividend to $0.09 per share. The dividend, which is payable on December 1,... 
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11/02/2011Penske Automotive Increases Dividend
BLOOMFIELD HILLS, Mich., Nov 02, 2011 (BUSINESS WIRE) --Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that its Board of Directors has approved a 12.5% increase in the Company's dividend to $0.09 per share. The dividend, which is payable on December 1, 2011, to shareholders of record on November 10, 2011, represents the second increase this year and restores it to the level paid by the Company prior to its susp... 
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11/02/2011Penske Automotive Reports Record Results
Total Revenue Increases 10.5% to $3.0 Billion Revenue for All Categories Increases Compared to Third Quarter Last Year Income From Continuing Operations of $56.7 Million, Related EPS of $0.62,Representing Increases of 63% SG&A to Gross Profit Improves by 70 Basis Points Acquires 1.8 Million Shares of Common Stock BLOOMFIELD HILLS, Mich., Nov 02, 2011 (BUSINESS WIRE) --Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today reported... 
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10/14/2011Penske Automotive Group To Host Third Quarter Earnings Conference Call
BLOOMFIELD HILLS, Mich., Oct 14, 2011 (BUSINESS WIRE) --Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, will host its third quarter financial results conference call as follows: WHEN: Wednesday, November 2, 2011 TIME: 2:00 p.m. Eastern Daylight Time PHONE: ... 
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07/26/2011Penske Automotive Increases Dividend
Declares $0.08 Per Share, an Increase of 14 Percent BLOOMFIELD HILLS, Mich., Jul 26, 2011 (BUSINESS WIRE) --Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that its Board of Directors has declared a cash dividend of $0.08 per share, representing an increase of 14% over the $0.07 dividend paid in the previous quarter. Commenting on the dividend, Chairman Roger Penske said, "We believe providing shareholders wi... 
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07/21/2011Penske Automotive Reports Second Quarter Results
Total Revenue Increases 10.5% to $2.9 Billion Total Same-Store Retail Revenue Increases 9.8% EPS from Continuing Operations Increases 27% to $0.43 Repurchased $87.3 Million in Convertible Debt BLOOMFIELD HILLS, Mich., Jul 21, 2011 (BUSINESS WIRE) --Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today reported 2011 second quarter income from continuing operations attributable to common shareholders of $39.9 million, or $0.43 per share... 
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07/18/2011Penske Automotive Acquires Mercedes-Benz of Greenwich
$150 Million in Estimated Annual Revenue BLOOMFIELD HILLS, Mich., Jul 18, 2011 (BUSINESS WIRE) --Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced the acquisition of Mercedes-Benz of Greenwich, located in Greenwich, Connecticut. This franchise complements the Company's existing operations in the Connecticut market, which include Audi, Mercedes-Benz and Porsche in Fairfield and Honda in Danbury. "I'm pleased to ... 
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07/12/2011Penske Automotive Acquires Crevier BMW and MINI
$275 Million in Estimated Annual Revenue BLOOMFIELD HILLS, Mich., Jul 12, 2011 (BUSINESS WIRE) --Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced the acquisition of the Crevier BMW and MINI franchises in Santa Ana, California. These franchises complement the Company's existing operations in this market. Crevier BMW and MINI are situated within the Santa Ana auto mall, which also includes the Company's Audi and... 
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07/06/2011Penske Automotive Group to Host Second Quarter Earnings Conference Call
BLOOMFIELD HILLS, Mich., Jul 06, 2011 (BUSINESS WIRE) --Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, will host its second quarter financial results conference call as follows: WHEN: Thursday, July 21, 2011 TIME: 2:00 p.m. Eastern Daylight Time ... 
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05/10/2011Penske Automotive Declares Quarterly Dividend
BLOOMFIELD HILLS, Mich., May 10, 2011 (BUSINESS WIRE) -- Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, today announced that its Board of Directors has declared a cash dividend of $0.07 per share payable on June 3, 2011, to shareholders of record on May 20, 2011. "The decision to declare the cash dividend exhibits the Board of Directors' confidence in the improved cash flow generation and financial position of the Company," said Penske Automotive Chairman Roger... 
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05/09/2011Penske Automotive Announces Appointment of New Chief Financial Officer
BLOOMFIELD HILLS, Mich., May 09, 2011 (BUSINESS WIRE) --Penske Automotive Group, Inc. (NYSE: PAG), an international automotive retailer, today announced that David K. Jones, the Company's Vice President and CFO of its European operations, has been named Executive Vice President and Chief Financial Officer, effective immediately. Mr. Jones replaces Robert O'Shaughnessy, who has resigned from his role as Executive Vice President and Chief Financial O... 
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04/28/2011Penske Automotive Reports First Quarter Results
Total Revenue Increases 15.3% to $2.9 Billion Income From Continuing Operations Increases 51.7% to $36.4 Million Earnings Per Share From Continuing Operations Increases 50% to $0.39 Per Share $87.3 Million of Convertible Notes Repurchased April 1, 2011 BLOOMFIELD HILLS, Mich., Apr 28, 2011 (BUSINESS WIRE) --Penske Automotive Group, Inc. (NYSE: PAG), an international automotive retailer, today reported a 51.7% increase in first quarter income from continuing ... 
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04/05/2011Penske Automotive Group to Host First Quarter Earnings Conference Call
BLOOMFIELD HILLS, Mich., Apr 05, 2011 (BUSINESS WIRE) --Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, will host its first quarter financial results conference call as follows: WHEN: Thursday, April 28, 2011 TIME: 2:00 p.m. Eastern Daylight Time ... 
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03/03/2011Penske Automotive Group Announces Put Option Notification for 3.5% Senior Subordinated Convertible Notes Due 2026
BLOOMFIELD HILLS, Mich., Mar 03, 2011 (BUSINESS WIRE) --Penske Automotive Group, Inc., (NYSE: PAG), an international automotive retailer, today announced that it is notifying holders of the $150,602,000 outstanding principal amount of its 3.5% Senior Subordinated Convertible Notes due 2026 (the "Notes") that pursuant to the terms of the Notes, they have an option to require the Company to purchase, on April 1, 2011, all or a portion of such holders... 
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02/16/2011Penske Automotive Reports Fourth Quarter Results
Same-Store Retail Revenues Increase 9.1% Adjusted Income From Continuing Operations Increases 52% to $29.5 Million Adjusted Earnings Per Share From Continuing Operations Increases 52% to $0.32 Per Share BLOOMFIELD HILLS, Mich., Feb 16, 2011 (BUSINESS WIRE) -- Penske Automotive Group, Inc. (NYSE: PAG), an international automotive retailer, today reported adjusted fourth quarter income from continuing operations attributable to common shareholders of $29.5 million, or $0.32 per share, which... 
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02/14/2011Mercedes-Benz USA Intends to Transition the Distribution of smart from Penske Automotive Group
BLOOMFIELD HILLS, Mich., Feb 14, 2011 (BUSINESS WIRE) --Mercedes-Benz USA LLC and Penske Automotive Group (NYSE:PAG) today announced they have started discussions to transition the distribution rights, management, sales and marketing activities of smart USA from Penske Automotive Group to Mercedes-Benz USA. The transition is expected to occur by the end of the second quarter of 2011. The proposed change marks a further step in implementing the future ... 
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01/26/2011smart USA Delivers First Retail Electric Drive Vehicle
Penske Automotive Group Chairman Roger Penske and smart USA President Jill Lajdziak deliver smart fortwo electric drive to Mindy Kimball of Silver Spring, MD WASHINGTON, Jan 26, 2011 (BUSINESS WIRE) -- smart USA Distributor LLC, a subsidiary of Penske Automotive Group, Inc. (NYSE: PAG), today delivered the first smart fortwo electric drive to a retail customer in the United States. Penske Automotive Group Chairman Roger Penske and smart USA President Jill Lajdziak made the ceremonial delivery... 
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01/25/2011Penske Automotive Group to Host Fourth Quarter and Full-Year Earnings Conference Call
BLOOMFIELD HILLS, Mich., Jan 25, 2011 (BUSINESS WIRE) -- 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 16, 2011 TIME: 2:00 p.m. Eastern Standard Time PHONE: United States, please call (800) 230-1074 International, please call (612) 234-9960 Note: Callers should dial in 5-10 minutes before the... 
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