Welcome to the Penske News Page. Here you will be able to track new developments for the Penske Automotive Group.

Oct 10, 2012

The Penske Automotive Group announced yesterday they have purchased Savage BMW and MINI of Ontario. Savage BMW/MINI is ranked in the top 25 percent in unit volume for BMW dealerships in America. The dealership sits on six acres, has a 48,000 sq foot facility, including 49 service bays.

Although terms of the deal were not disclosed, Penske Auto Group has estimated that the addition of Savage BMW/Mini will contribute $125 million in annual revenue.
For the complete Business Wire click here.

May 17, 2011

The Penske Automotive Group (PAG) announced their first quarter earnings today.

Highlighting the quarter was a 11.8% increase in new car sales and an increase of 18.1% in used car sales.
Also, Penske purchased three delaerships throughout the quarter as well as repurchased some of their outstanding debt obligations. The debt obligation repurchases provides some much needed improvements to Penske’s balance sheet.

For a full report on the Penske’s first quarter. Click here.