Mercedes-Benz wants U.S. public dealership groups to enter China
It appears that Mercedes-Benz wants to take its expansion in China to another level as the German manufacturer wants U.S. public dealership groups to enter China. These words came from... Read more
Penske expands its business into Italy
Penske Automotive Group Italy is the latest joint venture to be created in Italy, marking the coming together of Penske Automotive Group and BMW-Mini dealer Andrea Mantellini and his... Read more
Penske posted a a 67% increase in its fourth-quarter net income
Penske Automotive Group has posted a 67% increase in its fourth-quarter net income, aided by an 11% increase in sales. In a statement, Penske said that it earned $47.7 million during the... Read more
Penske acquired the Isaac Agnew Group of dealerships in Northern Ireland
Penske Automotive Group Inc. has acquired the Isaac Agnew Group of dealerships in Northern Ireland, enabling the automotive retailer to expand its presence in the UK. The financial terms... Read more
Penske’s profit almost doubled in the third quarter of 2011
Penske Automotive Group reported a quarterly profit that has almost doubled. The dividend of the second largest dealership group in the U.S. was increased by 12.5%. In a statement, Penske... Read more
Penske board raised its cash dividend by a penny
Penske Automotive Group Inc. said that its board raised its cash dividend by a penny to 8 cents per share. The dividend is 14% higher than the 7-cent dividend that Penske paid out last... Read more
Penske posted a stronger-than-expected quarterly profit
Penske Automotive Group, a vehicle dealership group, recorded a quarterly profit stronger than what has forecasted while stronger profit margins and rising used-car sales offset a drop in... Read more
Penske completed acquisitions for Crevier BMW and Mini franchises
Penske Automotive Group Inc. has completed acquisitions for Crevier BMW and Mini, adding $275 million to the annual revenues of this publicly held retailer. These two franchises are... Read more
Penske posted a 67% jump in first-quarter profit
Penske Automotive Group Inc. posted a 67% jump in first-quarter profits and immediately, its shares rose to record levels in four years, closing up 12.3% at $23.06. An increase in new-... Read more
Tracey Matura appointed as general manager for Smart USA
Tracey Matura has been appointed by Mercedes-Benz USA to be the general manager for Smart USA effective May 1. In a statement, Mercedes said that Matura, who is 48, will handle... Read more
US auto dealership chains seeking to expand networks
As the U.S. auto market recovers, auto dealership chains are looking to expand their networks by acquiring new stores and paying pre-recession multiples on acquisitions. According to four... Read more
Penske Automotive looking for new acquisitions
Penske Automotive Group Inc. CEO Roger Penske recently told analysts that the company is being "opportunistic" about adding franchises but maintaining "strict financial discipline." The... Read more
Shell, Penske present cars for 2011 NASCAR Sprint Cup, IZOD IndyCar Series
Shell-Pennzoil and Penske Corporation have introduced the cars that will be participating in the 2011 NASCAR Sprint Cup Series and IZOD IndyCar Series. These two cars, which have... Read more
Penske launches new website with vehicle inventory and service appointments
Picking out a used vehicle has never been easier. Penske Automotive Group has launched a Web site that enables prospects to view vehicle inventory for all 174 of its franchises in one... Read more
Penske still is enthused about selling Smart vehicles despite poor results
In the year's first quarter, sales of Daimler AG's A-segment cars in the Smart product lineup were dismal but Roger Penske, chief of Penkse Automotive Group's Smart USA. Distributor LLC,... Read more
Saturn dealers waiting for Roger Penske to make its move
All Saturn dealers are holding their breath for the possible takeover of Roger Penske, an auto magnate who saved Detroit Diesel and is now seeking to take control of the cast-off General... Read more
Saturn will not sell the Smart brand, says Penske
As earlier reported, Roger Penske, the former racecar driver and owner of the second largest dealership in the US, has become the new owner of GM's Saturn brand. In an interview, Penske... Read more
Renault to supply Saturn-badged vehicles to Penske
Renault and Penske Automotive Group are working on a parts and car-sharing agreement. However, Nissan will not be working with rival Saturn; it's strictly Renault that will be entering... Read more
GM offering Saturn owners up to $2,000 in incentives to stay with the company
If you were a Saturn owner, would General Motors Co.'s offer of up to $2,000 in incentives to buy from its other brands interest you? This deal, which began on Feb. 2 and runs until March... Read more
GM to phase out Saturn after Penske dropped the deal
Saturn dealers throughout the US were saddened after Penske Automotive Group pulled out of negotiations to acquire Saturn, a segment of General Motors. Saturn's fate is gloomy as GM said... Read more
GM launching new marketing campaign to push out its remaining Saturn inventory
To push out the remaining Saturn inventory, General Motors Co. is launching a new marketing campaign and a set of incentives. GM hopes to be able to wind down the brand within three... Read more
GM expecting profit by 2011
Reports are saying that GM is aiming to get back to the path of profitability by 2011. However, analysts are saying that the company will lose about $17.5 billion before it can make a $3... Read more
GM agrees to sale Saturn brand to Penske
At last GM has agreed to sell its suffering Saturn brand to a consortium led by automotive industry legend Roger Penske. The deal, which will be announced later today, consists of Penske... Read more
Latest Auto Shows
