Penske Automotive Q3 earnings dinged by higher taxes, Brexit

Penske, of Bloomfield Hills, Mich., ranks No. 2 on Automotive News' list of the top 150 dealership groups based in the U.S., with retail sales of 236,000 new vehicles in 2018.

October 29, 2019 11:00 AM

DETROIT -- Penske Automotive Group Inc. set a record for revenue in the third quarter, though its earnings were dragged down by an increased U.S. tax rate and lower U.K. profits amid a weakened vehicle market, largely related to Brexit.

Featured Stories

U.S. tariffs on imported vehicles are in effect, with parts duties following soon

What vehicle parts are now subjected to tariffs? Powertrain, suspension, safety and more

MSRP and dealers and finance, oh my! Why tariff price impacts may vary

Here’s our list of the 2025 Top 150 dealership groups

Latest News

Yukon cuts Elon Musk’s companies from rebates in response to U.S. tariffs

Toyota puts $7,900 premium on GR Supra final edition for $69,085 sticker price

Live updates on tariffs: Reactions and fallout as auto tariffs take effect

Stellantis laying off nearly 1,000 workers in U.S. as tariffs pause production at some plants in Canada, Mexico

Staying current is easy with newsletters delivered straight to your inbox.

See More in Retail

Bennett Automotive Group sells Provincial Chrysler in Windsor, Ont.

Ex-Toyota dealer wins $550,000 from N.H. city after spending millions on 18-year legal dispute

Amazon’s used-vehicle interest could threaten listings companies

Toyota dealerships change hands in Ontario, B.C.

Staying current is easy with newsletters delivered straight to your inbox.