Penske Automotive Q2 earnings fall on record revenue

Penske Automotive Group on Wednesday posted record second-quarter revenue of $7.5 billion, up 8.1 percent from the same period in 2022. Net income for the publicly held company fell 19.5 percent to $302.6 million in the same quarter, while net income attributable to common stockholders fell 19.6 percent to $300.8 million.