Automotive And Transportation

PENSKE AUTOMOTIVE GROUP EXPANDS PRESENCE IN INDIANAPOLIS

Acquires Hyundai and Genesis Manufacturers

BLOOMFIELD HILLS, Mich., May well 3, 2022 /PRNewswire/ — Penske Automotive Group, Inc. (NYSE: PAG), a diversified intercontinental transportation companies enterprise and one of the world’s leading automotive and business truck merchants, now announced that it has acquired Terry Lee Hyundai and Genesis of Noblesville, Indiana, expanding the Firm’s existence in the Indianapolis metropolitan sector. Terry Lee Hyundai was recognized by Automotive Information as a Greatest Dealership to Function for in 2020 and was named as a 2020 Major Function Spots by The Indianapolis Star. The acquisition is envisioned to make annualized earnings of $80 million.  

Commenting on the acquisition, Chair and CEO Roger Penske, mentioned, “We are delighted to insert the Hyundai and Genesis manufacturers to our existing Honda and Chevrolet footprint in the Indianapolis metropolitan industry, and welcome their personnel to our team.  We search to increase the solid legacy of these dealerships while developing extra scale in this essential marketplace for Penske Automotive Group.”   

The addition of the Hyundai and Genesis dealerships brings whole predicted obtained annualized earnings in 2022 to roughly $745 million.

About Penske Automotive

Penske Automotive Team, Inc., (NYSE: PAG) headquartered in Bloomfield Hills, Michigan, is a diversified worldwide transportation providers organization and a single of the world’s leading automotive and business truck retailers.  PAG operates dealerships principally in the United States, the United Kingdom, Germany, Italy, and Japan and is the largest retailer of industrial trucks in North America for Freightliner.  PAG also distributes and retails business cars, diesel and gasoline engines, energy methods and connected sections and solutions principally in Australia and New Zealand. Also, PAG owns 28.9% of Penske Transportation Solutions, a business that manages a fleet of around 373,000 automobiles supplying revolutionary transportation, provide chain and technological know-how methods to North American fleets.  PAG is a member of the Fortune 500, Russell 1000, and Russell 3000 indexes, and is rated among the the World’s Most Admired Providers by Fortune Magazine. For more facts, check out the company’s site at www.penskeautomotive.com.

Warning About Ahead Looking Statements

Statements in this push release may perhaps contain forward-seeking statements, like forward-hunting statements with regards to Penske Automotive Team, Inc.’s economical overall performance, acquisitions, and development programs. Genuine effects may well change materially because of threats and uncertainties that are difficult to predict. These pitfalls and uncertainties involve, amongst many others, the duration, severity, and resolution of the COVID-19 pandemic, government mandated constraints on our organization in gentle of COVID-19 or if not, economic and geo-political problems typically, situations in the credit markets, inflation, alterations in interest prices and overseas currency exchange prices, variations in tariff costs, alterations in the distribution design in our intercontinental operations via company or other implies, adverse situations affecting a specific producer, like the adverse affect to the car and sections provide chain thanks to constrained automobile availability owing to the COVID-19 pandemic, the war in the Ukraine, the lack of automotive semiconductor chips or other parts, pure disasters, recall or other disruptions that interrupt the provide of automobiles or parts to us, modifications in customer credit score availability, the end result of lawful and administrative issues, and other factors above which administration has minimal manage. These forward-on the lookout statements really should be evaluated jointly with added details about Penske Automotive Group’s organization, markets, conditions, and other uncertainties, which could influence Penske Automotive Group’s long run effectiveness. These risks and uncertainties are addressed in Penske Automotive Group’s Sort 10-K for the year ended December 31, 2021, and its other filings with the Securities and Exchange Commission (“SEC”). This press launch speaks only as of its date, and Penske Automotive Group disclaims any duty to update the data herein.

Inquiries need to speak to:



Shelley Hulgrave

Anthony Pordon

Govt Vice President and

Executive Vice President Trader Relations

Main Fiscal Officer

and Corporate Advancement

Penske Automotive Team, Inc.

Penske Automotive Team, Inc.

248-648-2812

248-648-2540

[email protected]

[email protected]

Source Penske Automotive Group, Inc.

PENSKE AUTOMOTIVE GROUP EXPANDS PRESENCE IN INDIANAPOLIS

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