| Profile |
According to the company’s website, Penske Automotive Group is the second largest publicly-traded automotive retailer in the United States as measured by total revenue. As of July 2, 2007, the company owned and operated 164 franchises in the United States and 145 franchises internationally, primarily in the United Kingdom. PAG offers a full range of 41 vehicle brands, with approximately 94% of its revenues (six months ended March 31, 2007) generated from the combined sales of foreign brands and luxury brands such as BMW, Honda, Lexus, Mercedes and Toyota. In addition to selling new and used vehicles, the company generates revenue at each of its dealerships through the sale of higher-margin products, such as finance, insurance and vehicle service contracts, maintenance repair services, replacement parts and aftermarket automotive products. |
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