Penske Automotive Group, Inc. (PAG)

Penske Automotive Group announced the acquisition of four Toyota and Lexus dealerships in California and Texas on November 19, 2025, which is expected to add $1.5 billion in estimated annualized revenue. On October 29, 2025, PAG reported its third-quarter 2025 financial results, with revenue increasing 1.4% to $7.7 billion, but net income attributable to common stockholders decreased by 6%, and earnings per share decreased by 5%. Factors impacting performance included seasonality, the expiration of EV tax credits, and a cyberattack on Jaguar Land Rover stores in the UK. On October 15, 2025, Penske Automotive Group announced a $0.06 increase in its quarterly dividend and repurchased 1,086,560 shares of stock for $145 million year-to-date through October 24, 2025.

Penske Automotive Group experiences demand seasonality, with the third quarter typically impacted by the transition to a new model year. In Q3 2025, this seasonality was coupled with the expiration of EV tax credits in the U.S., which led to a higher penetration of Battery Electric Vehicle (BEV) sales and an average discount from MSRP on BEVs. The commercial truck segment also experiences fluctuations, with lower freight volumes sometimes causing customers to defer repairs and maintenance.

Penske Automotive Group, Inc. (PAG) is a diversified international transportation services company operating primarily in the automotive retail sector, with automotive and commercial truck dealerships worldwide. The company sells new and used vehicles, provides maintenance and repair services, and sells parts and accessories, as well as finance and insurance products. In the commercial truck segment, PAG operates heavy and medium-duty truck dealerships, offering brands like Freightliner and Western Star, and provides truck leasing, rental, and maintenance services. PAG also imports and distributes commercial vehicles, diesel and gas engines, and power systems, along with associated parts, principally in Australia and New Zealand. The company holds a 28.9% ownership stake in Penske Transportation Solutions.

Penske Automotive Group operates dealerships across four continents and nine countries, principally in the United States, the United Kingdom, Canada, Germany, Italy, Japan, and Australia. The company also has distribution and retail operations for commercial vehicles, diesel and gas engines, and power systems primarily in Australia and New Zealand.

Penske Automotive Group has a positive workplace reputation, with numerous stores recognized in Automotive News' "Best Places to Work For" list. However, the company's reputation was likely impacted by a cyber incident in Land Rover stores in the UK, which was mentioned as a pretax headwind in the Q3 2025 earnings report.

Penske Automotive Group, Inc. has a diverse ownership structure, including institutional, insider, and retail investors. Major institutional owners include BlackRock, Inc., Vanguard Group Inc, Victory Capital Management Inc, Dimensional Fund Advisors Lp, Burgundy Asset Management Ltd., LSV Asset Management, Aqr Capital Management Llc, State Street Corp and iShares Core S&P Mid-Cap ETF. Roger S. Penske (Chairman & CEO) is the largest individual shareholder, owning 98.44 million shares representing 149.47% of the company. Other major owners include Penske Corporation, Inc. and Mitsui & Co., Ltd.