September 24, 2023

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Automotive rocks



Acquires Hyundai and Genesis Makes

BLOOMFIELD HILLS, Mich., May perhaps 3, 2022 /PRNewswire/ — Penske Automotive Team, Inc. (NYSE: PAG), a diversified global transportation expert services company and one particular of the world’s leading automotive and commercial truck stores, currently declared that it has acquired Terry Lee Hyundai and Genesis of Noblesville, Indiana, raising the Company’s presence in the Indianapolis metropolitan marketplace. Terry Lee Hyundai was regarded by Automotive Information as a Best Dealership to Work for in 2020 and was named as a 2020 Top Get the job done Locations by The Indianapolis Star. The acquisition is expected to produce annualized revenue of $80 million.

Commenting on the acquisition, Chair and CEO Roger Penske, explained, “We are happy to include the Hyundai and Genesis brands to our current Honda and Chevrolet footprint in the Indianapolis metropolitan sector, and welcome their staff to our workforce. We look to enhance the strong legacy of these dealerships though creating additional scale in this vital market for Penske Automotive Team.”

The addition of the Hyundai and Genesis dealerships brings complete envisioned acquired annualized profits in 2022 to close to $745 million.

About Penske Automotive

Penske Automotive Team, Inc., (NYSE: PAG) headquartered in Bloomfield Hills, Michigan, is a diversified worldwide transportation products and services enterprise and a single of the world’s leading automotive and commercial truck vendors. PAG operates dealerships principally in the United States, the United Kingdom, Germany, Italy, and Japan and is the most significant retailer of industrial vans in North The usa for Freightliner. PAG also distributes and retails industrial cars, diesel and gas engines, electric power units and linked pieces and services principally in Australia and New Zealand. Furthermore, PAG owns 28.9% of Penske Transportation Remedies, a small business that manages a fleet of around 373,000 autos providing ground breaking transportation, provide chain and engineering answers to North American fleets. PAG is a member of the Fortune 500, Russell 1000, and Russell 3000 indexes, and is ranked among the World’s Most Admired Companies by Fortune Magazine. For extra facts, take a look at the company’s website at

Caution Relating to Ahead Hunting Statements

Statements in this press launch could involve forward-seeking statements, which includes ahead-seeking statements about Penske Automotive Group, Inc.’s money functionality, acquisitions, and growth designs. Precise results may perhaps vary materially simply because of threats and uncertainties that are complicated to predict. These threats and uncertainties contain, among the many others, the length, severity, and resolution of the COVID-19 pandemic, govt mandated limitations on our business enterprise in light-weight of COVID-19 or usually, economic and geo-political conditions usually, circumstances in the credit marketplaces, inflation, variations in interest costs and overseas forex exchange fees, improvements in tariff costs, changes in the distribution model in our intercontinental operations by means of agency or other suggests, adverse circumstances impacting a individual company, which includes the adverse effects to the auto and parts source chain because of to minimal automobile availability owing to the COVID-19 pandemic, the war in the Ukraine, the shortage of automotive semiconductor chips or other elements, pure disasters, recall or other disruptions that interrupt the source of motor vehicles or pieces to us, adjustments in shopper credit score availability, the outcome of authorized and administrative matters, and other factors over which management has limited manage. These forward-seeking statements need to be evaluated together with further info about Penske Automotive Group’s business enterprise, markets, ailments, and other uncertainties, which could impact Penske Automotive Group’s potential functionality. These hazards and uncertainties are tackled in Penske Automotive Group’s Kind 10-K for the calendar year finished December 31, 2021, and its other filings with the Securities and Exchange Fee (“SEC”). This push release speaks only as of its day, and Penske Automotive Group disclaims any duty to update the information and facts herein.

Inquiries should speak to:

Shelley Hulgrave

Anthony Pordon

Govt Vice President and

Government Vice President Trader Relations

Main Money Officer

and Corporate Enhancement

Penske Automotive Group, Inc.

Penske Automotive Team, Inc.



[email protected]

[email protected]

Penske Automotive Group logo. (PRNewsFoto/Penske Automotive Group)

Penske Automotive Group logo. (PRNewsFoto/Penske Automotive Group)



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