Penske Q3 Used Volume Grows While Sales Profits Declined

Used Car News

Penske Auto­mo­tive Group Inc. report­ed that its rev­enue increased to $4.4 bil­lion in the third quar­ter, dri­ven in large part by high­er used-car sales while gross prof­it on those sales declined. The aver­age trans­ac­tion price for used units increased by 8.2 per­cent to $27,299, while the aver­age gross prof­it per used unit declined by $69 to $1,800.

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