Acquires Hyundai and Genesis Brand names

BLOOMFIELD HILLS, Mich., May well 3, 2022 /PRNewswire/ — Penske Automotive Team, Inc. (NYSE: PAG), a diversified intercontinental transportation providers business and a person of the world’s premier automotive and industrial truck vendors, currently introduced that it has obtained Terry Lee Hyundai and Genesis of Noblesville, Indiana, increasing the Company’s existence in the Indianapolis metropolitan current market. Terry Lee Hyundai was acknowledged by Automotive News as a Ideal Dealership to Function for in 2020 and was named as a 2020 Best Operate Spots by The Indianapolis Star. The acquisition is envisioned to generate annualized earnings of $80 million.

Commenting on the acquisition, Chair and CEO Roger Penske, stated, “We are happy to add the Hyundai and Genesis models to our present Honda and Chevrolet footprint in the Indianapolis metropolitan market, and welcome their workers to our crew. We search to greatly enhance the potent legacy of these dealerships while making further scale in this crucial marketplace for Penske Automotive Team.”

The addition of the Hyundai and Genesis dealerships delivers full expected obtained annualized earnings in 2022 to about $745 million.

About Penske Automotive

Penske Automotive Team, Inc., (NYSE: PAG) headquartered in Bloomfield Hills, Michigan, is a diversified intercontinental transportation companies enterprise and a person of the world’s premier automotive and professional truck suppliers. PAG operates dealerships principally in the United States, the United Kingdom, Germany, Italy, and Japan and is the greatest retailer of industrial trucks in North America for Freightliner. PAG also distributes and retails professional vehicles, diesel and gas engines, power methods and connected sections and providers principally in Australia and New Zealand. Moreover, PAG owns 28.9% of Penske Transportation Solutions, a enterprise that manages a fleet of more than 373,000 vehicles offering modern transportation, source chain and technological know-how options to North American fleets. PAG is a member of the Fortune 500, Russell 1000, and Russell 3000 indexes, and is ranked amid the World’s Most Admired Firms by Fortune Journal. For more facts, pay a visit to the company’s website at

Warning Regarding Forward Wanting Statements

Statements in this press launch may entail ahead-wanting statements, like ahead-wanting statements relating to Penske Automotive Team, Inc.’s financial effectiveness, acquisitions, and expansion ideas. Genuine benefits may perhaps vary materially simply because of threats and uncertainties that are difficult to forecast. These risks and uncertainties include, amid other individuals, the duration, severity, and resolution of the COVID-19 pandemic, authorities mandated restrictions on our company in gentle of COVID-19 or if not, financial and geo-political problems generally, conditions in the credit rating markets, inflation, improvements in fascination prices and overseas forex trade prices, alterations in tariff prices, modifications in the distribution design in our worldwide functions via company or other implies, adverse circumstances influencing a certain manufacturer, together with the adverse influence to the auto and sections provide chain thanks to restricted automobile availability thanks to the COVID-19 pandemic, the war in the Ukraine, the scarcity of automotive semiconductor chips or other elements, normal disasters, remember or other disruptions that interrupt the offer of vehicles or areas to us, adjustments in purchaser credit history availability, the end result of authorized and administrative issues, and other aspects in excess of which administration has minimal handle. These ahead-wanting statements should really be evaluated together with more information and facts about Penske Automotive Group’s enterprise, markets, ailments, and other uncertainties, which could have an impact on Penske Automotive Group’s long term general performance. These challenges and uncertainties are tackled in Penske Automotive Group’s Type 10-K for the 12 months finished December 31, 2021, and its other filings with the Securities and Trade Commission (“SEC”). This push release speaks only as of its date, and Penske Automotive Group disclaims any responsibility to update the facts herein.

Inquiries ought to get hold of:

Shelley Hulgrave

Anthony Pordon

Govt Vice President and

Executive Vice President Investor Relations

Main Monetary Officer

and Company Progress

Penske Automotive Group, Inc.

Penske Automotive Team, Inc.



[email protected]

[email protected]

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

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



Watch initial content to down load multimedia:

Resource Penske Automotive Team, Inc.