Penske automotive group reports quarterly results

Retail automotive revenue increased 3% gross margin of 16.7% increased 40 basis points sequentially selling, general, & administrative expenses as a percentage of gross profit improved  sequentially by 30 basis points to 70.7% profitability impacted by lower equity earnings from pts and higher interest expense bloomfield hills, mich. , april 30, 2024 /prnewswire/ -- penske automotive group, inc. (nyse: pag), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, today announced quarterly results for the first quarter of 2024.
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