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Penske Group’s Service And Parts Comps Rose 4.1% In Q3

The Penske Automotive Group (Bloomfield Hills, MI) saw its service and parts revenue climb $28.13 million, or 8.6 percent, to $354.62 million in the third quarter of 2011. This breaks down as a $14.80-million increase from dealership acquisitions and a $13.30-million, or 4.1 percent, increase in same-store revenue during the period. Service and parts gross profit increased $14.90 million, or 8 percent, from 2010 to 2011. This came from an $8.30-million increase from dealership acquisitions, coupled with a $6.60-million, or 3.5 percent, rise in same-store gross profit.

Penske operates 325 retail automotive franchises, representing 42 different brands, along with 28 collision repair centers. The company has 170 franchises in 17 states and Puerto Rico, as well as 155 franchises outside the United States, primarily in the United Kingdom.