July 2012

Penske Sees Q2 Double-Digit Growth in New & Used Retail Sales

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p>In looking back at the first half of this year, as well as the second quarter, specifically, Penske Automotive Group had double-digit revenue rises to report, along with significant growth in both new and used sales.

For the second quarter of this year, revenue increased 19.2 percent to $3.4 billion, and for the first half of 2012, revenue increased 18.6 billion to $6.6 billion.

The company noted the revenue surge for Q2 was driven by an increase in total retail unit sales of 20.9 percent.

Georgia & Illinois Dealership Groups Give Back to Communities

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p>This week, a couple of dealer groups announced new ways they are working to give back to the their communities.

First up, Atlanta-based Jim Ellis Automotive said it will be sponsoring the 2012 Jim Ellis Charity Golf Tournament on August 26, at the Chateau Elan Golf Club in Braselton, Ga.

The event will benefit various children's charities in the Atlanta area, officials shared.

Beggs: Wholesale Prices Up for One Truck Segment

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p>In reviewing last week’s activity in the wholesale lanes, Black Book’s Ricky Beggs noticed something that had not been spotted in two months.

Speaking about the 14 used-truck categories that Black Book monitors, Beggs noted that “the compact pickup trucks actually increased by $12. This is the first positive movement change in the past nine weeks (for any truck segment)."

Overall, the average change for the car segments was a downward adjustment of $51; for trucks, it was a decrease of $43.

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