Penske’s used sales & profit drop as appropriate inventory gets harder to find
2014 photo of Roger Penske at a NASCAR event. Editorial credit: action sports / Shutterstock.com
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Friday, Oct. 28, 2022, 02:40 PM
Alysha Webb, Correspondent
Penske Automotive Group had a rough third quarter where used vehicles were concerned, with sales falling 7.0% to 65,523 units compared to the same quarter in 2021. Used-vehicle revenue fell 4.1% and gross profit was down 32% to $131.3 million. On the earnings call, chairman and CEO Roger Penske dissected the environment. On the premium […]