PENSKE AUTOMOTIVE GROUP EXPANDS PRESENCE IN INDIANAPOLIS

Acquires Hyundai and Genesis Brands

BLOOMFIELD HILLS, Mich., May perhaps 3, 2022 /PRNewswire/ — Penske Automotive Team, Inc. (NYSE: PAG), a diversified intercontinental transportation solutions organization and one particular of the world’s premier automotive and industrial truck merchants, these days introduced that it has obtained Terry Lee Hyundai and Genesis of Noblesville, Indiana, raising the Firm’s presence in the Indianapolis metropolitan marketplace. Terry Lee Hyundai was recognized by Automotive Information as a Greatest Dealership to Work for in 2020 and was named as a 2020 Leading Work Sites by The Indianapolis Star. The acquisition is predicted to deliver annualized income of $80 million.

Commenting on the acquisition, Chair and CEO Roger Penske, stated, “We are delighted to include the Hyundai and Genesis makes to our current Honda and Chevrolet footprint in the Indianapolis metropolitan market, and welcome their employees to our team. We appear to greatly enhance the robust legacy of these dealerships though making added scale in this essential market place for Penske Automotive Group.”

The addition of the Hyundai and Genesis dealerships delivers total predicted obtained annualized earnings in 2022 to around $745 million.

About Penske Automotive

Penske Automotive Group, Inc., (NYSE: PAG) headquartered in Bloomfield Hills, Michigan, is a diversified worldwide transportation products and services enterprise and one particular of the world’s premier automotive and industrial truck vendors. PAG operates dealerships principally in the United States, the United Kingdom, Germany, Italy, and Japan and is the biggest retailer of industrial trucks in North America for Freightliner. PAG also distributes and retails business cars, diesel and fuel engines, electric power techniques and related pieces and services principally in Australia and New Zealand. Furthermore, PAG owns 28.9% of Penske Transportation Remedies, a enterprise that manages a fleet of more than 373,000 cars furnishing progressive transportation, offer chain and engineering options to North American fleets. PAG is a member of the Fortune 500, Russell 1000, and Russell 3000 indexes, and is rated amid the World’s Most Admired Firms by Fortune Journal. For added info, go to the company’s internet site at www.penskeautomotive.com.

Tale proceeds

Warning Relating to Forward Searching Statements

Statements in this push release might include forward-seeking statements, which include ahead-searching statements pertaining to Penske Automotive Group, Inc.’s economical general performance, acquisitions, and advancement designs. Precise success may well fluctuate materially simply because of dangers and uncertainties that are complicated to predict. These risks and uncertainties include, among some others, the period, severity, and resolution of the COVID-19 pandemic, government mandated restrictions on our business in light of COVID-19 or otherwise, financial and geo-political situations usually, circumstances in the credit markets, inflation, alterations in interest costs and foreign currency exchange rates, changes in tariff premiums, improvements in the distribution model in our international functions through agency or other indicates, adverse disorders impacting a particular maker, together with the adverse affect to the auto and pieces provide chain owing to restricted vehicle availability owing to the COVID-19 pandemic, the war in the Ukraine, the lack of automotive semiconductor chips or other factors, normal disasters, remember or other disruptions that interrupt the source of vehicles or areas to us, adjustments in customer credit history availability, the end result of lawful and administrative issues, and other elements over which management has limited command. These ahead-searching statements should be evaluated with each other with further information and facts about Penske Automotive Group’s small business, marketplaces, disorders, and other uncertainties, which could have an effect on Penske Automotive Group’s long run functionality. These risks and uncertainties are resolved in Penske Automotive Group’s Type 10-K for the yr 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 Team disclaims any obligation to update the information and facts herein.

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Resource Penske Automotive Group, Inc.