Penske Automotive Group (NYSE: PAG) is an automotive retail company that operates franchised dealerships selling new and used vehicles alongside parts, service, and finance products. Revenue comes from vehicle sales, fixed operations (maintenance and repair), and the placement of third-party finance and insurance products at each dealership location. PAG is one of the largest global automotive retailers by revenue, generating $27.5 billion in total retail automotive dealership revenue in FY2025. The company operated 365 retail automotive franchised dealerships as of December 31, 2025, with 148 in the U.S. and 217 principally in the U.K. Premium brands, including Audi, BMW, Land Rover, Lexus, Mercedes-Benz, and Porsche, accounted for 71% of franchised dealership revenue in FY2025. PAG also ran 15 used vehicle dealerships under the CarShop (U.S.), Sytner Select (U.K.), and Penske Select (Australia) banners as of December 31, 2025. The company retailed and wholesaled more than 583,000 vehicles, including agency units, in FY2025.

Revenue model

Transactional revenue from new and used vehicle sales, plus higher-margin fixed operations revenue from maintenance and repair services, and fee income from the sale and placement of third-party finance and insurance products at each dealership.

Products and services

New vehicle sales across 40-plus brands; used vehicle sales under CarShop, Sytner Select, and Penske Select banners; vehicle maintenance and repair services; third-party finance and insurance product placement.

Customers and end markets

Retail consumers purchasing or servicing premium and volume passenger vehicles. Premium brands (Audi, BMW, Land Rover, Lexus, Mercedes-Benz, Porsche) represented 71% of franchised dealership revenue in FY2025; volume non-U.S. brands such as Toyota and Honda represented 23% in FY2025.

Value-chain role

Franchised automotive retailer and service provider sitting between vehicle manufacturers and end consumers; also originates finance and insurance products on behalf of third-party providers.

Geographic exposure

61% of total retail automotive dealership revenues generated in the U.S. and Puerto Rico in FY2025; 39% generated outside the U.S., principally in the U.K. (FY2025, per 10-K filed 2026-02-27).

Source: SEC 10-K, filed 2026-02-27

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