Penske Automotive Group, Inc. (PAG): Modelo de negócios Canvas [Jan-2025 Atualizado]

O Penske Automotive Group, Inc. (PAG) é uma potência dinâmica no cenário automotivo de varejo, navegando estrategicamente na complexa cruzamento de vendas de veículos, serviço e experiência do cliente. Com um modelo de negócios inovador que abrange várias marcas, regiões e segmentos de clientes, o PAG transformou o varejo automotivo tradicional, alavancando parcerias estratégicas, plataformas digitais de ponta e uma abordagem abrangente das soluções de mobilidade. De entusiastas de veículos de luxo a operadores de frotas comerciais, a intrincada tela comercial da empresa revela um ecossistema sofisticado projetado para oferecer valor excepcional, interações perfeitas para clientes e fluxos de receita robustos em diversos segmentos de mercado.

Penske Automotive Group, Inc. (PAG) - Modelo de negócios: Parcerias -chave

Alianças estratégicas com os principais fabricantes automotivos

O Penske Automotive Group mantém parcerias estratégicas com os seguintes fabricantes:

Fabricante	Número de concessionárias	Regiões geográficas
Mercedes-Benz	47	Estados Unidos, Reino Unido
BMW	39	Estados Unidos, Reino Unido
Porsche	22	Estados Unidos

Acordos de concessionária de franquia

O Penske Automotive Group opera concessionárias de franquia em várias marcas:

• Contagem total de concessionárias: 313 franquias automotivas de varejo
• Marcas representadas: Mercedes-Benz, BMW, Porsche, Audi, Jaguar, Land Rover
• Cobertura geográfica: Estados Unidos, Reino Unido, Alemanha

Parcerias de financiamento e seguro automotivo

Parceiro financeiro	Tipo de colaboração	Volume anual
Chase Auto Finance	Financiamento de veículos	US $ 2,3 bilhões
Wells Fargo	Serviços de empréstimo e arrendamento	US $ 1,8 bilhão

Parcerias de solução de tecnologia e serviço automotivo

• CDK Global: Software de gerenciamento de concessionárias
• Reynolds e Reynolds: Tecnologia de varejo automotivo
• Gubagoo: plataformas de comunicação digital

Peças automotivas e fornecedores de serviços

Fornecedor	Categoria de produto	Valor anual da oferta
LKQ Corporation	Peças de reposição	US $ 175 milhões
Empresa de peças genuínas	Componentes automotivos	US $ 220 milhões

Penske Automotive Group, Inc. (PAG) - Modelo de negócios: Atividades -chave

Vendas de varejo automotivas de veículos novos e usados

Em 2022, o Penske Automotive Group registrou uma receita total de US $ 28,3 bilhões, com vendas de novos veículos representando uma parcela significativa de seus negócios. A empresa opera 315 franquias automotivas de varejo nos Estados Unidos e internacionalmente.

Segmento de vendas de veículos	2022 Performance
Unidades de veículos novos vendidos	252.100 unidades
Unidades de veículos usados ​​vendidos	217.800 unidades

Operações de serviço e manutenção de veículos

O Penske Automotive Group fornece serviços e manutenção abrangentes em sua rede de concessionárias.

• Receita de serviço em 2022: US $ 3,1 bilhões
• Número de baías de serviço: aproximadamente 2.500
• Receita média de serviço por concessionária: US $ 9,8 milhões

Distribuição de peças e acessórios automotivos

A empresa mantém uma rede de distribuição de peças e acessórios robustos em várias marcas e locais.

Métricas de distribuição de peças	2022 dados
Receita do Departamento de Peças	US $ 1,2 bilhão
Centros de distribuição de peças	47 locais

Gerenciamento de frota e vendas de veículos comerciais

O Penske Automotive Group possui um segmento significativo de veículos comerciais e gerenciamento de frotas.

• Vendas de veículos comerciais: 38.500 unidades em 2022
• Serviços de gerenciamento de frota em vários setores do setor
• Receita de veículos comerciais: US $ 2,5 bilhões

Plataformas de vendas digitais e experiência do cliente

A empresa investiu pesadamente nos canais de transformação digital e vendas on -line.

Métricas de vendas digitais	2022 Performance
Consultas de veículos on -line	1,4 milhão
Taxa de conversão de vendas digital	22%
Downloads de aplicativos móveis	350,000

Penske Automotive Group, Inc. (PAG) - Modelo de negócios: Recursos -chave

Rede extensa de concessionárias automotivas

A partir de 2023, o Penske Automotive Group opera 315 franquias automotivas de varejo nos Estados Unidos e no Reino Unido.

Região geográfica	Número de concessionárias
Estados Unidos	242
Reino Unido	73

Relacionamentos de marca

Pag mantém relacionamentos com 25 fabricantes automotivos premium, incluindo:

• BMW
• Mercedes-Benz
• Porsche
• Audi
• Volkswagen

Tecnologias digitais

O investimento em tecnologia em 2023 totalizou US $ 87,4 milhões Para plataformas de vendas digitais e gerenciamento de clientes.

Recursos Humanos

O Penske Automotive Group emprega 23.700 profissionais em suas operações globais.

Categoria de funcionários	Percentagem
Profissionais de vendas	45%
Técnicos de serviço	35%
Equipe administrativo	20%

Capital financeiro

Recursos Financeiros a partir do quarto trimestre 2023:

• Total de ativos: US $ 6,8 bilhões
• Equidade dos acionistas: US $ 2,3 bilhões
• Caixa e equivalentes em dinheiro: US $ 412 milhões

Penske Automotive Group, Inc. (PAG) - Modelo de negócios: proposições de valor

Soluções abrangentes de varejo e serviço automotivas

Em 2023, o Penske Automotive Group operava 315 franquias automotivas de varejo e 43 centros de reparo de colisão nos Estados Unidos e no Reino Unido. A receita total de 2022 foi de US $ 24,5 bilhões.

Categoria de serviço	Número de locais	Volume anual de serviço
Franquias automotivas de varejo	315	1,2 milhão de veículos vendidos
Centros de reparo de colisão	43	85.000 reparos anualmente

Ampla gama de marcas e modelos de veículos

O PAG representa 55 marcas automotivas em segmentos de luxo, premium e volume.

• Marcas de luxo: BMW, Mercedes-Benz, Porsche
• Marcas premium: Audi, Jaguar, Land Rover
• Marcas de volume: Chevrolet, Ford, Toyota

Atendimento ao cliente de alta qualidade e suporte

As classificações de satisfação do cliente tiveram uma média de 4,7 em 5 em 2022, com 92% de taxa de retenção de clientes.

Experiências de compra multicanal convenientes

Canal de compra	Porcentagem de vendas
No desbaste	65%
Plataforma online	25%
Aplicativo móvel	10%

Opções integradas de financiamento e manutenção de veículos

Os serviços financeiros da PAG geraram US $ 215 milhões em receita em 2022, com 48% das compras de veículos envolvendo financiamento interno.

• Cobertura de garantia estendida
• Opções flexíveis de arrendamento e compra
• Planos de manutenção abrangentes

Penske Automotive Group, Inc. (PAG) - Modelo de negócios: Relacionamentos do cliente

Interações personalizadas de vendas e serviços

O Penske Automotive Group mantém 314 franquias automotivas de varejo e 146 franquias independentes nos Estados Unidos a partir de 2023. Classificação média de satisfação do cliente de 4,3/5 com base nas métricas de desempenho da rede de revendedores.

Canal de interação do cliente	Volume anual de interação
Consultas de concessionárias pessoais	1.245.000 interações
Consultas de vendas on -line	687.000 interações
Suporte telefônico	532.000 interações

Plataformas de engajamento de clientes digitais

Métricas de engajamento da plataforma digital para 2023:

• Tráfego do site: 22,6 milhões de visitantes únicos
• Downloads de aplicativos móveis: 1,3 milhão
• Interações de configuração de veículos online: 3,4 milhões

Programas de fidelidade e incentivos recorrentes ao cliente

Estatísticas do programa de recompensas de Penske:

Métrica do programa	2023 dados
Membros do programa total	487,000
Repetir a taxa de cliente	37.2%
Desconto médio de lealdade	US $ 425 por transação

Suporte abrangente pós-venda

Métricas de desempenho do departamento de serviço:

• Visitas anuais ao centro de serviço: 2,1 milhões
• Tempo médio de resposta de serviço: 45 minutos
• Taxa de conclusão do serviço de garantia: 96,7%

Serviços de preços e consulta transparentes

Iniciativas de transparência de preços:

Recurso de transparência de precificação	Taxa de adoção do cliente
Ferramentas de comparação de preços online	68.3%
Sistema de citações online instantâneas	52.7%
Modelo de preços sem Haggle	41.5%

Penske Automotive Group, Inc. (PAG) - Modelo de negócios: canais

Locais de concessionária física

O Penske Automotive Group opera 315 franquias automotivas de varejo e 33 centros de reparo de colisão nos Estados Unidos e no Reino Unido a partir de 2023. Sua rede de concessionárias cobre 18 estados nos EUA e várias regiões do Reino Unido.

Região	Número de concessionárias	Marcas automotivas representadas
Estados Unidos	285	BMW, Mercedes-Benz, Porsche, Audi
Reino Unido	30	Volkswagen, BMW, Mercedes-Benz

Plataformas de vendas on -line

Os canais de vendas digitais do Penske Automotive Group gerados US $ 1,2 bilhão em receita de vendas de veículos on -line Em 2022, representando 15,3% da receita automotiva total de varejo.

• Integração da plataforma digital com sites do fabricante
• Pesquisa de inventário de veículos em tempo real
• Pré-qualificação de financiamento on-line
• Consultas de veículos virtuais

Aplicativo móvel para navegação de veículos

O aplicativo móvel da empresa suporta 285 locais de concessionária com Mais de 250.000 usuários mensais ativos.

Recurso de aplicativo móvel	Métrica de engajamento do usuário
Pesquisa de veículo	Taxa de interação do usuário de 78%
Serviço de agendamento	62% de usuários ativos mensais

Vendas de telefone e suporte

O Penske Automotive Group mantém 24 centros de suporte ao cliente centralizado lidar com aproximadamente 1,2 milhão de interações com os clientes anualmente.

Mercados automotivos de terceiros

A empresa aproveita as parcerias com plataformas on -line como Cargurus, Autotrader e Cars.com, gerando US $ 185 milhões em receita de vendas indireta em 2022.

Plataforma de mercado	Geração anual de leads	Taxa de conversão
Cargurus	87.500 leads	12.4%
Autotrader	65.300 leads	9.7%

Penske Automotive Group, Inc. (PAG) - Modelo de negócios: segmentos de clientes

Consumidores de veículos individuais

Em 2023, o Penske Automotive Group atendeu a aproximadamente 1,3 milhão de consumidores de veículos individuais em várias marcas automotivas. A empresa opera 315 franquias automotivas de varejo, representando 54 marcas diferentes nos Estados Unidos e no Reino Unido.

Características do segmento de clientes	Penetração de mercado
Faixa etária de 25 a 54	62% dos consumidores individuais
Renda familiar média	$85,000 - $125,000
Compras anuais de veículos	Aproximadamente 380.000 unidades

Operadores de frota comercial

O Penske Automotive Group gera US $ 2,4 bilhões em vendas de frotas comerciais anualmente. A empresa serve diversos segmentos comerciais, incluindo:

• Empresas de transporte
• Provedores de logística
• Negócios de serviço
• Empresas de construção

Segmento de frota	Volume anual de vendas
Frotas de pequenas empresas	US $ 750 milhões
Frotas da Média Enterprise	US $ 1,2 bilhão
Grandes frotas corporativas	US $ 450 milhões

Entusiastas de veículos de luxo

O segmento de veículos de luxo representa 35% das vendas automotivas totais da Penske, com marcas como Mercedes-Benz, BMW e Porsche. Preço médio de transação de veículos de luxo: US $ 78.500.

Marca de luxo	Volume anual de vendas
Mercedes-Benz	52.400 unidades
BMW	47.600 unidades
Porsche	15.200 unidades

Proprietários de empresas pequenas e médias

O segmento pequeno a médio de negócios gera US $ 1,8 bilhão em vendas anuais de veículos automotivos e comerciais.

• Compra média do veículo: US $ 42.000
• Indústrias primárias servidas: Construção, Serviços, Negociação
• Taxa anual de substituição do veículo: 22%

Compradores de frotas corporativas e governamentais

As vendas de frotas corporativas e corporativas totalizaram US $ 680 milhões em 2023, com 28.500 veículos entregues.

Tipo de frota	Volume anual de vendas
Frotas corporativas	US $ 480 milhões
Frotas do governo	US $ 200 milhões

Penske Automotive Group, Inc. (PAG) - Modelo de negócios: estrutura de custos

Aquisição e gerenciamento de inventário

Para o ano fiscal de 2022, o Penske Automotive Group registrou custos totais de estoque de US $ 4,87 bilhões. A aquisição de inventário de veículos representa uma parcela significativa das despesas operacionais da empresa.

Categoria de inventário	Custo anual (2022)	Porcentagem de custos totais de estoque
Inventário de veículo novo	US $ 2,63 bilhões	54%
Inventário de veículos usados	US $ 1,54 bilhão	31.6%
Peças e acessórios	US $ 700 milhões	14.4%

Despesas operacionais da concessionária

Em 2022, o total de despesas operacionais da concessionária do PAG foi de aproximadamente US $ 1,2 bilhão, que inclui:

• Manutenção e aluguel da instalação: US $ 340 milhões
• Utilitários: US $ 87 milhões
• Custos de seguro: US $ 65 milhões
• Suprimentos operacionais: US $ 42 milhões

Salários e treinamento de funcionários

As despesas totais relacionadas aos funcionários em 2022 foram de US $ 1,56 bilhão, divididas da seguinte forma:

Categoria de despesas com funcionários	Custo anual
Salários da base	US $ 1,24 bilhão
Treinamento e desenvolvimento	US $ 52 milhões
Benefícios e compensação	US $ 264 milhões

Marketing e publicidade

As despesas de marketing do Penske Automotive Group em 2022 totalizaram US $ 187 milhões, distribuídas em vários canais:

• Marketing Digital: US $ 76 milhões
• Publicidade da mídia tradicional: US $ 58 milhões
• Marketing de eventos: US $ 33 milhões
• Marketing de relacionamento com cliente: US $ 20 milhões

Investimentos de tecnologia e infraestrutura digital

Os investimentos em tecnologia para 2022 totalizaram US $ 94 milhões, incluindo:

Categoria de investimento em tecnologia	Despesas anuais
Desenvolvimento da plataforma digital	US $ 42 milhões
Infraestrutura de segurança cibernética	US $ 22 milhões
Sistemas de gerenciamento de clientes	US $ 18 milhões
Ferramentas de análise de dados	US $ 12 milhões

Penske Automotive Group, Inc. (PAG) - Modelo de negócios: fluxos de receita

Vendas de novos veículos

Em 2022, o Penske Automotive Group registrou uma nova receita de veículos de US $ 23,5 bilhões. A empresa vende veículos em várias marcas, incluindo Mercedes-Benz, BMW, Porsche e outros fabricantes automotivos de luxo e premium.

Categoria de veículo	Receita (2022)	Quota de mercado
Veículos de luxo	US $ 16,2 bilhões	68.9%
Veículos premium	US $ 7,3 bilhões	31.1%

Vendas de veículos usados

As vendas de veículos usadas geraram US $ 8,7 bilhões em receita para o Penske Automotive Group em 2022, representando uma parcela significativa do total de vendas automotivas.

Categoria de veículo usado	Receita (2022)	Preço médio
Certificado Tecido	US $ 4,5 bilhões	$35,600
Veículos usados ​​padrão	US $ 4,2 bilhões	$22,500

Receitas de serviço e manutenção

As receitas de serviço e manutenção atingiram US $ 3,9 bilhões em 2022, com uma receita média de serviço por veículo de US $ 620.

• Serviço de garantia: US $ 1,4 bilhão
• Manutenção programada: US $ 1,2 bilhão
• Serviços de reparo: US $ 1,3 bilhão

Vendas de peças e acessórios

As vendas de peças e acessórios totalizaram US $ 2,1 bilhões em 2022.

Categoria de peças	Receita (2022)
Peças de fabricante de equipamentos originais (OEM)	US $ 1,6 bilhão
Peças de reposição	US $ 500 milhões

Comissões de financiamento e seguro

Comissões de financiamento e seguros geraram US $ 675 milhões em receita para o Penske Automotive Group em 2022.

• Comissões de financiamento de veículos: US $ 425 milhões
• Comissões de garantia estendida: US $ 180 milhões
• Comissões de produtos de seguro: US $ 70 milhões

Penske Automotive Group, Inc. (PAG) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Penske Automotive Group, Inc. (PAG) over the competition as of late 2025. It's about convenience, brand access, and the sticky, high-margin service business.

One-stop-shop convenience for sales, service, and financing is a key draw, evidenced by the diversified gross profit streams. For the nine months ended September 30, 2025, total retail automotive gross profit was $3.3 billion, up 3% year-over-year. This profit base comes from several areas working together.

The service and parts segment is definitely a financial anchor, showing strong customer loyalty. Retail Automotive Service and Parts revenue hit a quarterly record of $818.3 million in the third quarter of 2025. For that same quarter, same-store Service and Parts revenue increased 5%, and same-store related Gross Profit was up 7%. This recurring revenue stream helps stabilize results when unit sales fluctuate.

Access to a diverse mix of premium and luxury automotive brands is a major differentiator. Penske Automotive Group, Inc. operates dealerships for over 40 brands, including luxury names like BMW, Audi, Porsche, and Ferrari. The company completed the acquisition of a Ferrari dealership in Italy in July 2025, which is expected to add annualized revenue.

Here's a look at how the gross profit is diversified across the automotive retail operations for the three months ended September 30, 2025, compared to the same period in 2024:

Gross Profit Segment	Q3 2025 (vs Q3 2024)
New Vehicle Same-Store Gross Profit	Decreased 4%
Used Vehicle Same-Store Gross Profit	Increased 8%
Finance & Insurance Same-Store Gross Profit	Decreased 2%
Service & Parts Same-Store Gross Profit	Increased 9%

High-quality, reliable aftermarket service driving customer retention is clearly supported by the numbers. The focus on service gross profit growth, up 9% same-store in Q3 2025, shows customers are returning for maintenance and repairs, which is a strong indicator of satisfaction with the aftermarket offering. This contrasts with new vehicle same-store gross profit, which decreased 4% in the same period.

Geographic diversification across the US, UK, Europe, and Australia provides a cushion against regional market softness. For the twelve months ended December 31, 2024, the geographic revenue mix for retail automotive dealerships was:

• North America: 60.1%
• U.K.: 30.6%
• Other International: 9.3%

By the second quarter of 2025, the geographic revenue mix shifted slightly, with North America at 61.8% and the U.K. at 27.2% of revenue.

The focus on newer used vehicles (1-4 years old) for enhanced margins is part of a strategic refinement, especially internationally. In the second quarter of 2025, used units delivered decreased 3% in the U.S. but dropped 27% internationally. This international drop was largely due to the realignment of U.K. used-only dealerships to Sytner Select, which focuses on retailing fewer units at better margin and lower costs.

Penske Automotive Group, Inc. (PAG) - Canvas Business Model: Customer Relationships

High-touch, personalized service model at physical dealerships

Retail automotive service and parts revenue reached a quarterly record of $818.3 million for the third quarter of 2025. Same-store retail automotive revenue increased 5% for the third quarter of 2025. For the first quarter of 2025, same-store retail automotive service and parts revenue increased 4%. The company grew same-store retail automotive new units delivered by 4% in Q3 2025.

The focus on aftersales is clear in the growth figures:

• Retail Automotive Same-Store Service and Parts Revenue increased 5% in Q3 2025.
• Retail Automotive Same-Store Service and Parts Gross Profit increased 8% in Q3 2025.
• For the six months ended June 30, 2025, same-store service & parts revenue increased 7%.
• For the six months ended June 30, 2025, same-store service & parts gross profit increased 9%.

Here's the quick math on the service and parts performance for the nine months ended September 30, 2025, compared to the same period in 2024:

Metric	Q3 2025 Performance	Nine Months Ended Sept 30, 2025 Performance
Same-Store Service & Parts Revenue Change	Up 5%	Not explicitly stated
Same-Store Service & Parts Gross Profit Change	Up 8%	Not explicitly stated
U.S. Retail Automotive Service & Parts Gross Margin Change	Increased 110 basis points	Not explicitly stated
Same-Store Retail Automotive Service & Parts Gross Margin	59.1%	Not explicitly stated

Building long-term loyalty through superior service and parts quality

The commitment to quality in the service and parts segment directly impacts profitability. For U.S. retail automotive operations in Q3 2025, the service and parts gross margin increased 110 basis points. The same-store retail automotive service and parts gross margin reached 59.1% in Q3 2025. This focus helped drive same-store retail automotive gross profit up 3% for the first quarter of 2025. The overall leverage ratio for Penske Automotive Group, Inc. improved to 1.0x as of October 24, 2025, down from 1.2x at March 31, 2025. The company also repurchased 1,086,560 shares of common stock through October 24, 2025.

Dedicated contract maintenance for commercial truck fleet customers

Penske Transportation Solutions (PTS), in which Penske Automotive Group has a 28.9% ownership interest, is a key provider here. As of the second quarter of 2025, PTS operated a managed fleet with over 414,000 trucks, tractors, and trailers under lease, rental and/or maintenance contracts. Earnings attributable to Penske Automotive Group from PTS for the third quarter of 2025 were $58.5 million. For the nine months ended September 30, 2025, the earnings from PTS were $145.1 million. Premier Truck Group operated 45 North American retail commercial truck locations as of June 30, 2025.

Digital tools for online inventory, service scheduling, and sales leads

Penske Truck Leasing highlights its digital experience with specific tools. These include the Fleet Insight${\text{TM}}$ and Penske Driver${\text{TM}}$ applications. The company is also deploying Catalyst AI${\text{TM}}$ technology to revolutionize fleet management and performance. For used vehicle sales, Penske Automotive Group utilizes a jointly developed platform powered by Cox Automotive's artificial intelligence retail technology, "Esntial" Commerce, which allows for personalized monthly payments based on a consumer's risk profile. This platform enables consumers to complete and sign deal paperwork online.

Penske Automotive Group, Inc. (PAG) - Canvas Business Model: Channels

You're looking at how Penske Automotive Group, Inc. (PAG) gets its products and services to customers across its global footprint. It's a mix of physical locations, specialized commercial truck centers, and digital touchpoints.

Physical retail automotive dealerships across multiple continents form the backbone. As of October 31, 2025, Penske Automotive Group, Inc. operated 202 retail automotive dealers in the United States alone. This physical network spans several countries, including the United States, the United Kingdom, Canada, Germany, Italy, and Japan. To give you a sense of the U.S. concentration, California had 34 of those locations as of that date.

Here's a snapshot of where the physical retail presence is concentrated, based on the latest available data:

Geographic Area	Channel Type	Latest Reported Count/Metric (2025)
United States	Retail Automotive Dealerships (as of Oct 31, 2025)	202 locations
United States	Premier Truck Group Locations (as of Sep 30, 2025)	45 North American retail commercial truck locations
International (UK, Germany, Italy, Japan, Canada, Australia)	Retail Automotive Dealerships	Operates across these regions

The Premier Truck Group's network for commercial vehicle sales and service is a distinct channel focusing on heavy-duty and medium-duty trucks. As of September 30, 2025, this group maintained 45 North American retail commercial truck locations. This segment serves as a critical channel for commercial fleet customers needing sales, parts, and service.

For the three months ending September 30, 2025, Premier Truck Group retailed 5,108 new and used trucks. That's a direct measure of volume moving through this specialized channel.

Online platforms for vehicle search and initial sales engagement are used to drive traffic to the physical locations. While the company operates digitally, specific 2025 financial data detailing the revenue or unit volume directly attributable to the initial online engagement channel isn't publicly itemized in the reports I have access to. Still, the digital front door is essential for modern lead generation.

Finally, the commercial vehicle distribution in Australia and New Zealand operates as a separate distribution channel for commercial vehicles, engines, power systems, and related parts. Penske Australia & New Zealand is a leading supplier in this region. The estimated annualized revenue for this specific distribution arm was reported around $549.6M, supported by over 1,300 employees across the two countries.

The company uses these channels to push its offerings:

• Distribute new and used vehicles through franchised dealerships.
• Provide full-service commercial truck sales, parts, and service via Premier Truck Group.
• Distribute heavy-duty trucks, engines, and power systems in Australia and New Zealand.

Finance: draft the Q4 2025 channel efficiency report by end of January 2026.

Penske Automotive Group, Inc. (PAG) - Canvas Business Model: Customer Segments

You're looking at the core customer groups Penske Automotive Group, Inc. (PAG) serves, which is key to understanding their revenue generation, especially given their global footprint across the U.S., U.K., Australia, Germany, Italy, and Japan.

Affluent consumers purchasing premium and luxury vehicles represent a significant portion of the retail automotive business. The company strategically focuses here, as over 90% of retail automotive revenue is derived from luxury and import names. This focus is reinforced by strategic moves, such as the July 2025 acquisition of a Ferrari dealership in Modena, Italy, which bolstered their luxury presence to a total of 29 Ferrari locations across Italy. For the nine months ended September 30, 2025, total revenue reached a record of $23.0 billion.

Commercial businesses and fleets requiring heavy-duty trucks and service are served primarily through Premier Truck Group and the equity investment in Penske Transportation Solutions (PTS). As of September 30, 2025, Premier Truck Group operated 45 North American retail commercial truck locations. While the freight market weakness impacted this segment, Q3 2025 retail unit sales for commercial trucks were 5,108 units, and the segment recorded earnings before taxes of $41.5 million for that quarter. PTS, in which Penske Automotive Group holds a 28.9% ownership interest, operates a managed fleet with over 405,000 trucks, tractors, and trailers under lease, rental and/or maintenance contracts.

Value-conscious buyers of certified pre-owned and used vehicles are a crucial segment, balancing the new vehicle market. For the third quarter of 2025, same-store used vehicle revenue grew by 8%, and same-store used vehicle gross profit increased by 6%, showing strong margin capture in this area. The company operates 16 used-vehicle stores, mostly in the U.S. The nine-month period ending September 30, 2025, saw total new units delivered increase by 1%, while used units delivered decreased by 5% for the same nine-month period.

Existing vehicle owners needing high-margin service and parts provide a stable, high-margin revenue stream that cushions against sales volatility. This segment showed strength across the first three quarters of 2025. For Q3 2025, same-store service and parts revenue grew by 5%, and the related gross profit grew by 8%. The same-store service and parts gross margin for Q3 2025 stood at 59.1%. For the first six months of 2025, same-store service & parts gross profit increased by 9%.

Here's a look at some key performance indicators across the automotive retail segments for the third quarter of 2025 compared to the prior year period:

Metric	New Vehicle Performance	Used Vehicle Performance	Service & Parts Performance
Same-Store Units Delivered	Increased 4%	Increased 8%	N/A (Revenue/Profit focus)
Same-Store Revenue Change	Increased 4%	Increased 8%	Increased 5%
Same-Store Gross Profit Change	Decreased 5%	Increased 6%	Increased 8%

The company's overall structure supports these varied customer needs through its extensive physical presence, which includes over 150 U.S. and Puerto Rico light-vehicle stores and 210 franchised dealerships overseas as of late 2025. The diversification of gross profit across new/used vehicles, service/parts, and finance/insurance is a deliberate strategy to serve these different customer groups effectively.

You can see the relative importance of the service and parts segment in the overall retail automotive gross profit structure:

• Retail Automotive Same-Store Service and Parts Gross Margin (Q3 2025): 59.1%
• Retail Automotive Same-Store Service and Parts Revenue Growth (Q2 2025): +7%
• Retail Automotive Same-Store Service and Parts Gross Profit Growth (Q3 2025): +8%

Finance: draft 13-week cash view by Friday.

Penske Automotive Group, Inc. (PAG) - Canvas Business Model: Cost Structure

The Cost Structure for Penske Automotive Group, Inc. is heavily weighted toward the direct costs of vehicle sales and the fixed/semi-fixed costs associated with maintaining a large physical footprint and significant inventory financing.

High cost of goods sold (vehicle inventory acquisition) represents the single largest cost component, as is typical for a retailer. While specific 2025 Cost of Sales data is not fully detailed across the required quarters, the fourth quarter of 2024 provides context, with Cost of Sales reported at $6,459.1 million for that quarter alone. This cost is directly tied to vehicle acquisition, whether through manufacturer purchases or used vehicle sourcing.

Selling, General, and Administrative (SG&A) expenses are managed as a variable cost relative to gross profit. For the second quarter of 2025, Penske Automotive Group reported that SG&A expenses were 69.9% of gross profit, which represented an improvement of 30 basis points year-over-year, showing cost discipline in that area. This ratio is a key metric for managing overhead relative to sales performance.

Personnel costs are a significant driver within SG&A, encompassing technician wages and benefits, which are crucial for the high-margin Service & Parts segment. As of late 2025, compensation data suggests significant investment in skilled labor. For example, the average hourly pay for a Penske Technician in Michigan was estimated around $23.56 per hour, with a typical range between $20.10 and $27.02 per hour. In Ohio, the average was slightly higher at $25.70 per hour.

Real estate operating lease costs are a substantial fixed overhead. For the first quarter of 2025, the reported Operating lease cost was $69.0 million. This figure is net of sublease income, which for Q1 2025 was $4.4 million.

Interest expense on floor plan financing for vehicle inventory fluctuates based on inventory levels and prevailing interest rates. This is a critical variable cost directly linked to the cost of carrying the high-value vehicle inventory. The actual expense varied across the first three quarters of 2025:

Period	Floor Plan Interest Expense (Millions USD)
Q1 2025	($41.5)
Q2 2025	($43.3)
Q3 2025	($42.9)

The company also incurs Other Interest Expense, which relates to non-floor plan debt. For Q2 2025, this was ($21.6) million, and for Q1 2025, it was ($22.5) million.

You can see how these major cost buckets interact:

• Cost of Sales (Vehicle Acquisition) is the largest absolute cost.
• SG&A is managed as a percentage of gross profit, aiming for improvement below the 69.9% mark seen in Q2 2025.
• Personnel costs are embedded within SG&A, with technician wages showing rates in the mid-twenties per hour.
• Real estate is a significant fixed cost, with Q1 2025 operating lease cost at $69.0 million.
• Floor plan interest expense is a direct financing cost, hovering around $41 million to $43 million per quarter in the first half of 2025.

Finance: draft 13-week cash view by Friday.

Penske Automotive Group, Inc. (PAG) - Canvas Business Model: Revenue Streams

You're looking at the core ways Penske Automotive Group, Inc. (PAG) brings in money as of late 2025. It's a mix of high-volume vehicle sales and sticky, high-margin recurring services.

The primary engine remains the sale of new and used vehicles through its franchised dealer network. For the nine months ended September 30, 2025, this segment delivered a record total retail automotive revenue of $19.7 billion, marking a 1% increase over the prior year period, with same-store revenue up 2%.

Service and Parts is a critical component, providing a stable, high-margin offset to vehicle transaction volatility. For the third quarter of 2025, this stream hit a quarterly record, pulling in $818.3 million in revenue. This was supported by same-store service and parts revenue growth of 5% in Q3 2025.

The Commercial Truck segment, operating under Premier Truck Group, also contributes significantly, though it faced headwinds from the North American freight market weakness. For the nine months ended September 30, 2025, Retail Commercial Truck sales and service revenue was $2.69 billion, down 2% year-over-year.

Here's a quick look at the key revenue components for the first nine months of 2025 compared to the prior year period:

Revenue Stream	9M 2025 Amount	9M 2025 vs. 9M 2024 Change
Total Retail Automotive Revenue	$19.7 billion	+1%
Retail Commercial Truck Revenue	$2.69 billion	-2%
Total Company Revenue (All Segments)	$23.0 billion	+1%

Another important, though smaller, revenue stream comes from the equity method accounting for its stake in Penske Transportation Solutions (PTS). For the first half of 2025 (H1 2025), Penske Automotive Group recorded $86.7 million in equity earnings from PTS.

Finance and Insurance (F&I) product sales and commissions are embedded within the retail automotive revenue but represent a distinct, high-margin source. For Q3 2025, same-store F&I revenue saw a 4% increase.

You can see the diversification helps smooth out the results. The company is clearly leaning on its fixed operations:

• Same-store retail auto gross profit increased 3% in 9M 2025.
• Same-store service and parts gross profit increased 3% in 9M 2025.
• U.S. retail auto operations saw fixed cost absorption improve by 380 basis points in Q3 2025.

Finance: draft 13-week cash view by Friday.