Penske Automotive Group Inc. Sales Rise 10% Despite Weak Demand for New Automobiles -- The Motley Fool
Penske's sales volume slowed for the fourth consecutive quarter but higher sales prices on used vehicles and increased service and parts demand picked up that slack. That figure was composed of flat new car sales and a 3.1% uptick in the number of used cars sold. Same-store sales growth sped up to 8.8% thanks to several positive trends, including higher prices on new and used cars, increased services and parts sales, and 9.7% growth in Penske's financing and insurance arm. Gross profit per vehicle stopped at $3,127, or 7.5% of the sale price, for new vehicles and $1,574, or 5.8% of the sale price, for used cars. Management also highlighted the progress they made targeting the fragmented, but huge, used car market.McLaren Automotive Top 10 Headlines: Automaker Launching 18 New Cars And Going 100% Hybrid By 2025
referring to McLaren Automotive made big news during the Goodwood Festival of Speed this week. Beyond launching its latest "long tail" performance model, the 600LT, the high-tech exotic automaker released its latest Track25 long-term production plan, outlining McLaren's product activity and sales goals from 2018 to 2025. This future roadmap follows McLaren's Track22 plan that outlined production between 2015 and 2022. McLaren's recent sales growth in specific markets has been truly meteoric. But China, as is often the case these days, wins McLaren's sales growth race at 243 percent in 2018.collected by :Sofia Iden