Penske Automotive’s Earnings Decline as Brexit Pinches Car Demand
Penske Automotive Group (NYSE: PAG) has seen its diverse selling model tested in recent quarters, as new-car sales volumes drifted lower to overwhelm gains in the services segment and a booming commercial truck business. The auto retailer recently revealed continued strength in those growing division for the second quarter. However, these improvements were more than offset by struggles elsewhere in Penske's portfolio.
Here's how the headline results compare with the prior-year period:
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