Nov 01, 2021 / 08:30PM GMT
Brian C. Sponheimer - Gabelli Funds, LLC - Research Analyst
So Penske Automotive Group is our next company. We're very lucky to have Tony Pordon here with us, and we'll get into some Q&A in just a minute here.
But Penske Automotive Group, which is a Bloomfield Hills, Michigan-based diversified international transportation services company, that's a mouthful, but it really speaks to the amount of really great businesses this company has under its umbrella. It's the second-largest automotive retailer in the U.S. It's the largest luxury vehicle dealer in the U.K.; has over 25 stand-alone medium heavy-duty truck dealerships in the U.S. and Canada; is growing a significant used-only super store base in the U.S. and U.K.; has an engine distribution and repair business in Australia; and also, by the way, owns just under 29% of Penske Truck Leasing, which is a business that you'd find very few going as well as that is right now.
The company has about 80 million shares, actually fewer now; trades at approximately $105 in the book; $8.4 billion equity cap. There's about $1.2 billion of net
Penske Automotive Group Inc at Gabelli Automotive Aftermarket Symposium (Virtual) Transcript
Feb 11, 2024
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