/PRNewswire/ Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company, today announced that Michelle (Shelley).
We think there s pressure on some of the key models, Penske told analysts after the retailer reported first-quarter earnings.
Many public retailer executives said supply problems were worse for domestic brand vehicles and that having diversified dealership networks had helped them weather the crisis so far.
Penske Automotive, for instance, heavily sells luxury and import brand vehicles, with just 1 percent of global dealership revenue tied to domestic brands. Inventory was in decent shape for many key brands such as Mercedes-Benz, BMW, Audi and Porsche, Roger Penske said last week. If things get tighter through Q2, we could then have more impact in Q3, he said. So I think the diversification that we have in our overall business will certainly help us from the standpoint of still generating a solid bottom line.
/PRNewswire/ Penske Automotive Group, Inc. (NYSE:PAG), a diversified international transportation services company, today reported the highest first quarter.