Penske buys 2 North Carolina luxurious dealerships

Negative agents have been concerned within the offer, a Penske spokesman stated.

Baker Motor Co., owned by way of Tommy Baker, is based totally in Charleston, S.C., and based in 1988. The gang’s web site lists alternative shops in North Carolina and South Carolina promoting Mercedes, Porsche, Infiniti, Maserati, Alfa Romeo, Jaguar, Land Rover, Buick, GMC and Cadillac cars.

Penske on July 26 posted a 19.5 p.c year-over-year lessen in second-quarter web source of revenue to $302.6 million, hour web source of revenue resulting from familiar stockholders fell 19.6 p.c to $300.8 million. The corporate, alternatively, posted report second-quarter income of $7.5 billion, up 8.1 p.c from the similar duration in 2022. Top rate manufacturers represented 71 p.c of Penske’s retail car gross sales within the quarter, with BMW and Miniature accounting for 25 p.c of the overall.