Ann C. Toledo

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Car Dealer Penske Automotive Accelerates Buybacks as Profits Soar

Tue May 10 , 2022
Penske Automotive Group Inc. is accelerating share buybacks after the car-dealership chain reported steeply higher profits as the industrywide vehicle shortage continues to bolster prices. Bloomfield Hills, Mich.-based Penske has repurchased 1.9 million shares this year through April 26, 1.2 million of them in the first quarter. That amount was […]