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PENSKE Automotive FOR IMMEDIATE RELEASE ● BLOOMFIELD HILLS , MI , October 27 , 2021 - Penske Automotive Group , Inc. ( NYSE : PAG ) , a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers , today announced record third quarter and nine months 2021 results , including the best quarterly results in company history . For the three months ended September 30 , 2021 , the company reported a 43.9 % increase in income from continuing operations attributable to common shareholders to $ 354.8 million and a 45.3 % increase in related earnings per share to $ 4.46 . This compares to income from continuing operations attributable to common shareholders of $ 246.5 million , or $ 3.07 per share , in the prior year . Foreign exchange positively impacted earnings per share by $ 0.06 . Third Quarter 2021 Operational Highlights versus Third Quarter 2020 ● Press Release Penske Automotive Group , Inc. 2555 Telegraph Road Bloomfield Hills , MI 48302-0954 PENSKE AUTOMOTIVE REPORTS ALL - TIME RECORD QUARTERLY RESULTS Earnings Before Taxes , Net Income , and Earnings Per Share Increased By More Than 43 % Same - Store Retail Automotive Revenue Increased 6.6 % Repurchased 2.0 Million Shares During Third Quarter and 2.5 Million Shares Year - To - Date 35 Dealerships Named to the Automotive News List of Top 100 Best Dealerships To Work For Total Revenue - increased 8.8 % to $ 6.5 billion from $ 6.0 billion Gross Margin - increased 190 basis points to 17.9 % Selling , General & Administrative Expenses as a Percentage of Gross Profit - improved by 230 basis points Income From Continuing Operations Before Taxes - increased 52.8 % to $ 476 million Retail Automotive Same - Store Revenue - increased 6.6 % O New Vehicle -3.1 % ; Used Vehicle + 16.3 % ; Finance & Insurance + 15.3 % ; Service & Parts + 6.7 % Retail Automotive Same - Store Gross Profit - increased 18.4 % Retail Automotive Variable Gross Profit Per Unit - increased 38.8 % to $ 5,747 Retail Commercial Truck Dealership Earnings Before Taxes - increased 106.4 % Penske Transportation Solutions Equity Earnings - increased 83.4 % Commenting on the company's results , Chair and CEO Roger Penske said , " Our business produced an all - time record third quarter driven by strength across all areas of our business , including continued strong vehicle margins , improving service and parts operations , a growing Class 8 commercial truck market , record performance at Penske Transportation Solutions , and continuing cost controls , which contributed to a 230 basis point improvement in selling , general , and administrative expenses as a percentage of gross profit . During the quarter , we reduced long - term non - vehicle debt by $ 245.4 million to $ 1.4 billion , 1 PENSKE Automotive