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"Our retail operations performed well during the third quarter, experiencing continued sequential improvement compared with the second quarter," said Penske Automotive Chairman Roger Penske. "The cash for clunkers program provided a welcome boost to our U.S. business during the quarter, and our U.K. operation continues to outperform in its market. Most importantly, our adjusted selling, general and administrative expenses declined by $32.1 million versus the prior year, improving 90 basis points as a percentage of gross profit, as our business continues to demonstrate the resiliency of the automotive retail model." Write to Chip Brian at cbrian@tradethetrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com. Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup.html For full details on Penske Automotive (PAG) click here. Penske Automotive (PAG) has Short Term PowerRatings of 6. Details on Penske Automotive (PAG) Short Term PowerRatings is available at This Link.
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