Penske Automotive Group’s Post

O’Reilly Automotive, Inc. (NASDAQ:ORLY) Q4 2023 Earnings Call Transcript: … Welcome to the O’Reilly Automotive, Inc. Fourth Quarter and … fundamental backdrop for the automotive aftermarket industry is stable … NASDAQ:ORLY) Follow O Reilly Automotive Inc (NASDAQ:ORLY) We … NAICS data, sales through automotive supply in entire stores. … #car #cars #awesome

A quick glance at the top automotive stories of the week.

Not surprising Penske Automotive Group and Hedin Mobility Group pulled the plug. Will wait and see what AutoNation does but betting money is on Lithia & Driveway to pull off this deal. A definite coup for a large but seriously underperforming group in Pendragon Vehicle Management, Pendragon PLC. A massive presence in the UK with over 200 rooftops initially for Lithia (select ones will be closed). #business #leadership #strategy #automotiveindustry #management #culture #sales #marketing #innovation #ecommerce #branding #business  #digitalmarketing #ai #autonomousdriving #media #digitalmarketing

Interesting development in the US pick-up light truck market; the OEMs are finally figuring out that pick-ups owned by those employing their vehicles for work is a totally different market segment than suburbanites who are enamored with the 'tough' image of owning a pick-up to load a scoop of mulch once a year. Ford saw the light last year and successfully started their Pro sales/service channel for workers employing their vehicles for work. Note that the F-150 is the most popular new light vehicle sold in the US. Ironically, the original purpose of GM's GMC division was to do the same as Ford and Stellantis, but they lost their way over the last few decades and now sell to all commers. I will surmise that GM will either refocus the GMC brand to those employing their pick-ups, as well as selective SUVs, in the trades, or will launch a separate sales/support channel. The question is whether other OEMs selecting pick-up trucks in the US will follow this path? #oems #ford #stellantis #gm #pickuptruck

Great news for the Automotive Industry and Kentucky. I enjoy partnerships with many of the automotive suppliers in Kentucky. Interesting information! Automotive is a multi-billion-dollar industry in Kentucky. According to the Kentucky Cabinet for Economic Development:  *Kentucky is the nation’s number one producer of cars, lights trucks, and SUVs per capita.  *Kentucky is home to 557 automotive-related companies that employ more than 103,000 people, including 13,900 new jobs since 2020.  *Since 2020, Kentucky’s automotive industry has announced more than $12.6 billion in investments.  *Kentucky’s automotive-related exports totaled $6 billion in 2023.  *One out of every 18 workers in the U.S. automotive industry works in Kentucky. 

🚗🏭 Big news for Kentucky’s booming automotive industry! The Kentucky Association of Manufacturers (KAM) has launched an Automotive Industry Council, further solidifying our state’s role as a leader in automotive production. 📊 With 557 automotive-related companies, employing over 103,000 people, and more than $12.6 billion in investments since 2020, Kentucky is the nation’s top producer of cars, light trucks, and SUVs per capita. 🌟 In 2023 alone, our automotive-related exports totaled $6 billion. One out of every 18 workers in the U.S. automotive industry calls Kentucky home. 👏 KAM’s new Automotive Council is a reflection of the industry’s vital importance to Kentucky. #KentuckyAutomotive #ManufacturingExcellence #KAM #EconomicDevelopment #AutomotiveIndustry

Exciting insights from Cox Automotive Inc. on the UK's used car market! 🚘   With forecasts projecting up to 7.7 million transactions by year-end, it's clear the sector is experiencing significant growth.    Despite this positive momentum, Philip Nothard emphasises the importance of cautious optimism, considering factors like new market dynamics and economic uncertainties.    Read more about the latest forecasts and industry insights here - https://lnkd.in/eHNTd8Ab   #UsedCarMarket #AutomotiveIndustry #AutomotiveInsights #ECWSearch #Automotive #MarketInsights

What's New to The Street... Challenges in the fast lane! 🚗💨 Volkswagen Group sees a dip in profit due to lower sales volume and increased costs, with operating results down by 20%. Time to navigate through efficiency and innovation! 👉🏻Follow New To The Street for more! #VWGroup #AutoIndustry #BusinessChallenges #BusinessNews #businessnews #business #news #newtothestreet

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