BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Penske Automotive Group, Inc. (NYSE:PAG), an international automotive retailer, is pleased to announce the opening of Royal Palm Toyota Scion located in Royal Palm Beach, Florida. This dealership is part of a new automall being developed by Penske Automotive Group in this city near Palm Beach, Florida. The new automall will include the Toyota Scion dealership along with Nissan and Mazda franchises that are expected to open later this year.
Royal Palm Toyota Scion is a newly built open point for the Toyota Scion brands. Penske Automotive Group President, Roger S. Penske Jr., said, “We are thrilled with the opportunity to represent the Toyota and Scion brands in this developing market. Our newest dealership is built on 12 acres and includes more than 45,000 square feet of facilities, 29 service bays and provides customers with an array of amenities to complement their vehicle purchase and service experience.”
Penske Automotive Group, Inc., headquartered in Bloomfield Hills, Michigan, operates 315 retail automotive franchises, representing 40 different brands, and 26 collision repair centers. Penske Automotive, which sells new and previously owned vehicles, finance and insurance products and replacement parts, and offers maintenance and repair services on all brands it represents, has 170 franchises in 18 states and Puerto Rico and 145 franchises located outside the United States, primarily in the United Kingdom. Penske Automotive is a member of the Fortune 500 and Russell 1000 and has 16,000 employees.
Statements in this press release may involve forward-looking statements, including forward-looking statements regarding Penske Automotive Group, Inc.'s dealerships in development. Actual results may vary materially because of risks and uncertainties, including receipt of requisite approvals and external factors such as interest rate fluctuations, changes in consumer spending and other factors over which management has no control. These forward-looking statements should be evaluated together with additional information about Penske Automotive’s business, markets, conditions and other uncertainties, which could affect Penske Automotive’s future performance, which are contained in Penske Automotive’s Form 10-K for the year ended December 31, 2006, and its other filings with the Securities and Exchange Commission and which are incorporated into this press release by reference. This press release speaks only as of its date, and Penske Automotive disclaims any duty to update the information herein.