Penske Automotive Group Expands BMW Presence

Acquires BMW Dealership in Bloomfield Hills, Michigan

Represents $100 Million in Expected Annualized Revenues

BLOOMFIELD HILLS, Mich., Dec. 14, 2021 /PRNewswire/ -- 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 that it has acquired Erhard BMW of Bloomfield, located in Bloomfield Hills, Michigan, representing the Company's 48th BMW dealership world-wide. Commenting on the acquisition, President Rob Kurnick said, "This dealership has a strong legacy of serving BMW enthusiasts in the metropolitan Detroit market for over 50 years. We are thrilled to expand our presence and relationship with the BMW brand and welcome Erhard BMW of Bloomfield, the largest BMW dealership in Michigan, to the Penske Automotive Group team."

The acquired dealership is expected to generate approximately $100 million in

annualized revenue. Year-to-date, Penske Automotive Group has added approximately $1.2 billion in expected annualized revenue through the completion of retail automotive and commercial truck dealership acquisitions.

About Penske Automotive
Penske Automotive Group, Inc., (NYSE: PAG) headquartered in Bloomfield Hills, Michigan, is a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers.  PAG operates dealerships principally in the United States, the United Kingdom, Germany, Italy, and Japan and is one of the largest retailers of commercial trucks in North America for Freightliner.  PAG also distributes and retails commercial vehicles, diesel and gas engines, power systems and related parts and services principally in Australia and New Zealand. Additionally, PAG owns 28.9% of Penske Transportation Solutions, a business that manages a fleet of over 350,000 vehicles providing innovative transportation, supply chain and technology solutions to North American fleets.  PAG is a member of the Fortune 500, Russell 1000, and Russell 3000 indexes, and is ranked among the World's Most Admired Companies by Fortune Magazine. For additional information, visit the company's website at www.penskeautomotive.com.