Penske Automotive Group said its U.S. vehicle sales improved from May to June and the nation’s second-largest new-vehicle retailer expects to post a profit when second-quarter results are planned for release July 29.
The retailer said Tuesday that it expects second-quarter earnings per share from continuing operations to range from 52 cents to 57 cents. The company, whose business was hampered early in the quarter amid the coronavirus pandemic, said improved June franchise business in the U.S. and the United Kingdom, expense management and robust sales upon reopening used-vehicle supercenters last month aided results.
