Revenue during the quarter went down marginally by 0.68 percent to $4,887.80 million from $4,921.30 million in the previous year period. Gross margin for the quarter expanded 31 basis points over the previous year period to 14.88 percent. Total expenses were 97.44 percent of quarterly revenues, up from 97.44 percent for the same period last year.

Operating income for the quarter was $125.20 million, compared with $126.10 million in the previous year period.

Commenting on the company’s results, Penske Automotive Group Chairman Roger S. Penske said, "The recently completed year was the best in the history of our company. In addition to achieving new performance records, we took meaningful steps to expand, enhance and further diversify our business through strategic investments and acquisitions, particularly within the used vehicle market in both the U.S. and U.K.” Penske continued, "In the fourth quarter, our retail automotive business continued to perform well and I was particularly pleased to see increases in new vehicle, used vehicle and finance & insurance gross profit per vehicle retailed when excluding foreign exchange."

Debt moves up
Penske Automotive Group, Inc. has witnessed an increase in total debt over the last one year. It stood at $5,194.90 million as on Dec. 31, 2016, up 11.61 percent or $540.30 million from $4,654.60 million on Dec. 31, 2015. Total debt was 58.63 percent of total assets as on Dec. 31, 2016, compared with 58.02 percent on Dec. 31, 2015. Debt to equity ratio was at 2.92 as on Dec. 31, 2016, up from 2.54 as on Dec. 31, 2015. Interest coverage ratio deteriorated to 3.41 for the quarter from 3.92 for the same period last year.