Penske enjoying booming fortunes in early 2018

Tax break and record truck sales helping lift profits

Roger Penske has welcomed the latest financial figures released today by his car and truck retailing, and truck leasing, operation in the U.S.

The business is cashing in on recently introduced company tax cuts in the U.S., solid car sales numbers and the booming truck sales being experienced in the businesses home market.

Related: Penske fits onboard cameras to truck fleet

Penske’s Retail Commercial Truck Operations across the first three months of the year retailed 2,105 vehicles, a near 40% improvement on the same period last year.

Those sales generated $292.4 million USD of revenue, and $46.6 million of gross profit.

While there was a 15.1% increase in truck servicing and parts revenue.

The good times also flowed through to the Penske Truck Leasing division with $1.5 billion USD in operating revenue and net income of $55.0 million in the three month period.

Mr Penske said he was pleased to report another quarter of record results.

“The record results were driven by outstanding performance across each area of our business, demonstrating the strength of our diversified transportation services model.”

Related: Penske marks first Western Star 5800 delivery in Sydney

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