Day: April 29, 2021

Penske Automotive Group Inc (PAG) Q1 2021 Earnings Call Transcript

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Image source: The Motley Fool.

Penske Automotive Group Inc (NYSE:PAG)
Q1 2021 Earnings Call
Apr 28, 2021, 2:00 p.m. ET

Contents:

  • Prepared Remarks
  • Questions and Answers
  • Call Participants

Prepared Remarks:

Operator

Good afternoon, ladies and gentlemen. Welcome to the Penske Automotive Group First Quarter 2021 Earnings Conference Call. Today’s call is being recorded and will be available for replay approximately one hour after completion through May 5, 2021, on the company’s website under the Investors tab at www.penskeautomotive.com. I will now introduce Anthony Pordon, the company’s Executive Vice President of Investor Relations and Corporate Development. Sir, please go ahead.

Anthony R. PordonExecutive Vice President of IR & Corporate Development

Thank you, Maria. Good afternoon, everyone, and also thank you for joining us today. A press release detailing Penske Automotive Group’s first quarter 2021 financial results was issued this morning and is posted on our website

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90% of UK car manufacturers struggling with new Brexit rules

UK car production rose 46.6% in March. Photo: Getty Images

UK car production rose 46.6% in March. Photo: Getty Images

Almost all car makers in the UK are having a hard time figuring out new trade rules post-Brexit, the Society of Motor Manufacturers and Traders (SMMT) said on Thursday, as it announced that UK car production rose for the first time in 18 months.

“Automotive businesses are working incredibly hard to maintain output, with some nine-in-ten (91%) firms spending more time and resource managing UK/EU trade than in 2020,” the body said.

More than a third (36%) are devoting more resources to ‘rest of the world’ trade.

The SMMT said that as UK automotive is export-led, maintaining free and fair trade with all nations is “crucial to its future prosperity.”

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Exports to the EU, US and Asia were all

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Car & Automotive,automotive industry,Car & Mechanical,Car & Classic,motorcycleTransport infrastructure consists of the fastened installations, including roads , railways , airways , waterways , canals and pipelines and terminals resembling airports , railway stations , bus stations , warehouses , trucking terminals, refueling depots (together with fueling docks and fuel stations ) and seaports Terminals could also be used each for interchange of passengers and cargo and for maintenance. Other car business careers could possibly be in auto mechanics, body work, or the detail division. A mechanic works on the car’s motor and other instruments when the car just isn’t working properly. A person who is within the body work department is chargeable for fixing dents and paint issues to the outside of the automotive. Employees within the element department clean the automobile’s interior and get it able to be shown to clients.

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