Penske Surpasses Pendragon as Europe’s Biggest Dealer Group

Penske Automotive Group Inc. has become Europe’s largest independent dealer group, according to Automotive News Europe.

The Bloomfield Hills, Mich.-based company was second to the U.K.’s Pendragon plc in 2014. But last year acquisitions pushed Penske ahead with revenue in Europe of €6.4 billion ($6.9 billion) compared with €6 billion ($6.4 billion) for Pendragon.

Penske’s European operations sell 24 brands through 181 franchise points, according to data compiled by ICDP, the British auto distribution research firm.

ICDP says Penske’s growth through acquisition mirrors a wave of consolidation in Europe, including moves by carmakers to shed their low-margin, company-owned dealerships.