PENSKE AUTOMOTIVE GROUP COMPLETES ACQUISITION OF FERRARI DEALERSHIP IN NORTHERN ITALY
1. Penske Automotive completes acquisition of Ferrari dealership in Modena, Italy. 2. New dealership expands luxury brand presence to 29 locations in Italy. 3. Estimated annual revenue from the new location is $40 million. 4. Penske now represents nine Ferrari locations globally, enhancing its market position. 5. Strong leadership and reputation will improve customer service for Ferrari clients.