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Penske Revs Up Buy Point On 698% EPS Growth, AI-Driven Way For Users To Buy Cars Online

Penske Automotive (PAG) is revving up a potential new breakout as it debuts a new automated platform to help people buy cars online. That move comes as Penske already has its foot on the pedal, driving 698% earnings growth and a 91% spike in revenue last quarter.




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Like some of the high-performance cars Penske sells, PAG stock has motored its way onto a spot on the IBD Breakout Stocks Index.

Penske Automotive has a 95 Composite Rating, putting it within the top 5% of all companies based on the most important stock-picking traits.

In Stock Checkup, Penske ranks No. 4 within the automotive retailers industry. AutoNation (AN), Asbury Automotive (ABG) and Lazydays (LAZY) are also among the top car dealers in the group.

Penske Innovates How People Buy Cars Online

In July, Penske Automotive and Cox Automotive

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Apple may manufacture self-driving cars at the Kia assembly plant in West Point, Georgia.

Gov. Brian Kemp said Thursday he welcomed the possibility that Apple will set up production with Kia Motors to manufacture Apple-branded vehicles at the Korean company’s assembly plant in West Point.

“Kia’s commitment to excellence and its strong partnership with the state only strengthens Georgia’s status as a leader in technology, innovation and manufacturing,” said Kemp in a nod to media reports.

CNBC reported on Wednesday that Apple was close to finalizing a deal with Kia to produce Apple-designed vehicles at the West Point plant in Georgia. Apple will invest $3.6 billion in the venture with Kia, which will start operations in 2024, Bloomberg reported, citing a Korean news agency.

State economic development officials with direct knowledge of discussions stressed to The Atlanta-Journal Constitution that no agreement has been finalized.

Rick Douglas, a West Point-based spokesman for Kia, declined to comment Thursday. Apple did not respond to requests for comment.

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