<SEC-DOCUMENT>0001299933-14-001080.txt : 20140716
<SEC-HEADER>0001299933-14-001080.hdr.sgml : 20140716
<ACCEPTANCE-DATETIME>20140716161232
ACCESSION NUMBER:		0001299933-14-001080
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		11
CONFORMED PERIOD OF REPORT:	20140716
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140716
DATE AS OF CHANGE:		20140716

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PENSKE AUTOMOTIVE GROUP, INC.
		CENTRAL INDEX KEY:			0001019849
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
		IRS NUMBER:				223086739
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12297
		FILM NUMBER:		14978215

	BUSINESS ADDRESS:	
		STREET 1:		2555 TELEGRAPH RD
		CITY:			BLOOMFIELD HILLS
		STATE:			MI
		ZIP:			48302-0954
		BUSINESS PHONE:		248-648-2500

	MAIL ADDRESS:	
		STREET 1:		2555 TELEGRAPH RD
		CITY:			BLOOMFIELD HILLS
		STATE:			MI
		ZIP:			48302-0954

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNITED AUTO GROUP INC
		DATE OF NAME CHANGE:	19960726
</SEC-HEADER>
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<TYPE>8-K
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<DESCRIPTION>LIVE FILING
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<TITLE> Penske Automotive Group, Inc. (Form: 8-K) </TITLE>
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		UNITED STATES<BR>
	SECURITIES AND EXCHANGE COMMISSION
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	WASHINGTON, D.C. 20549
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	FORM 8-K
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	CURRENT REPORT
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	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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	Date of Report (Date of Earliest Event Reported):
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	July 16, 2014
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	Penske Automotive Group, Inc.
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	(Exact name of registrant as specified in its charter)
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	Delaware
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	1-12297
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	22-3086739
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_____________________<BR>
	(State or other jurisdiction
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_____________<BR>
	(Commission
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	of incorporation)
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	File Number)
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	Identification No.)
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	2555 Telegraph Road, Bloomfield Hills, Michigan
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	48302
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_________________________________<BR>
	(Address of principal executive offices)
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___________<BR>
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	248-648-2500
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	Not Applicable
<BR>______________________________________________<BR>
	Former name or former address, if changed since last report
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	&nbsp;
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:</FONT>
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[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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<P align="left" style="font-size: 10pt"><FONT style="font-size: 11pt"><B>Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain Officers.</B>
</FONT>

<P align="left" style="font-size: 11pt">On July&nbsp;16, 2014, Yoshimi Namba resigned from our Board of Directors and as our Senior Vice
President &#150; International Business Development. On July&nbsp;16, 2014, the Board of Directors filled the
vacancy created by Mr.&nbsp;Namba&#146;s resignation by appointing Kanji Sasaki as a director, as more fully
discussed in the press release incorporated herein and attached hereto as Exhibit&nbsp;99.1.


<P align="left" style="font-size: 11pt">Mr.&nbsp;Sasaki, 44, is an employee of Mitsui & Co., Ltd. and has spent the last 22&nbsp;years of his career
with Mitsui & Co. and its affiliates in various capacities, most recently serving as the General
Manager of Mitsui&#146;s First Motor Vehicles Division, Second Business Department from July&nbsp;2013 to
June&nbsp;2014. From August&nbsp;2011 to June&nbsp;2013, he served as a General Manager in Mitsui&#146;s Motor
Vehicles Americas Division, Penske & Logistics Department. From June&nbsp;2007 to June&nbsp;2011, Mr.&nbsp;Sasaki
was on secondment to Hino Motors Sales U.S.A., serving as a Senior Vice President, Secretary and
Treasurer. Mr.&nbsp;Sasaki began his career at Mitsui in April&nbsp;1992 and served in various capacities
with Mitsui, including secondment to Toyota Motor Corporation and Hino Motors Ltd. Mr.&nbsp;Sasaki will
not receive any compensation for serving as our director (other than a charitable match opportunity
up to $50,000), however we expect to appoint Mr.&nbsp;Sasaki as a company officer fostering
international business development opportunities at which time we expect to begin paying Mr.&nbsp;Sasaki
an annual compensation of approximately $335,000.


<P align="left" style="font-size: 11pt"><U><B>Item&nbsp;404A Disclosures</B></U>


<P align="left" style="font-size: 11pt">Entities affiliated with Roger S. Penske, the Company&#146;s Chairman of the Board and Chief Executive
Officer, are parties to a stockholders agreement described below. Mr.&nbsp;Penske is also Chairman of
the Board and Chief Executive Officer of Penske Corporation, and, through entities affiliated with
Penske Corporation, our largest stockholder. The parties to the stockholders agreement are Mitsui
& Co., Ltd., Mitsui & Co., (USA), Inc. (collectively, &#147;Mitsui&#148;), Penske Corporation and Penske
Automotive Holdings Corp. (collectively the &#147;Penske companies&#148;). Pursuant to the stockholders
agreement, the Penske companies agreed to vote their shares for up to two directors who are
representatives of Mitsui and Mitsui agreed to vote its shares for up to fourteen directors voted
for by the Penske companies. In </FONT><FONT style="font-size: 12pt">addition, the Penske companies agreed that if they transfer
any of our shares of common stock, Mitsui would be entitled to &#147;tag along&#148; by transferring a pro
rata amount of its shares upon similar terms and conditions, subject to certain limitations. This
agreement terminates in 2024, or, if earlier, upon the mutual consent of the parties or when either
party no longer owns any of our common stock.
</FONT>

<P align="left" style="font-size: 12pt">Mitsui possesses registration rights pursuant to which they are able on two remaining occasions
each to register all or part of our common stock held by them, subject to specified limitations.
They are also entitled to request inclusion of all or any part of their common stock in any
registration of securities by us on Forms S-1 or S-3 under the Securities Act of 1933, as amended.


<P align="left" style="font-size: 12pt">In 2012, the Company acquired a 70% interest in a group of BMW/MINI franchises in Northern Italy.
In February, 2013, the Company sold 50% of this joint venture interest to Mitsui & Co. Ltd. The
purchase price was approximately $8.4&nbsp;million which reflected our acquisition costs and subsequent
profits/losses of those franchises since acquisition. We entered into a joint venture agreement
with Mitsui that required us and Mitsui to agree to all significant actions by that joint venture,
and allowed the transfer of membership interests only after complying with standard tag-along and
right of first refusal provisions. In September&nbsp;2013, we purchased the joint venture interest back
from Mitsui & Co. Ltd. The purchase price was approximately $9.4&nbsp;million which reflected the same
purchase price calculation of acquisition costs and subsequent profits/losses of those franchises
since acquisition. The joint venture agreement discussed above was terminated.


<P align="left" style="font-size: 12pt"><FONT style="font-size: 11pt"><B>Item&nbsp;8.01 Other Events.</B>
</FONT>

<P align="left" style="font-size: 11pt">On July&nbsp;16, 2014, we announced that our Board of Directors has approved a quarterly dividend in the
amount of $0.20 per share payable September&nbsp;2, 2014 to shareholders of record as of August&nbsp;11,
2014, as discussed more fully in the press release incorporated herein and attached hereto as
Exhibit&nbsp;99.2.


<P align="left" style="font-size: 11pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>


<P align="left" style="font-size: 11pt">Exhibit&nbsp;99.1 Press Release.


<P align="left" style="font-size: 11pt">Exhibit&nbsp;99.2 Press Release.



<P align="center" style="font-size: 10pt; display: none">




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	SIGNATURES
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	Pursuant to the requirements of the Securities Exchange Act of 1934, the
	registrant has duly caused this report to be signed on its behalf by the
	undersigned hereunto duly authorized.
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	Penske Automotive Group, Inc.
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	July 16, 2014
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	By:
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	/s/Shane M. Spradlin
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	Name: Shane M. Spradlin
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	Title: Executive Vice President
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	Exhibit&nbsp;Index
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	Exhibit No.
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	Description
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	99.1
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	&nbsp;
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Press Release.
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	99.2
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	&nbsp;
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Press Release.
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="font-size: 12pt"><B>FOR IMMEDIATE RELEASE</B></FONT>
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<P align="center" style="font-size: 9pt"><FONT style="font-size: 12pt"><B>PENSKE AUTOMOTIVE APPOINTS NEW DIRECTOR</B></FONT>



<P align="left" style="font-size: 12pt"><B>BLOOMFIELD HILLS, MI, </B>July&nbsp;16, 2014 &#150; Penske Automotive Group, Inc. (NYSE:PAG), an international
transportation services company, today announced that Mr.&nbsp;Kanji Sasaki has been appointed to its
Board of Directors. Mr.&nbsp;Sasaki fills a vacancy created by the resignation of Yoshimi Namba from
the PAG Board.


<P align="left" style="font-size: 12pt">&#147;We welcome Mr.&nbsp;Sasaki to the Penske Automotive Group Board of Directors and look forward to
working directly with him to grow our company,&#148; said Penske Automotive Group Chairman Roger S.
Penske. &#147;Additionally, the PAG Board would like to express our thanks to Mr.&nbsp;Namba for his service
to our company and wish him well as he rejoins Mitsui & Co., Ltd.&#148;


<P align="left" style="font-size: 12pt">Mr.&nbsp;Sasaki brings 22&nbsp;years of service with Mitsui & Co. and related companies to the PAG Board of
Directors. During that time, Mr.&nbsp;Sasaki has held various positions at Mitsui & Co., Ltd. (Japan),
most recently serving as the General Manager of Mitsui&#146;s First Motor Vehicles Division, Second
Business Department from July&nbsp;2013 to June&nbsp;2014. Prior to that, he served as a General Manager in
Mitsui&#146;s Motor Vehicles Americas Division and also served as Senior Vice President, Secretary and
Treasurer for Hino Motors Sales U.S.A., from June&nbsp;2007 to June&nbsp;2011. Prior to 2007, Mr.&nbsp;Sasaki
served in various capacities with Mitsui.


<P align="left" style="font-size: 12pt"><U><B>About Penske Automotive</B></U>
<BR>
<U>Penske Automotive Group, Inc</U>., (NYSE:PAG) headquartered in Bloomfield Hills, Michigan, is
an international transportation services company operating automotive dealerships, commercial
vehicle distribution and car rental franchises principally in the United States, Western Europe,
Australia and New Zealand, employs approximately 19,400 people worldwide and is a member of the
Fortune 500 and Russell 2000. &nbsp;For additional information, visit the company&#146;s website at
<U>www.penskeautomotive.com</U>.


<P align="left" style="font-size: 12pt"><FONT style="font-size: 11pt"><I>Find a vehicle</I>: <U>http://www.penskecars.com</U>
<BR>
<I>Engage Penske Automotive</I>: <U>http://www.penskesocial.com</U>
<BR>
<I>Like Penske Automotive on Facebook</I>: <U>https://facebook.com/PenskeCars</U>
<BR>
<I>Follow Penske Automotive on Twitter</I>: <U>https://twitter.com/#!/Penskecarscorp</U>
<BR>
<I>Visit Penske Automotive on YouTube</I>: <U>http://www.youtube.com/penskecars</U>
</FONT>

<P align="left" style="font-size: 11pt"><FONT style="font-size: 12pt">Inquiries should contact:
</FONT>
<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="42%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 12pt">
    <TD align="left" valign="top">Contacts:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">David K. Jones<BR>
Executive Vice President and<BR>
Chief Financial Officer<BR>
248-648-2800<BR>
dave.jones@penskeautomotive.com
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Anthony R. Pordon<BR>
Executive Vice President &#150;<BR>
Investor Relations and Corporate<BR>
Development<BR>
248-648-2540<BR>
tpordon@penskeautomotive.com</DIV></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 12pt"><FONT style="font-size: 10pt"># # # # #</FONT>




<P align="center" style="font-size: 10pt; display: none">




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<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exhibit2.htm
<DESCRIPTION>EX-99.2
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 3.2//EN">
<HTML>
<HEAD>
<TITLE> EX-99.2 </TITLE>
</HEAD>
<BODY TEXT="#000000" BGCOLOR="#FFFFFF" ALINK="#0000FF" HLINK="#FF0000" VLINK="#800080">

<BODY style="font-family: 'Times New Roman',Times,serif">


<P align="right" style="font-size: 10pt"><FONT style="font-size: 10pt"></FONT>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="86%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 10pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="font-size: 12pt"><B>FOR IMMEDIATE RELEASE</B></FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="font-size: 12pt"><img src="e39933-1419781248228b2c44_2.jpg"><BR>
<img src="e39933-1419781248228b2c44_3.jpg"><BR>
<img src="e39933-1419781248228b2c44_4.jpg"><BR>
<img src="e39933-1419781248228b2c44_5.jpg"></FONT></TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="font-size: 12pt"><BR></FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 12pt"><B>PENSKE AUTOMOTIVE INCREASES DIVIDEND</B>



<P align="center" style="font-size: 12pt"><B>Shareholders to Receive $0.20 per Share</B>



<P align="left" style="font-size: 12pt"><B>BLOOMFIELD HILLS, MI, </B>July&nbsp;16, 2014 &#150; Penske Automotive Group, Inc. (NYSE:PAG), an international
transportation services company, today announced that its Board of Directors has approved a cash
dividend of $0.20 per share for the second quarter of 2014. The dividend is payable on September
2, 2014, to shareholders of record on August&nbsp;11, 2014.


<P align="left" style="font-size: 12pt">Penske Automotive Group President Robert H. Kurnick, Jr., said, &#147;We are pleased to offer our
shareholders another increase in the quarterly dividend. The increase in the dividend reflects our
commitment to increasing returns for shareholders and reinforces the continued confidence we have
in the strength of the auto retail market and our ability to continue growing our overall
business.&#148;


<P align="left" style="font-size: 12pt"><U><B>About Penske Automotive</B></U>
<BR>
<U>Penske Automotive Group, Inc</U>., (NYSE:PAG) headquartered in Bloomfield Hills, Michigan, is
an international transportation services company operating automotive dealerships, commercial
vehicle distribution and car rental franchises principally in the United States, Western Europe,
Australia and New Zealand, employs approximately 19,400 people worldwide and is a member of the
Fortune 500 and Russell 2000. &nbsp;For additional information, visit the company&#146;s website at
<U>www.penskeautomotive.com</U>.


<P align="left" style="font-size: 12pt"><U><B>Caution Concerning Forward Looking Statements</B></U>
<BR>
Statements in this press release may involve forward-looking statements, including forward-looking
statements regarding Penske Automotive Group, Inc.&#146;s future sales potential and outlook. Actual
results may vary materially because of risks and uncertainties that are difficult to predict.
These risks and uncertainties include, among others: economic conditions generally, conditions in
the credit markets and changes in interest rates, adverse conditions affecting a particular
manufacturer, including the adverse impact to the vehicle and parts supply chain due to natural
disasters or other disruptions that interrupt the supply of vehicles or parts to us; changes in
consumer credit availability, the outcome of legal and administrative matters, and other factors
over which management has limited control. These forward-looking statements should be evaluated
together with additional information about Penske Automotive&#146;s business, markets, conditions and
other uncertainties, which could affect Penske Automotive&#146;s future performance. These risks and
uncertainties are addressed in Penske Automotive&#146;s Form 10-K for the year ended December&nbsp;31, 2013,
and its other filings with the Securities and Exchange Commission (&#147;SEC&#148;). This press release
speaks only as of its date, and Penske Automotive disclaims any duty to update the information
herein.


<P align="left" style="font-size: 12pt"><I>Find a vehicle</I>: <U>http://www.penskecars.com</U>
<BR>
<I>Engage Penske Automotive</I>: <U>http://www.penskesocial.com</U>
<BR>
<I>Like Penske Automotive on Facebook</I>: <U>https://facebook.com/PenskeCars</U>
<BR>
<I>Follow Penske Automotive on Twitter</I>: <U>https://twitter.com/#!/Penskecarscorp</U>
<BR>
<I>Visit Penske Automotive on YouTube</I>: <U>http://www.youtube.com/penskecars</U>


<P align="left" style="font-size: 12pt">Inquiries should contact:

<DIV align="center">
<TABLE style="font-size: 12pt" cellspacing="0" border="0" cellpadding="0" width="95%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="51%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="font-size: 12pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">David K. Jones<BR>
Executive Vice President and<BR>
Chief Financial Officer<BR>
Penske Automotive Group, Inc.<BR>
248-648-2800<BR>
dave.jones@penskeautomotive.com
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Anthony R. Pordon<BR>
Executive Vice President Investor Relations<BR>
and Corporate Development<BR>
Penske Automotive Group, Inc.<BR>
248-648-2540<BR>
tpordon@penskeautomotive.com</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 12pt"># # #




<P align="center" style="font-size: 10pt; display: none">




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