The Penske Automotive Group,Inc,which is the national importer and distributor of Smart in the USA is in serious financial difficulty...Its credit rating has been lowered to junk status and it just announced it is suspending its stock dividend...Penske also owns Smart dealerships( including the one in Arizona) as well as Mercedes dealerships...All auto businesses are in trouble due to reduction in sales...I helped Penske by buying my Smart last Saturday...Let us all hope that Penske survives and Smarts continue to be imported...

Views: 41

Reply to This

Replies to This Discussion

Back on Feb. 3rd when this was first posted Penske (PAG) stock was going for $7.27 per share. Today March 25th it closes at $9.96 per share. I think we're safe for now
Moody's has downgraded Penske debt rating further into junk status this week....
I hope Penske turns out OK. I imagine that MB would continue to import the smart even if Penske can't because as far as I understand the smart counts twards MBs CAFE numbers.
Theodore Emilio Montecillo said:
Please list your informational sources. Otherwise your comment will just be personal opinion and hearsay. Ted.
Read the financial news Theodore...By federal SEC regulations, it is always factual...

Reply to Discussion

RSS

find a

smart center

go

Photos

Loading…
  • Add Photos
  • View All

Videos

  • Add Videos
  • View All

© 2014   Mercedes-Benz USA, LLC.

Badges  |  Report an Issue  |  Terms of Service