07:21 AM EDT, 07/03/2025 (MT Newswires) -- Penske Automotive Group ( PAG ) said Thursday that it has completed the acquisition of a Ferrari dealership in Modena, Italy.

Financial details of the transaction were not disclosed.

This expands Penske Automotive's ( PAG ) luxury car presence in Italy to 29 automotive retail locations, with nine Ferrari locations worldwide, the company said.

Estimated annualized revenue of the Modena location is $40 million, Penske said.