• Penske Automotive average gross margin for 2023 was 16.96%, a 4.56% decline from 2022.
• Penske Automotive average gross margin for 2022 was 17.77%, a 8.16% decline from 2021.
• Penske Automotive average gross margin for 2021 was 16.43%, a 8.02% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.