Penske Automotive Group, Inc. is an automotive retailer. The Company is engaged in the sale of new and used motor vehicles and related products and services, including vehicle service, collision repair, and placement of finance and lease contracts, third-party insurance products and other aftermarket products. The Company operates dealerships under franchise agreements with a number of automotive manufacturers and distributors. The Company operates in two segments: Retail, consisting of its automotive retail operations and PAG Investments, consisting of its investments in non-automotive retail operations. The Retail reportable segment includes all automotive dealerships and all departments relevant to the operation of the dealerships and the retail automotive joint ventures. In October 2013, the Company acquired two franchises, Jaguar and Land Rover Annapolis.