Penske Automotive Group, Inc. (NYSE:PAG) reported Q1 earnings per share of $3.21, missing estimates of $3.31, with sales of $7.448 billion also missing the consensus of $7.465 billion. Revenue increased by 1.5% year over year, despite being negatively impacted by higher interest costs and lower equity earnings from Penske Transportation Solutions. The company saw a recovery in its used vehicle operations, with profitability per unit improving. Total new and used units delivered increased by 4%, with same-store new and used units up by 1%. The company's focus on cost control improved SG&A expenses as a percentage of gross profit by 30 basis points to 70.7%. Same-store service and parts revenue and gross profit increased by 5%. PAG shares dropped 1.46% to $153.17.