# PENSKE AUTOMOTIVE GROUP, INC. (PAG) MD&A by fiscal year

Verbatim Item 7 Management's Discussion and Analysis sections from PENSKE AUTOMOTIVE GROUP, INC.'s 10-K filings, one page per fiscal year. Extracted from SEC filings with the same bounded parser for every year. Filer text, not grepcent analysis or investment advice.

- [FY 2025 MD&A](/company/PAG/mda/fy2025/): filed 2026-02-27; accession 0001628280-26-012830 (https://www.sec.gov/Archives/edgar/data/1019849/000162828026012830/pag-20251231.htm); latest 10-K
- [FY 2024 MD&A](/company/PAG/mda/fy2024/): filed 2025-02-21; accession 0001019849-25-000022 (https://www.sec.gov/Archives/edgar/data/1019849/000101984925000022/pag-20241231.htm)
- [FY 2023 MD&A](/company/PAG/mda/fy2023/): filed 2024-02-16; accession 0001019849-24-000033 (https://www.sec.gov/Archives/edgar/data/1019849/000101984924000033/pag-20231231.htm)
- [FY 2022 MD&A](/company/PAG/mda/fy2022/): filed 2023-02-21; accession 0001019849-23-000038 (https://www.sec.gov/Archives/edgar/data/1019849/000101984923000038/pag-20221231.htm)
- [FY 2021 MD&A](/company/PAG/mda/fy2021/): filed 2022-02-18; accession 0001019849-22-000013 (https://www.sec.gov/Archives/edgar/data/1019849/000101984922000013/pag-20211231.htm)

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