Penske Automotive Group, Inc. (NYSE:PAG) acquired Mercedes-Benz of South Charlotte on June 3, 2021. With the completion of this acquisition, Penske Automotive Group has now added over $700 million in expected annualized revenue to its operations this year as the company drives to its target goal of achieving $1 billion in earnings before taxes in 2023. Penske Automotive Group, Inc. (NYSE:PAG) completed the acquisition of Mercedes-Benz of South Charlotte on June 3, 2021.