Penske Automotive Group, Inc. (NYSE:PAG) is looking for acquisitions. Shelley Hulgrave, Executive Vice President, Chief Financial Officer said, "We've also spent $110 million on CapEx and an additional $30 million for land acquisitions for future growth. When looking at our future capital allocation, we maintain a disciplined approach that focuses on opportunistic acquisitions and investments across our retail automotive and commercial truck businesses; capital expenditures to support growth and our sustainability initiatives; delivering a strong dividend to our shareholders; accretive securities repurchases, especially in light of elevated valuations of current acquisition opportunities in the retail automotive market; and reducing debt where possible".