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Penske Automotive Group provided an operational update on its business, noting improvements in automotive retail business conditions when compared to March and April. Penske Automotive Group CEO Roger Penske said, "I am encouraged by the significant improvement we continue to see in our operations. Since the COVID-19 pandemic began impacting operations in the second half of March, we took actions to reduce costs and preserve our liquidity position. Based on these actions, I expect further improvements to our operating results in June and into the second half of the year as the economy continues to recover." Penske Automotive said in a release, In the United States, " All automotive retail dealership sales and service operations are open. As shelter in place orders impacted operations in April, new and used unit sales declined approximately 50% and service and parts gross profit declined by 52% when compared to April last year. In May 2020, business conditions began improving. New and used unit sales declined approximately 25% when compared to May last year and increased 60% sequentially from April to May 2020. Service and parts gross profit declined 39% in May when compared to the same-period last year but increased 28% sequentially from April to May 2020. The company's North American commercial truck dealership sales and service operations have remained open. In April 2020, new and used unit sales were essentially flat with April last year. In May 2020, new and used unit sales declined 20% when compared to May last year, as the Class 8 heavy-duty truck market adjusted from its record level last year. On a same-store basis, new and used units declined 39% as compared to April last year and declined 19% sequentially from April to May 2020. Service and parts gross profit remains strong with May fixed absorption remaining above 120% and repair orders per day increased 7% sequentially from April to May 2020." In the United Kingdom, "All dealerships had closed on March 24th in accordance with government order. Service and parts operations resumed during the middle of May while dealership showrooms re-opened on June 1, 2020, for most of the U.K. Despite the dealerships being closed, we remotely delivered approximately 2,500 vehicles in May. Further, through e-commerce efforts, our U.K. dealership operations had more than 4,000 vehicles sold and awaiting delivery at the beginning of June. Since re-opening June 1, sales have been strong and increased approximately 50% during the first week of June 2020 when compared to the same period last year." In Europe, "All dealerships and service operations in Germany, Italy and Spain are now open. As restrictions are lifted in each country, operations are improving from week to week." In Australia, "All operations are open and restrictions in the market are being gradually lifted. The mining, transportation, defense and power generation sectors remain resilient and service revenue increased 8% sequentially from April to May 2020."