Penske will give up U.S. Smart car sales

Christine Tierney / The Detroit News


Daimler AG's Mercedes-Benz luxury carmaker will take over U.S. sales and distribution of its slow-selling Smart cars from Penske Automotive Group. The two companies said they were negotiating a shift in the distribution rights, management, sales and marketing activities of Smart USA from Roger Penske's conglomerate to Mercedes by June 30.



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Penske also canceled the development of a

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