Penske Automotive Group is exiting its deal with Daimler AG to market Smart in the U.S. Instead, the automaker's Mercedes-Benz luxury division will handle sales and marketing of the slow seller. In a
joint statement, the two companies said the move reflected changes at Smart's headquarters in Germany. Sales of the Smart fell nearly 60% last year in a market that expanded 11.1%. Penske and Daimler
put the distribution deal together five years ago. Now the automaker says it will collaborate with Renault SA on product development for Smart vehicles.
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