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|UnitedAuto Announces Grand Re-Opening of New Toyota and Lexus Dealerships - Kearny Mesa Toyota and Lexus Kearny Mesa in San Diego, California|
DETROIT, MI, April 7, 2003 - UnitedAuto Group, Inc. (NYSE: UAG), a FORTUNE 500 automotive specialty retailer, today announced the grand re-opening of two new, start-of-the-art dealerships visible from Highway 163 and located next to each other on Kearny Mesa Road between Balboa Avenue and Clairemont Mesa Boulevard.
The two new stores offer combined showroom space of over 111,000 square feet as well as 86 service bays. In addition to the ultra-modern showroom and service facilities, both dealerships are equipped with comfortable customer lounges, which include private work areas with Internet access.
UnitedAuto Chairman Roger Penske and Yoshi Inaba, President and Chief Executive Officer of Toyota Motor Sales USA, presided over the official ribbon-cutting ceremony held earlier today.
Roger Penske said, "The opening of these two facilities demonstrates our continued commitment to support the needs of our retail customers with environments consistent with the OEM brands we represent."
UnitedAuto, which has pursued a strategy based on internal growth from its existing dealerships, as well as from strategic acquisitions, operates 129 franchises in the United States and 71 franchises internationally, primarily in the United Kingdom. UnitedAuto dealerships sell new and used vehicles, and market a complete line of after-market automotive products and services.
Statements in this press release may include forward-looking statements. These forward-looking statements should be evaluated together with additional information about UnitedAuto's business markets, conditions and other uncertainties which are contained in UnitedAuto's filings with the Securities and Exchange Commission and which are incorporated into this press release by reference.