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|UnitedAuto Group Completes Largest Luxury Automobile Shopping Mall In The United States|
North Scottsdale Dealerships Feature Museum, Test-track and Customer Lounge/Café
DETROIT, MI, November 13, 2002 - UnitedAuto Group, Inc. (NYSE: UAG), a FORTUNE 500 automotive specialty retailer, announced today the completion of the first single owner premier luxury automobile shopping mall in the United States. The new, upscale, customer-focused facility is located in North Scottsdale, Arizona, one of the fastest growing markets in the country.
The distinctive mall, located on approximately 40 acres, features 11 separate showrooms and franchises with over 450,000 square feet of facilities, where customers may choose from an inventory of over 2,000 new and used vehicles. The facility offers approximately 250,000 square feet of service capacity with 253 service bays that will service approximately 1,000 vehicles per day, and it features an on/off road test course where customers may experience the uniqueness of the brands offered. In addition to these features, the complex houses a large auto detail center with a capacity of 700 vehicles per day, a Hertz Rent A Car operation, and an 8,000 square foot motor sports museum and café.
The North Scottsdale dealerships, which are expected to generate approximately $500 million in annual revenues, are anchored by a collection of Ford Premier Auto Group brands, which are grouped in a Premier Auto Group facility. BMW, MINI, Porsche, Audi, Land Rover, Acura, and Volkswagen also have prominent placement in the complex. UnitedAuto's commitment to work closely to further the strategic goals of its OEM partners is evidenced by the strong brand character present in the design of each facility. Porsche, BMW, Aston Martin, Volvo and Acura will relocate from their current locations in Scottsdale. MINI, Audi, Land Rover, Jaguar, Lincoln Mercury and Volkswagen are new points, which have been awarded by their respective OEMs.
UnitedAuto Group Chairman Roger Penske said, "This new complex is the first of its kind, offering a wide range of choices for the consumer. We recognize that the North Scottsdale area is one of the fastest growing markets in the country, and believe that this project will successfully cater to the needs of our customers. We believe it supports the trend in retailing where customers have come to expect a premium level of service and amenities. Our goal is to have a one stop shopping experience for our customers supported by the highest quality products and services. Our commitment to excellence will allow UnitedAuto to attract and retain the highest quality sales and service associates to best meet the needs of our customers."
Automotive enthusiasts will be encouraged to tour the auto retail boutiques and visit the café offered at the facility. In addition, the on-site museum will feature a variety of displays and transportation-related exhibits.
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 aftermarket 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.