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|UnitedAuto Expands Operations in its Houston, Texas Hub Market; Opens New Dodge Dealership in Spring|
DETROIT, MI, July 17, 2002 - UnitedAuto Group, Inc. (NYSE: UAG),
a FORTUNE 500 automotive specialty retailer, announced today that it has
opened Goodson Dodge North in Spring, Texas, a suburb of Houston. The
dealership fills a newly created open point for Dodge in the suburban
Houston market. The Dodge open point was awarded to UnitedAuto by DaimlerChrysler.
Existing Houston hub operations for UnitedAuto include dealerships for
Chrysler, Dodge, GMC, Honda (two), Jeep and Pontiac.
President Sam Difeo stated, "We're excited about the prospects for the popular Dodge brand in Spring. The addition of this franchise to our portfolio in the Houston area furthers our goal to leverage existing resources in this important hub market."
Chairman Roger Penske commented, "The award of this new point by DaimlerChrysler once again validates our strategy to work closely with the OEMs as a significant partner to grow the retail business. We are delighted that we were presented this opportunity to increase our presence with the Dodge brand.
UnitedAuto, which has pursued a strategy based on internal growth from its existing dealerships, as well as from strategic acquisitions, operates 123 franchises in the United States and 66 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