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|UnitedAuto Group Opens First Dealerships At Innovative Chauncey Ranch Auto Complex|
|North Scottsdale Dealerships to Feature Museum, Test-track and Business Center
DETROIT, MI, June 20, 2002 - UnitedAuto Group, Inc., (NYSE: UAG), a FORTUNE 500 automotive specialty retailer, announced today that it has opened dealerships for Audi, BMW, MINI and Porsche at its 40-acre, state-of-the-art auto complex in North Scottsdale, Arizona. This innovative complex will offer a variety of features including an 8,000-square foot transportation museum, a 150-seat theatre-style conference center, a test-track and off-road course.
The new, upscale and customer-focused facility is located at the southwest corner of Scottsdale Road and Chauncey Lane, and is scheduled for final completion in November of 2002. The North Scottsdale location, once completed, will house eleven franchises, representing upscale Asian, Domestic and European brands. The complex will feature previously owned vehicles as well.
In addition to the recently opened dealerships, the project will be anchored by a collection of Ford Premier Auto Group brands, which will be grouped in a Premier Auto Group facility on the northeast side of the complex. Additional facilities for Acura and Volkswagen will have prominent placement in the complex with frontage on Chauncey Lane. 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. Acura, Aston Martin, BMW, Porsche and Volvo will relocate from their current locations in Scottsdale. Audi, Jaguar, Land Rover, Lincoln-Mercury, MINI and Volkswagen are new points, which have been awarded by their respective OEMs.
UnitedAuto Group Chairman and CEO, Roger Penske, said, "The new complex is the first of its kind, offering a wide range of luxury and domestic automobiles. 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."
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 122 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 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