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|UnitedAuto Same Store Honda New Unit Sales Increase 28 Percent During the First Half of 2001|
|DETROIT, MI, July 19, 2001 - UnitedAuto Group, Inc. (NYSE: UAG), a leading publicly traded automobile retailer and member of the FORTUNE 500, announced today that same store new unit sales for its Honda brand increased 28 percent in the United States during the first half of 2001. The outstanding performance posted by UnitedAuto's Honda dealerships compares favorably with the
2 percent increase in Honda's overall first half 2001 United States unit sales. Strong same store sales performance from the UnitedAuto Honda stores was driven, in part, by UnitedAuto's focus on operating larger dealerships in attractive geographic locations.
President Sam DiFeo stated, "We are pleased with the strong results posted by our United States Honda dealerships. Honda continues to demonstrate manufacturing, sales and loyalty leadership. With the recent acquisitions of the Honda dealerships in Houston, Texas and Nanuet, New York, UnitedAuto is positioned to further capitalize on the strong performance of this 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 19 states, Puerto Rico and Brazil. 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.