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|UnitedAuto Expands Presence in Metropolitan Phoenix; New Lexus Dealership under Construction in Chandler, Arizona|
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--June 2, 2005--UnitedAuto Group, Inc. (NYSE:UAG), a FORTUNE 500 automotive specialty retailer, is expanding its presence in Phoenix. Construction of its newest dealership, Lexus of Chandler, is currently underway.
Located at Ray Road and the Interstate I-10 freeway, the new Lexus dealership is a companion point to complement the Company's existing Lexus franchise in Scottsdale, Arizona. The new facility will be located on a 22-acre site in a campus setting adjacent to the Company's Mercedes-Benz of Chandler dealership. The new, 66,000-square-foot Lexus of Chandler facility will be equipped with customer-friendly attributes luxury buyers expect in today's marketplace, including a service department with 30 service bays to handle the expanding units in operation for Lexus in this market.
George Brochick, Executive Vice President of UnitedAuto's Western Operations, said, "We are pleased that Lexus has recognized our outstanding commitment to this luxury brand with a new companion point in the rapidly growing Chandler area of metropolitan Phoenix. Lexus of Chandler represents our 23rd franchise in the Phoenix area and will allow us to further leverage our existing scale in UnitedAuto's largest market."
The new Lexus dealership is expected to be completed during the fourth quarter of 2005.
UnitedAuto, which has pursued a strategy based on internal growth from its existing dealerships, as well as from strategic acquisitions, operates 149 franchises in the United States and 96 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 involve forward-looking statements, including forward-looking statements regarding UnitedAuto. Actual results may vary materially because of risks and uncertainties, including external factors such as interest rate fluctuations, changes in consumer spending and other factors over which management has no control. These forward-looking statements should be evaluated together with additional information about UnitedAuto's business, markets, conditions and other uncertainties, which could affect UnitedAuto's future performance, which are contained in UnitedAuto's Form 10-K for the year ended December 31, 2004, and its other filings with the Securities and Exchange Commission and which are incorporated into this press release by reference. This press release speaks only as of its date, and UnitedAuto disclaims any duty to update the information herein.
CONTACT: UnitedAuto Group, Inc. Jim Davidson, 201-325-3303 Executive Vice President - Finance email@example.com or Tony Pordon, 248-648-2540 Vice President - Investor Relations firstname.lastname@example.org SOURCE: UnitedAuto Group, Inc.