DETROIT, MI, January 16, 2001 - UnitedAuto Group, Inc. (NYSE: UAG), a leading publicly traded automotive retailer, today announced the appointment of Roger S. Penske, Jr. as President of its Mid-Atlantic Region (formerly the Midwest Region), effective immediately.
Mr. Penske, who will be responsible for all UnitedAuto operations in the region, has extensive experience in businesses related to heavy-duty diesel, retail automotive care, and franchised automobile sales and service.
The UnitedAuto Mid-Atlantic Region currently includes the states of Michigan, Ohio, Illinois, Indiana, Virginia, and Wisconsin. 2000 revenues from the dealership locations within the region are expected to total approximately $425 million on total new and used unit sales in excess of 14,500 vehicles. OEM brands currently represented in the region include Chevrolet, Dodge, Honda, Infiniti, Isuzu, Lincoln-Mercury, Mercedes-Benz, Oldsmobile, Cadillac, GMC, and Toyota. The Mid-Atlantic Region is based in Detroit, Michigan.
In commenting on the appointment, UnitedAuto President Sam DiFeo stated, "Roger has been responsible for leading several Penske affiliated operations to record-setting levels of sales, profitability, and guest satisfaction. The appointment of Roger to this position provides UnitedAuto with the opportunity to leverage his significant retail experience. He is a very talented automotive professional, and the Company will benefit greatly from his leadership abilities. We are delighted that he has decided to join the UnitedAuto team."
Roger S. Penske, Jr. and his family will be relocating from southern California to the Detroit area.
UnitedAuto, which has pursued a strategy based on internal growth from its existing dealerships, as well as from strategic acquisitions, operates 124 franchises in 17 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.