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Press Release

UnitedAuto Acquires Moran Cadillac in Torrance, California

BLOOMFIELD HILLS, Mich., Jan 23, 2004 (BUSINESS WIRE) -- UnitedAuto Group, Inc. (NYSE:UAG), a FORTUNE 500 automotive specialty retailer, today announced that it has acquired Moran Cadillac located in Torrance, California. The newly acquired dealership will be renamed Penske Cadillac South Bay. This dealership is expected to generate approximately $30 million in revenue on an annual basis.

Roger Penske, Chairman of UnitedAuto commented, "We are delighted with the opportunity to represent General Motors' premier brand in the South Bay area of Los Angeles County. The Cadillac brand, with its many new products, represents an exciting opportunity for UnitedAuto in this market. With this acquisition, UnitedAuto now operates 23 General Motors' franchises in North America."

UnitedAuto, which has pursued a strategy based on internal growth from its existing dealerships, as well as from strategic acquisitions, operates 138 franchises in the United States and 83 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's anticipated financial results. 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, 2002 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.

SOURCE: UnitedAuto Group, Inc.

CONTACT:          UnitedAuto Group, Inc.
                  Jim Davidson, 201-325-3303
                  jdavidson@unitedauto.com
                  or
                  Tony Pordon, 248-648-2540
                  tony.pordon@unitedauto.com

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SOURCE: UnitedAuto Group, Inc.