BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--July 7, 2004--UnitedAuto
Group, Inc. (NYSE:UAG), a FORTUNE 500 automotive specialty retailer,
today announced the acquisition of the Aston Green retail group in the
United Kingdom, making UnitedAuto the largest partner with Audi in the
The Aston Green portfolio includes four dealerships in central and
western London, England in the cities of Brentford, Guildford, Reading
and Slouth, as well as a sales-only site in Mayfair and a separate
service site in Victoria. The Aston Green dealerships have projected
annual revenue of approximately $150 million.
Commenting on the acquisition, UnitedAuto Chairman Roger Penske
said, "We are excited about this new opportunity to represent the Audi
brand in the United Kingdom. Aston Green has built the largest market
area for the Audi brand in this market, and our acquisition will
further diversify our premium and luxury footprint in the United
UnitedAuto, which has pursued a strategy based on internal growth
from its existing dealerships, as well as from strategic acquisitions,
operates 139 franchises in the United States and 98 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 expansion plans. 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, 2003 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
Tony Pordon, 248-648-2540
SOURCE: UnitedAuto Group, Inc.