BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Feb. 2, 2005--United
Auto Group, Inc. (NYSE:UAG), a FORTUNE 500 automotive specialty
retailer, has acquired Lanier Honda in Gwinnett County, Georgia.
Located in the northeast Atlanta metro area, along the rapidly growing
Interstate 85 corridor, UAG's newest Honda franchise will be renamed
Honda Mall of Georgia.
Commenting on the acquisition, Roger Penske, Jr., Executive Vice
President of UnitedAuto's East Operations, said, "Lanier Honda is a
tremendous acquisition for UAG. Its proximity near one of the
Southeast's largest regional shopping complexes provides an
outstanding location for sales and service as UnitedAuto expands its
presence in the Atlanta metro area."
The Honda Mall of Georgia represents UnitedAuto's 14th Honda
franchise in the United States and is estimated to add approximately
$80 million in annualized revenues to UnitedAuto Group.
UnitedAuto, which has pursued a strategy based on internal growth
from its existing dealerships, as well as from strategic acquisitions,
operates 152 franchises in the United States and 101 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, 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
CONTACT: United Auto Group, Inc.
Jim Davidson, 201-325-3303
Tony Pordon, 248-648-2540
SOURCE: United Auto Group, Inc.