BLOOMFIELD HILLS, Mich., May 19, 2005 (BUSINESS WIRE) -- UnitedAuto Group, Inc. (NYSE:UAG), a FORTUNE 500
automotive specialty retailer, has acquired a HUMMER franchise in New
Jersey. The new dealership will be located at UnitedAuto's
Turnersville Automall, which now offers ten brands: Acura, BMW,
Chevrolet, Honda, HUMMER, Hyundai, Maserati, Nissan, Scion and Toyota.
UnitedAuto's Turnersville Automall, currently under development,
will be a new, state-of-the-art automotive retail complex covering 60
acres along Black Horse Pike in the fast growing Philadelphia/Southern
New Jersey metro area. New facilities are being constructed for each
brand, which will offer customers the latest in vehicle sales and
service convenience. Customers will be able to experience on- and
off-road test track facilities where they can fully explore vehicle
capabilities. A brand-new, 50,000-square-foot collision center is
already completed and offers a full range of collision and detail
HUMMER of Turnersville will offer a full line of vehicles, from
the one-of-a-kind H1 to the all new H3. Commenting on the acquisition,
Roger S. Penske, Jr., Executive Vice President of UnitedAuto's East
Operations, said, "The addition of the HUMMER franchise in
Turnersville adds another great brand to our existing offerings in
this premier location. We are excited to partner with General Motors
and the HUMMER brand as the new H3 is being introduced."
The HUMMER franchise in Turnersville represents UnitedAuto's fifth
HUMMER franchise in the United States and is estimated to add
approximately $25 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 150 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
SOURCE: UnitedAuto Group, Inc.
UnitedAuto Group, Inc.
Jim Davidson, 201-325-3303
Tony Pordon, 248-648-2540