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UnitedAuto Group Buys German Auto Dealer, Autohaus Augsburg

August 24, 2006

DETROIT — UnitedAuto Group Inc. has recently bought a controlling interest in Autohaus Augsburg, one of Germany's largest BMW dealers, reported Automotive News. Autohaus Augsburg has five outlets that sold about 5,000 new and used vehicles last year.

Tony Pordon, UnitedAuto's senior vice president for investor relations, said the suburban Detroit company is investing in Germany due to the fact that it’s Europe's largest auto market and a major source of premium-vehicle sales.

UnitedAuto operates 296 retail automotive franchises globally, including 123 franchises outside the United States, mainly in the United Kingdom. Approximately 30 percent of the company's revenues come from Europe.

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