USA :UnitedAuto Group, Penske Automotive Group, CarsDirect.com Form Alliance For Vehicle Sourcing, Expedited Fulfillment
UnitedAuto Group and Penske Automotive Group to Take Equity Stake in Leading On-line Auto Provider; Roger Penske to Join CarsDirect.com Board of Directors UnitedAuto Group, Inc. (NYSE: UAG), a leading publicly-traded automobile retailer, and Penske Automotive Group, Inc. today announced a strategic alliance with CarsDirect.com , a leading direct on-line automotive provider. In major parts of the United States, the alliance is expected to enhance the on-line based sale, distribution and service of vehicles by UnitedAuto and the Penske Automotive Group, which have combined annual revenues of over $5 billion. The alliance enables CarsDirect.com to serve its customers locally and more conveniently with UnitedAuto's and Penske Automotive Group's expedited vehicle fulfillment and comprehensive customer service capabilities. The organizations intend to jointly build an automated transaction system that links the companies in a streamlined and ultimately "real time" vehicle sourcing and fulfillment solution.
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