On the occasion of surpassing the $1 billion mark in upgrading and expanding its 294-dealership network, UnitedAuto Group chose the site of its most lavish store for its annual shareholders meeting this month.
The meeting will be at the new Wynn Las Vegas resort hotel, where the Penske-Wynn Ferrari Maserati dealership is located. The dealership bears the name of Las Vegas hotel and casino proprietor Steve Wynn and Roger S. Penske, chairman and CEO of UnitedAuto Group.
Last year's meeting was at company headquarters in Bloomfield Hills, MI.
UAG has 171 dealerships in the U.S., plus 113 in the United Kingdom, 14 in Germany and one in Mexico. It is the second largest dealership chain in the U.S.
Two more UAG dealership malls will be completed this year — in Turnersville, NJ, near Philadelphia, and Warwick, RI.
Approximately 90% of UAG's total revenue in 2005 came from by foreign vehicle brands. Penske says UAG has the highest concentration of revenues from foreign and premium brands among the publicly owned dealership groups.