UnitedAuto Group, Penske Automotive Group, CarsDirect.com form automotive alliance

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UnitedAuto Group and Penske Automotive Group formed a strategic alliance with CarsDirect.com, a direct online automotive provider, to enhance online-based sales, distribution and servicing of vehicles by UnitedAuto and Penske Automotive Group. CarsDirect.com will be able to reach customers locally through UnitedAuto's and Penske Automotive Group's vehicle fulfillment and comprehensive customer service capabilities. The partners will build an automated transaction system as part of the agreement. The $17 million investment in CarsDirect.com by the two dealer groups and other associated companies will place Roger S. Penske, chairman of UnitedAuto, on CarsDirect.com's board.

Copyright May 2000, Crain Communications Inc.

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