smart USA Announces Pricing of smart fortwo Models
Innovative and Unique Vehicle to Go on Sale January
2008
BLOOMFIELD HILLS, MI, (Sept. 5, 2007) – smart
USA Distributor LLC, a subsidiary of Penske Automotive Group,
Inc., (NYSE: PAG), today announced the pricing of the all-new
smart fortwo models that will be sold in the United States
beginning in the first quarter of 2008.
The smart fortwo will be available in three trim levels.
The entry-level pure coupe will start at $11,590*, manufacturer’s
suggested retail price (MSRP), with standard convenience features
such as a 5-speed transmission that allows drivers to switch
between automatic and manual driving modes with the push of
a button, central remote locking system, 2-spoke leather steering
wheel, and a radio-ready console. The well-equipped passion
coupe, starting at $13,590* MSRP, includes a panorama roof,
alloy wheels, air conditioning with climate control, 3-spoke
leather sports steering wheel with gear shift paddles, power
windows, electric and heated side mirrors, and an AM/FM radio
with CD player, all standard. Those seeking top-down excitement
can choose the passion cabriolet, starting at $16,590* MSRP,
featuring a fully automatic soft top that can be easily adjusted
with a push of a button, and in addition to the standard equipment
of the passion coupe, a premium sound system with an in-dash
mp3 compatible 6-CD changer. The value-priced cabrioletlet model
is believed to debut as the lowest priced convertible offered
in the United States. All models are equipped with a 1-liter,
3-cylinder, 71-horsepower engine.
“The smart fortwo offers a fantastic combination of
fun to drive aspects, innovation, functionality – and
all for a great value,” said Dave Schembri, president
of smart USA. “In addition, all smart fortwo models
will come standard with four air bags and many other safety
features found in many luxury vehicles.”
An optional “comfort package” for the passion
coupe and passion cabriolet, at $850* MSRP, includes leather
heated seats, electric power steering, rain/light sensors,
and auto-off headlamps with exit delay.
Information about many other vehicle accessories and option
pricing can be found on the smart USA website – www.smartusa.com.
ABOUT smart and smart USA
The smart fortwo is manufactured by the Mercedes Car Group.
This technologically advanced vehicle has been designed to
achieve 40-plus mpg under normal driving conditions. The vehicle
is 8.8 feet long, 5.1 feet tall and 5.1 feet wide and comes
equipped with many standard functional and safety features
such as electronic stability program, anti-lock brakes and
four air bags. The smart dealer network will be announced
in the fall 2007. smart is currently sold in 36 countries,
and over 800,000 smart fortwos have been sold since 1998.
smart USA Distributor LLC, headquartered in Bloomfield Hills,
Michigan, is the exclusive distributor of the smart fortwo
in the United States and Puerto Rico and is a wholly-owned
subsidiary of Penske Automotive Group, Inc.
ABOUT PENSKE AUTOMOTIVE GROUP
Penske Automotive Group, Inc., headquartered in Bloomfield
Hills, Mich., operates 311 retail automotive franchises, representing
41 different brands, and 27 collision repair centers. Penske
Automotive Group, which sells new and previously owned vehicles,
finance and insurance products and replacement parts, and
offers maintenance and repair services on all brands it represents,
has 164 franchises in 19 states and Puerto Rico and 147 franchises
located outside the United States, primarily in the United
Kingdom. Penske Automotive Group is a member of the Fortune
500 and Russell 1000 and has approximately 16,000 employees.
Statements in this press release may involve forward-looking
statements. Actual results may vary materially because of
risks and uncertainties, including production delays, delays
in developing a dealership network and 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 Penske Automotive Group's business,
markets, conditions and other uncertainties that could affect
Penske Automotive Group’s future performance, which
are contained in Penske Automotive Group's Form 10-K for the
year ended December 31, 2006, 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 Penske Automotive Group disclaims
any duty to update the information herein.
* Expected prices exclude tax, license, registration, destination
charge and options.
