Price Attack Pt.VII: 2008 Smart ForTwo starts at $11,590

Smart USA has announced the official pricing and the trim designations for its first offering in the country. Having met enormous success in Canada when it entered market in 2006, Smart has opened its doors to the American folks. Smart launched an online reservation program for the ForTwo, with 12,000 orders being placed. The ForTwo will start at $11,590.

Available in three trim levels, all models come standard with a 3-cylinder 1.0L engine that produces 71 horsepower. The Canadian models receive the 0.6L diesel with 40 horsepower. The base model, starting at $11,590, comes standard with a 5-speed automatic transmission. You'll have to step up to the Passion Coupe model, starting at $13,590, for an AM/FM radio with CD. The Passion also comes standard with a panorama roof, air conditioning, 3-spoke leather-wrapped sport steering wheel with paddle shifts, power windows and alloy wheels. The Passion Cabrio starts at $16,590, gaining the status of the least expensive convertible in America. The Cabrio comes standard with an automatic soft-top roof and a premium sound system.

The Passion trims can be opted with a Comfort Package that starts at $850. Heated leather seats, electric power steering, rain/light sensors and auto-off headlamps all come standard. The 2008 Smart ForTwo will go on sale in January 2008. It will be available in all 164 locations of the Penske Automotive Group, the dealer franchise responsible for selling the Smarts. Continue reading to view an official press release.

PRESS RELEASE:

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 cabrio, 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 cabriolet 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 cabrio, 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 – http://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.

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