United Auto Group (UAG) Germany GmbH forms a 50/50 joint venture with German auto retailer Werner Nix, with annual revenue expected to reach $38 million.

Under terms of the agreement, UAG will operate the Toyota and Lexus franchises in Frankfurt and Offenbach/Wachtersbach, Germany. The JV recently won an open point for Toyota and Lexus in the Frankfurt market. Nix, which currently operates the outlets in Offenbach and Wachtersbach, will oversee operations in Frankfurt. The dealerships will be named Autohaus NIX GmbH.