Lithia Motors, Inc. operates Lithia & Driveway as a global automotive retailer serving the vehicle ownership lifecycle through physical dealerships, e-commerce platforms, captive finance solutions, fleet management offerings, and related adjacencies. Company news commonly covers new and used vehicle sales, same-store trends, aftersales performance, Driveway Finance Corporation activity, and capital allocation through dividends and share repurchases.
Recurring developments also include dealership acquisitions across core volume and luxury brands, preferred partner technology deployments for store operations, earnings release schedules, and community or workforce initiatives tied to automotive technician programs.
Lithia Motors (NYSE: LAD) acquired four Kia and Hyundai dealerships in Memphis from Gossett Motor Cars, with Kerrigan Advisors representing the seller. The completed transaction includes Gossett Kia, Gossett Hyundai, Gossett Kia South and Gossett Hyundai South and more than doubles Lithia’s presence in Memphis.
The dealerships represent two of the three Kia locations and two of the four Hyundai locations in the Memphis metropolitan area. They are situated on Covington Pike and Mt. Moriah Road. Gossett said the sale allows its team to focus on its remaining eight dealerships.
For Kerrigan Advisors, the transaction brings its total to 474 franchises sold since 2014, including 156 in the South. The firm has sold 32 franchises in the South over the last four months. It also represented Sunrise Auto Group in a Memphis dealership sale to Lithia in 2024.
Lithia & Driveway (NYSE: LAD) reported third-quarter 2026 diluted earnings per share of $13.22, up 54% year over year. Revenue increased 2.8% to $9,946.7 million, while net income rose 34.0% to $292.9 million. Adjusted diluted earnings per share increased 9% to $10.34, but adjusted net income declined 5% to $229.3 million; adjustments excluded an unrealized Pinewood Technologies investment gain and other non-core items.
Same-store revenue fell 1.4%, and operating income declined 0.3%. Financing operations income increased 69.1% to $32.3 million. The quarterly dividend rose 7% to $0.75 per share, with payment expected November 20 to holders of record November 6, 2026. Quarterly repurchases totaled $85 million. October acquisitions added four Memphis dealerships with expected annualized revenue of $250 million. Available liquidity was approximately $1.4 billion at quarter-end.
Lithia & Driveway (LAD) has promoted Katie Macaddino to Chief People Officer, continuing her leadership of its global People & Culture organization. She will serve on the senior leadership team, overseeing people strategy, culture, leadership development, total rewards, employee experience and people systems. Macaddino brings more than 20 years of business and people leadership experience, including 15 years at Intel.
Lithia & Driveway (LAD) will release its third-quarter 2026 results before the market opens on October 21, 2026. A conference call to discuss the results is scheduled for 10:00 a.m. Eastern Time that day.
Lithia & Driveway (LAD) acquired Rockwall Hyundai in Rockwall, Texas, adding an estimated $75 million in annualized revenue.
The dealership expands LAD’s presence in the Dallas-Fort Worth market and increases network density within its broader Texas platform, which already serves drivers in Houston, Austin, Corpus Christi, San Antonio, West Texas and other communities. With this transaction, LAD’s total year-to-date expected annualized revenue from acquired stores rises to $915 million. The Rockwall Hyundai acquisition was funded using existing on-balance sheet capacity.
During the quarter, LAD repurchased approximately 108,000 shares for $40 million at a weighted average price of $375, equal to 0.46% of outstanding shares. Year-to-date, it has repurchased about 1.9 million shares for $541 million at an average price of $284, representing 8.1% of outstanding shares. LAD reports that $580 million remains available under its current share repurchase authorization.
Lithia & Driveway (NYSE: LAD) is investing $500,000 in more than 200 youth and community nonprofits across the U.S. through its Lithia4Kids Community Giving Grants. The 2026 grants support schools, children’s hospitals and youth enrichment organizations, with presentations taking place in multiple regions and additional awards planned through year-end.
Lithia & Driveway received nearly 375 applications and selected recipients based on three pillars: education, advocacy and youth support. Grant submissions for the next cycle will be open from November 1–30, 2026 via the Lithia4Kids website.
Lithia & Driveway (NYSE: LAD) appointed Scott Cooke/b as Operations President, adding more than 25 years of experience from Toyota Financial Services, where he most recently served as President and CEO overseeing over in managed assets. In his new role, he will lead performance across Southeastern and South Central Store Operations, Driveway Finance Corporation (DFC), and Finance & Insurance, aligning operations, finance, and people strategies. Cooke joins existing Operations Presidents Mike Cavanaugh, Bryan Osterhout and Neil Williamson, while current DFC leader Chuck Lietz prepares to retire in 2027, reflecting LAD’s focus on leadership depth and its Growth Powered by People strategy.
Lithia & Driveway (NYSE: LAD) reported that it has been named to the Fortune Global 500 for the second straight year, advancing to No. 426 from No. 434. The 2025 ranking is based on $38.1 billion in revenue, a 4.2% year-over-year increase, generated by more than 30,800 team members across North America and the United Kingdom.
According to the company, its omnichannel automotive retail ecosystem integrates vehicle sales, financing, service, and digital retail. Lithia & Driveway describes itself as the largest global automotive retailer and is celebrating 80 years in business in 2026.
Lithia & Driveway (NYSE: LAD) reported record second quarter 2026 revenues of $9.8 billion, up 2% year over year. Diluted EPS rose 17% to $11.54, while adjusted diluted EPS increased 9% to $10.03. Net income was $261.6 million, up 1.3%, though adjusted net income declined 6% to $227.6 million after excluding unrealized gains and other non-core items.
Used retail gross profit per unit increased $339 (20%) sequentially, and aftersales gross margin expanded 120 basis points on a same-store basis. Finance operations income reached a record $36.5 million, up 81.6%. The Board approved a 23% dividend increase to $0.70 per share, payable August 21, 2026. LAD repurchased $242 million of stock (3.7% of shares) in the quarter and expanded its repurchase authorization, leaving about $620 million available. For the first half of 2026, revenue grew 2% to $19.1 billion, while GAAP diluted EPS declined 12% and adjusted diluted EPS rose 1%.
NACD North Texas announced its 2026–2027 slate of officers and new board members, effective July 1, 2026. Debra L. von Storch was elected board chair, with Anne Motsenbocker as vice chair, Todd Murray continuing as secretary, and Derek McClain serving as treasurer.
New board members are Beth Garvey, former chair, president, and CEO of BGSF (NYSE: BGSF); Dr. Helmuth Ludwig, former Siemens Global CIO and current multi‑company director; Cassandra McKinney, independent director at Lithia & Driveway (NYSE: LAD); and Dan Torpey, senior managing director at Ankura and experienced audit and risk advisor. According to NACD North Texas, these leaders bring expertise spanning audit, compensation, governance, digital transformation, risk oversight, and membership engagement to support more than 1,000 chapter members.