Lithia & Driveway (LAD) Enters South Florida with the Addition of Two Audi Stores
11/16/2021 - 07:15 AM
MEDFORD, Ore. , Nov. 16, 2021 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced today their entrance into South Florida with the addition of Audi Fort Lauderdale and Audi Coral Springs. The Florida stores dramatically increase LAD's luxury footprint in the Southeast Region and together are expected to generate $275 million
The Audi Coral Springs dealership boasts the world's largest Audi showroom, an impressive 66,000 square feet, and is easily accessible off Florida highways. These well positioned stores will bring LAD one step closer to servicing consumer vehicles within a 100-mile radius anywhere in the country.
"We are excited to welcome these two high performing stores to our Lithia & Driveway family," said Bryan DeBoer , Lithia & Driveway's President, and CEO. Like us, the stores' roots run deep in the communities they serve. By joining forces, we are able to expand our omni-channel network and strengthen our luxury offerings in one of the top U.S. markets." said DeBoer.
The addition of Audi Fort Lauderdale and Audi Coral Springs brings LAD's total expected annualized revenue acquired in 2021 to $6.5 billion . The company is pacing to exceed its 5-year plan, announced in July 2020, to reach $50 billion in revenue and $50 of earnings per share. These acquisitions were financed using existing on-balance sheet capacity.
About Lithia & Driveway (LAD):
LAD is a growth company powered by people and innovation with a plan to profitably consolidate the largest retail sector in North America. As the leading provider of personal transportation solutions in North America, LAD is among the fastest-growing companies in the Fortune 500 and is currently ranked #231 (#2 on 10-Year EPS Growth, #3 on 10-Year TSR and #12 on 10-year Revenue growth in 2021). By providing a wide array of products and services for the entire vehicle ownership lifecycle through various consumer channels, LAD builds magnetic brand loyalty. Operational excellence is achieved by focusing the business on convenient and transparent consumer experiences supported by proprietary data science to improve market share, consumer loyalty and profitability. LAD's omni-channel strategy will continue to pragmatically disrupt the industry by leveraging experienced teams, vast owned inventories, technology, and physical network. LAD continues to lead the industry's consolidation, and this combined with Driveway's e-commerce in-home experiences, further accelerates the massive regenerating capital engine. Together, these endeavors create a unique and compelling high-growth strategy that provides transportation solutions wherever, whenever, and however consumers desire.
Sites: www.lithiainvestorrelations.com www.lithia.com www.driveway.com www.lithiacareers.com
Lithia & Driveway on Facebook https://www.facebook.com/LithiaMotors https://www.facebook.com/DrivewayHQ
Lithia & Driveway on Twitter https://twitter.com/LithiaMotors https://twitter.com/DrivewayHQ
https://www.prnewswire.com/news-releases/lithia--driveway-lad-enters-south-florida-with-the-addition-of-two-audi-stores-301425191.html
SOURCE Lithia Motors, Inc.
LAD Rankings
#926 Ranked by Stock Gains
LAD Stock Data
Industry
New Car Dealers
Sector
Retail Trade
Tags
Retail Trade, Specialty Stores, New Car Dealers
Country
US
City
Medford
About LAD
at lithia our success is driven by a passion for cars and for serving our customers. lithia auto stores is one of the largest and most trusted automotive retailers in the u.s., providing outstanding sales, service, parts, and auto financing to urban and rural customers in 14 states. lithia’s road to success has taken us from a single dealership in ashland, oregon to a publicly traded company with approximately 130 locations. join an auto retailer that believes our growth relies on the growth of our people. members of team lithia get the tools they need to succeed, including ongoing training in a promote-from-within culture. our early beginnings were the road map leading us to a present day. a journey filled with healthy challenges and exciting opportunities. we’re a company that believes in our core values and living them through personal ownership, an entrepreneurial spirit, high standards and best practices, while thriving in a dynamic work place. come “take the journey with us
