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Lithia & Driveway (LAD) Increases Share Repurchase Authorization by $450 Million

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MEDFORD, Ore., Nov. 1, 2022 /PRNewswire/ -- Lithia & Driveway (NYSE:LAD) announced today an increase of $450 million to its share repurchase authorization by its Board of Directors, bringing total funds available for future repurchases to approximately $500 million. 

"This announcement reflects our continued confidence in our long-term growth strategy and ability to consolidate the largest retail industry in the country," said Bryan DeBoer, Lithia & Driveway President and CEO. "Our capital allocation continues to remain focused on acquisitions and internal investments, such as Driveway and Driveway Finance, balanced with maintaining financial discipline and share repurchases to generate the highest long-term return for shareholders." 

Since the end of the third quarter, LAD has repurchased an additional, approximately, 175,000 shares for an average repurchase price of $198 per share. To date this year, LAD has repurchased over 2.4 million shares, or over 8% of outstanding shares, for an average price of $276 per share. 

About Lithia & Driveway (LAD): 

LAD is a growth company focused on profitably consolidating the largest retail sector in North America through providing personal transportation solutions wherever, whenever, and however consumers desire. 

Sites 
www.lithia.com 
www.investors.lithiadriveway.com 
www.lithiacareers.com 
www.driveway.com 
www.greencars.com 
www.drivewayfinancecorp.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://twitter.com/GreenCarsHQ 

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SOURCE Lithia Motors, Inc.

Lithia Motors, Inc.

NYSE:LAD

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New Car Dealers
Retail Trade
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Retail Trade, Specialty Stores, New Car Dealers
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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