Lithia & Driveway's (LAD) Purchase of One of the Largest Stellantis Stores in Kentucky, Marks Entry into State
12/13/2022 - 07:10 AM
MEDFORD, Ore. , Dec. 13, 2022 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced today it has purchased its first location in Kentucky , expanding its retail footprint and presence in one of the strongest retail regions in the country.
"With the addition of Glenn's Freedom CDJR, we continue to build out our physical network and expand consumer optionality within our omni-channel strategy," said Bryan DeBoer , Lithia & Driveway President and CEO. "Their pursuit of excellence and performance-driven culture make them an ideal fit into the Lithia & Driveway family."
The store is projected to generate more than $140 million in annualized revenue. In 2022, LAD has acquired 33 stores that are expected to contribute annualized revenue of $3.5 billion . Acquisitions continue to be a key part of the company's 2025 Plan to reach $50 billion in revenue and $55 to $60 in EPS.
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
View original content to download multimedia:https://www.prnewswire.com/news-releases/lithia--driveways-lad-purchase-of-one-of-the-largest-stellantis-stores-in-kentucky-marks-entry-into-state-301701333.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