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
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SOURCE Lithia Motors, Inc.