{"id":405299,"date":"2020-12-23T16:03:20","date_gmt":"2020-12-23T21:03:20","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=405299"},"modified":"2020-12-23T16:03:20","modified_gmt":"2020-12-23T21:03:20","slug":"lmp-automotive-holdings-inc-receives-general-motors-manufacturer-approval-for-certain-of-its-subsidiaries-as-it-relates-to-its-stage-1-southeast-acquisitions","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lmp-automotive-holdings-inc-receives-general-motors-manufacturer-approval-for-certain-of-its-subsidiaries-as-it-relates-to-its-stage-1-southeast-acquisitions\/","title":{"rendered":"LMP Automotive Holdings, Inc. Receives General Motors\u2019 Manufacturer Approval for Certain of its Subsidiaries as it Relates to its Stage 1 Southeast Acquisitions"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">FORT LAUDERDALE, Fla., Dec.  23, 2020  (GLOBE NEWSWIRE) &#8212; LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (the &#8220;Company&#8221; or \u201cLMP\u201d), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe to or finance pre-owned and new automobiles, today announced it has received General Motors\u2019 manufacturer approval for certain of its subsidiaries as it relates to its stage 1 Southeast acquisitions.<\/p>\n<p>Richard Aldahan, LMP\u2019s Chief Operating Officer, stated, \u201cAs of 2020, General Motors is ranked number 18 on the Fortune 500 list of the largest United States corporations by total revenue. We are honored to commence our relationship with General Motors and look forward to working together in representing its product lineup. I want to thank the General Motors team for its professionalism and confidence in LMP throughout this process. The approval is subject to customary closing conditions.\u201d<\/p>\n<p align=\"justify\">\n        <strong>ABOUT LMP AUTOMOTIVE HOLDINGS, INC. \u2013 \u201cBUY, SUBSCRIBE, SELL AND REPEAT.\u201d<\/strong><br \/>\n        <br \/>LMP Automotive Holdings, Inc. (NASDAQ: LMPX) describes its business model as \u201cBuy, Subscribe, Sell and Repeat.\u201d This means that we \u201cBuy\u201d pre-owned automobiles primarily through auctions or directly from other automobile dealers, and new automobiles from manufacturers and manufacturer distributors. We \u201cSubscribe\u201d the automobiles to our customers by allowing them to enter into our subscription plan for automobiles in which customers have use of an automobile for a minimum of thirty (30) days. LMP\u2019s vehicle subscription membership includes monthly swaps and offers the flexibility to return the vehicle without penalty, upgrade your vehicle to a more premium model or downgrade for a lesser cost model when you like. We \u201cSell\u201d our inventory, including automobiles previously included in our subscription programs, to customers as well, and then we \u201cRepeat\u201d the whole process.<\/p>\n<p>\n        <strong>Investor Relations:<\/strong><\/p>\n<p>LMP Automotive Holdings, Inc.<br \/>500 East Broward Boulevard, Suite 1900<br \/>Fort Lauderdale, FL 33394<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=W1C3d-lGRKynUFywBG2DKrPGnP05V1l13zRZhl8sYqiBrAnne98f2hp1eCKxU_Qxy2Nv9204pQIkAA7isBbrIYXOyCBKfsDrFqSP-VSE1yc=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">investors@lmpah.com<\/a>\u00a0<\/p>\n<p>For more information visit: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=RhOhaULt2LsVqK5fe2juXuoYxgnG1k0jsHfw4PJspJHI399VGdJnVJZSAuZ-K466ZAFQQRiRHgjDHJFzgj50uqlbfE1RKkHnfkh5oyKV-KQ=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/lmpmotors.com\/<\/a>.<\/p>\n<p align=\"justify\">FORWARD-LOOKING STATEMENTS:<br \/>This press release may contain \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Such statements include, but are not limited to, any statements relating to our expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar matters that are not historical facts. These statements may be preceded by, followed by or include the words \u201caim,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cforecast,\u201d \u201cintend,\u201d \u201clikely,\u201d \u201coutlook,\u201d \u201cplan,\u201d \u201cpotential,\u201d \u201cproject,\u201d \u201cprojection,\u201d \u201cseek,\u201d \u201ccan,\u201d \u201ccould,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201cwould,\u201d will,\u201d the negatives thereof and other words and terms of similar meanings. Forward-looking statements are based on management\u2019s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock value. Factors that could cause actual results to differ materially from those currently anticipated include: our dependence upon external sources for the financing of our operations; our ability to effectively executive our business plan; our ability to maintain and grow our reputation and to achieve and maintain the market acceptance of our services and platform; our ability to manage the growth of our operations over time; our ability to maintain adequate protection of our intellectual property and to avoid violation of the intellectual property rights of others; our ability to maintain relationships with existing customers and automobile suppliers, and develop relationships; and our ability to compete and succeed in a highly competitive and evolving industry; as well as other risks described in our SEC filings. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of this date. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.<\/p>\n<p align=\"justify\">\n        <strong>SOURCE: LMP Automotive Holdings, Inc.<\/strong>\n      <\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExNzI0NCMzODk1Mjc4IzUwMDA3NDkxOA==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/410aef34-e9e1-4df5-af80-b70beaba1f77\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>FORT LAUDERDALE, Fla., Dec. 23, 2020 (GLOBE NEWSWIRE) &#8212; LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (the &#8220;Company&#8221; or \u201cLMP\u201d), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe to or finance pre-owned and new automobiles, today announced it has received General Motors\u2019 manufacturer approval for certain of its subsidiaries as it relates to its stage 1 Southeast acquisitions. Richard Aldahan, LMP\u2019s Chief Operating Officer, stated, \u201cAs of 2020, General Motors is ranked number 18 on the Fortune 500 list of the largest United States corporations by total revenue. We are honored to commence our relationship with General Motors and look forward to working together in representing its product lineup. I want to thank the General Motors &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lmp-automotive-holdings-inc-receives-general-motors-manufacturer-approval-for-certain-of-its-subsidiaries-as-it-relates-to-its-stage-1-southeast-acquisitions\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;LMP Automotive Holdings, Inc. Receives General Motors\u2019 Manufacturer Approval for Certain of its Subsidiaries as it Relates to its Stage 1 Southeast Acquisitions&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-405299","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>LMP Automotive Holdings, Inc. Receives General Motors\u2019 Manufacturer Approval for Certain of its Subsidiaries as it Relates to its Stage 1 Southeast Acquisitions - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lmp-automotive-holdings-inc-receives-general-motors-manufacturer-approval-for-certain-of-its-subsidiaries-as-it-relates-to-its-stage-1-southeast-acquisitions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LMP Automotive Holdings, Inc. Receives General Motors\u2019 Manufacturer Approval for Certain of its Subsidiaries as it Relates to its Stage 1 Southeast Acquisitions - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"FORT LAUDERDALE, Fla., Dec. 23, 2020 (GLOBE NEWSWIRE) &#8212; LMP Automotive Holdings, Inc. (NASDAQ: LMPX) (the &#8220;Company&#8221; or \u201cLMP\u201d), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe to or finance pre-owned and new automobiles, today announced it has received General Motors\u2019 manufacturer approval for certain of its subsidiaries as it relates to its stage 1 Southeast acquisitions. Richard Aldahan, LMP\u2019s Chief Operating Officer, stated, \u201cAs of 2020, General Motors is ranked number 18 on the Fortune 500 list of the largest United States corporations by total revenue. We are honored to commence our relationship with General Motors and look forward to working together in representing its product lineup. I want to thank the General Motors &hellip; Continue reading &quot;LMP Automotive Holdings, Inc. 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(NASDAQ: LMPX) (the &#8220;Company&#8221; or \u201cLMP\u201d), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe to or finance pre-owned and new automobiles, today announced it has received General Motors\u2019 manufacturer approval for certain of its subsidiaries as it relates to its stage 1 Southeast acquisitions. Richard Aldahan, LMP\u2019s Chief Operating Officer, stated, \u201cAs of 2020, General Motors is ranked number 18 on the Fortune 500 list of the largest United States corporations by total revenue. We are honored to commence our relationship with General Motors and look forward to working together in representing its product lineup. I want to thank the General Motors &hellip; Continue reading \"LMP Automotive Holdings, Inc. Receives General Motors\u2019 Manufacturer Approval for Certain of its Subsidiaries as it Relates to its Stage 1 Southeast Acquisitions\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/lmp-automotive-holdings-inc-receives-general-motors-manufacturer-approval-for-certain-of-its-subsidiaries-as-it-relates-to-its-stage-1-southeast-acquisitions\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-23T21:03:20+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExNzI0NCMzODk1Mjc4IzUwMDA3NDkxOA==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lmp-automotive-holdings-inc-receives-general-motors-manufacturer-approval-for-certain-of-its-subsidiaries-as-it-relates-to-its-stage-1-southeast-acquisitions\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lmp-automotive-holdings-inc-receives-general-motors-manufacturer-approval-for-certain-of-its-subsidiaries-as-it-relates-to-its-stage-1-southeast-acquisitions\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"LMP Automotive Holdings, Inc. 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