{"id":501674,"date":"2021-06-08T07:18:21","date_gmt":"2021-06-08T11:18:21","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/lithia-motors-driveway-lad-adds-185-million-of-revenue\/"},"modified":"2021-06-08T07:18:21","modified_gmt":"2021-06-08T11:18:21","slug":"lithia-motors-driveway-lad-adds-185-million-of-revenue","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lithia-motors-driveway-lad-adds-185-million-of-revenue\/","title":{"rendered":"Lithia Motors & Driveway (LAD) Adds $185 Million of Revenue"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n MEDFORD, Ore.<\/span>, June 8, 2021<\/span> \/PRNewswire\/ — Lithia Motors & Driveway (NYSE: LAD) announced today the acquisition of two locations in Van Nuys, California<\/span>, serving the greater Los Angeles<\/span> area. BMW of Sherman Oaks<\/span> and Acura of Sherman Oaks<\/span> are expected to generate combined annualized revenues of $185 million<\/span>.<\/p>\n

\n

\n
\n \"Lithia
\n <\/a>\n <\/p>\n<\/p><\/div>\n

“We\u00a0welcome\u00a0the\u00a0BMW\u00a0of Sherman Oaks\u00a0and Acura\u00a0of Sherman Oaks\u00a0teams\u00a0to the LAD family,” said Bryan DeBoer<\/span>, Lithia & Driveway’s President and CEO.\u00a0“We are excited to add our first BMW\u00a0store\u00a0in Southern California\u00a0and capture the\u00a0significant\u00a0potential\u00a0that exists.”<\/p>\n

LAD has\u00a0acquired\u00a0nearly\u00a0$7.1\u00a0billion\u00a0in annualized\u00a0revenues since\u00a0the launch of its five-year plan\u00a0to reach\u00a0$50 billion\u00a0in revenues and $50<\/span> in earnings per share\u00a0just under a year ago.\u00a0This growth has been focused\u00a0primarily in the Southeast and Central regions where\u00a0their\u00a0network density is lightest.\u00a0LAD has a\u00a0robust\u00a0pipeline\u00a0of\u00a0over\u00a0$15 billion\u00a0in annualized revenues\u00a0in discussion and priced to meet\u00a0their\u00a0disciplined hurdle rates.\u00a0“We are\u00a0well\u00a0ahead of schedule\u00a0on\u00a0the network development portion of our\u00a0five-year plan.\u00a0Our network is essential\u00a0to\u00a0conveniently\u00a0and affordably\u00a0meet the needs of our customers\u00a0throughout\u00a0their entire\u00a0vehicle ownership lifecycle.”\u00a0This\u00a0value-based\u00a0transaction\u00a0was financed using existing on-balance sheet\u00a0capacity.<\/p>\n

\n About Lithia Motors & Driveway:
<\/b>Lithia Motors & Driveway is a growth company powered by people and innovation with a 5-year plan to profitably consolidate the largest retail sector in the country. They are a leading provider of personal transportation solutions in the United States<\/span> and are\u00a0among the fastest-growing companies in the Fortune 500 (#6\u00a0on 10-Year EPS Growth, #4\u00a010-Year TSR in 2020).\u00a0By providing a wide array of products throughout the entire lifecycle of the consumer’s vehicle ownership experience through various consumer channels, they build magnetic brand loyalty. Operational excellence is achieved by focusing the business on convenient and transparent consumer experiences supported by proprietary data science to increase market share, consumer loyalty and team performance. Lithia’s omni-channel strategy will continue to pragmatically disrupt the industry by leveraging experienced teams, vast owned inventories, technology, and physical network. By purchasing strong businesses, they further strengthen this network, leveraging their national digital home channel Driveway and building upon 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.<\/p>\n

\n Company Websites<\/b>\u00a0
www.lithiamotors.com\u00a0
<\/a>www.lithiainvestorrelations.com\u00a0
<\/a>www.lithiacareers.com\u00a0
<\/a>www.driveway.com<\/a><\/p>\n

\n Lithia Motors on Facebook<\/b>\u00a0
https:\/\/www.facebook.com\/LithiaMotors<\/a><\/p>\n

\n Lithia Motors on Twitter<\/b>\u00a0
https:\/\/twitter.com\/lithiamotors<\/a><\/p>\n

\u00a0<\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/lithia-motors–driveway-lad-adds-185-million-of-revenue-301307493.html<\/a><\/p>\n

SOURCE Lithia Motors, Inc.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire MEDFORD, Ore., June 8, 2021 \/PRNewswire\/ — Lithia Motors & Driveway (NYSE: LAD) announced today the acquisition of two locations in Van Nuys, California, serving the greater Los Angeles area. BMW of Sherman Oaks and Acura of Sherman Oaks are expected to generate combined annualized revenues of $185 million. “We\u00a0welcome\u00a0the\u00a0BMW\u00a0of Sherman Oaks\u00a0and Acura\u00a0of Sherman Oaks\u00a0teams\u00a0to the LAD family,” said Bryan DeBoer, Lithia & Driveway’s President and CEO.\u00a0“We are excited to add our first BMW\u00a0store\u00a0in Southern California\u00a0and capture the\u00a0significant\u00a0potential\u00a0that exists.” LAD has\u00a0acquired\u00a0nearly\u00a0$7.1\u00a0billion\u00a0in annualized\u00a0revenues since\u00a0the launch of its five-year plan\u00a0to reach\u00a0$50 billion\u00a0in revenues and $50 in earnings per share\u00a0just under a year ago.\u00a0This growth has been focused\u00a0primarily in the Southeast and Central regions where\u00a0their\u00a0network density is lightest.\u00a0LAD has a\u00a0robust\u00a0pipeline\u00a0of\u00a0over\u00a0$15 billion\u00a0in … <\/p>\n

Continue reading “Lithia Motors & Driveway (LAD) Adds $185 Million of Revenue”<\/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-501674","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nLithia Motors & Driveway (LAD) Adds $185 Million of Revenue - 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\/lithia-motors-driveway-lad-adds-185-million-of-revenue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lithia Motors & Driveway (LAD) Adds $185 Million of Revenue - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire MEDFORD, Ore., June 8, 2021 \/PRNewswire\/ — Lithia Motors & Driveway (NYSE: LAD) announced today the acquisition of two locations in Van Nuys, California, serving the greater Los Angeles area. BMW of Sherman Oaks and Acura of Sherman Oaks are expected to generate combined annualized revenues of $185 million. “We\u00a0welcome\u00a0the\u00a0BMW\u00a0of Sherman Oaks\u00a0and Acura\u00a0of Sherman Oaks\u00a0teams\u00a0to the LAD family,” said Bryan DeBoer, Lithia & Driveway’s President and CEO.\u00a0“We are excited to add our first BMW\u00a0store\u00a0in Southern California\u00a0and capture the\u00a0significant\u00a0potential\u00a0that exists.” LAD has\u00a0acquired\u00a0nearly\u00a0$7.1\u00a0billion\u00a0in annualized\u00a0revenues since\u00a0the launch of its five-year plan\u00a0to reach\u00a0$50 billion\u00a0in revenues and $50 in earnings per share\u00a0just under a year ago.\u00a0This growth has been focused\u00a0primarily in the Southeast and Central regions where\u00a0their\u00a0network density is lightest.\u00a0LAD has a\u00a0robust\u00a0pipeline\u00a0of\u00a0over\u00a0$15 billion\u00a0in … Continue reading "Lithia Motors & Driveway (LAD) Adds $185 Million of Revenue"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/lithia-motors-driveway-lad-adds-185-million-of-revenue\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-08T11:18:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1476804\/Lithia_Driveway_Combo_FINAL_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lithia-motors-driveway-lad-adds-185-million-of-revenue\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lithia-motors-driveway-lad-adds-185-million-of-revenue\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Lithia Motors & Driveway (LAD) Adds $185 Million of Revenue\",\"datePublished\":\"2021-06-08T11:18:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lithia-motors-driveway-lad-adds-185-million-of-revenue\\\/\"},\"wordCount\":445,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lithia-motors-driveway-lad-adds-185-million-of-revenue\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/1476804\\\/Lithia_Driveway_Combo_FINAL_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lithia-motors-driveway-lad-adds-185-million-of-revenue\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lithia-motors-driveway-lad-adds-185-million-of-revenue\\\/\",\"name\":\"Lithia Motors & Driveway (LAD) Adds $185 Million of Revenue - 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BMW of Sherman Oaks and Acura of Sherman Oaks are expected to generate combined annualized revenues of $185 million. “We\u00a0welcome\u00a0the\u00a0BMW\u00a0of Sherman Oaks\u00a0and Acura\u00a0of Sherman Oaks\u00a0teams\u00a0to the LAD family,” said Bryan DeBoer, Lithia & Driveway’s President and CEO.\u00a0“We are excited to add our first BMW\u00a0store\u00a0in Southern California\u00a0and capture the\u00a0significant\u00a0potential\u00a0that exists.” LAD has\u00a0acquired\u00a0nearly\u00a0$7.1\u00a0billion\u00a0in annualized\u00a0revenues since\u00a0the launch of its five-year plan\u00a0to reach\u00a0$50 billion\u00a0in revenues and $50 in earnings per share\u00a0just under a year ago.\u00a0This growth has been focused\u00a0primarily in the Southeast and Central regions where\u00a0their\u00a0network density is lightest.\u00a0LAD has a\u00a0robust\u00a0pipeline\u00a0of\u00a0over\u00a0$15 billion\u00a0in … Continue reading \"Lithia Motors & Driveway (LAD) Adds $185 Million of Revenue\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/lithia-motors-driveway-lad-adds-185-million-of-revenue\/","og_site_name":"Market Newsdesk","article_published_time":"2021-06-08T11:18:21+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1476804\/Lithia_Driveway_Combo_FINAL_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lithia-motors-driveway-lad-adds-185-million-of-revenue\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lithia-motors-driveway-lad-adds-185-million-of-revenue\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Lithia Motors & Driveway (LAD) Adds $185 Million of Revenue","datePublished":"2021-06-08T11:18:21+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lithia-motors-driveway-lad-adds-185-million-of-revenue\/"},"wordCount":445,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lithia-motors-driveway-lad-adds-185-million-of-revenue\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1476804\/Lithia_Driveway_Combo_FINAL_Logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lithia-motors-driveway-lad-adds-185-million-of-revenue\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/lithia-motors-driveway-lad-adds-185-million-of-revenue\/","name":"Lithia Motors & Driveway (LAD) Adds $185 Million of Revenue - 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