{"id":530755,"date":"2021-08-24T07:18:15","date_gmt":"2021-08-24T11:18:15","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/lithia-driveway-lad-further-expands-network-adding-170-million-in-revenue\/"},"modified":"2021-08-24T07:18:15","modified_gmt":"2021-08-24T11:18:15","slug":"lithia-driveway-lad-further-expands-network-adding-170-million-in-revenue","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lithia-driveway-lad-further-expands-network-adding-170-million-in-revenue\/","title":{"rendered":"Lithia & Driveway (LAD) Further Expands Network Adding $170 Million in Revenue"},"content":{"rendered":"
\n

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

\n

\n MEDFORD, Ore.<\/span>, Aug. 24, 2021<\/span> \/PRNewswire\/ — Lithia & Driveway (NYSE:\u00a0LAD)\u00a0today announced the acquisition of Rock Honda, a Top 20 Honda New Volume Dealer in the U.S. The purchase of this high-performing Honda dealership in the Inland Empire continues LAD’s fast-paced growth trajectory and expands the reach of its omni-channel network.<\/p>\n

\n

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

Rock Honda is located in Fontana, CA<\/span> and was the 16th<\/sup> largest New Volume Honda store in the nation in 2020. In addition to vehicle sales and service, Rock Honda is also licensed to provide customers with personal insurance as part of their consumer offerings.<\/p>\n

“We are excited to reach more consumers in the Southwest region and welcome the Rock Honda team to the Lithia & Driveway family.\u00a0This high-performing, customer-focused store expands our omni-channel network and introduces a new adjacency with personal insurance products, further complementing our ability to provide consumers transportation solutions wherever, whenever and however they desire,”\u00a0said Bryan DeBoer<\/span>, LAD\u00a0President and CEO. <\/p>\n

Rock Honda is expected to generate $170\u00a0million in annualized revenues, bringing LAD’s total expected annualized revenue acquired to date in 2021 to over $4.9 billion<\/span>. Lithia is pacing ahead of their 5-year plan\u00a0to achieve $50<\/span> in earnings per share (EPS) and $50 billion<\/span> in revenue by 2025.\u00a0This purchase was financed using an existing on-balance sheet capacity.\u00a0<\/p>\n

\n About Lithia & Driveway\u202f(LAD)<\/b>\u202f\u00a0<\/p>\n

LAD is a growth company powered by people and innovation with a 5-Year\u00a0Plan to profitably consolidate the largest retail sector in the country. As the leading provider of personal transportation solutions in the United States<\/span>, LAD is\u00a0among the fastest-growing companies in the Fortune\u00a0500\u00a0and is currently ranked #231\u00a0(#2\u00a0on 10-Year EPS Growth, #3\u00a0on 10-Year TSR and\u00a0#12 on 10-year Revenue growth\u00a0in 2021).\u00a0By providing a wide array of products and services for the entire vehicle-ownership lifecycle 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 improve market share, consumer loyalty and profitability. LAD’s omni-channel strategy will continue to pragmatically disrupt the industry by leveraging experienced teams, vast-owned inventories, technology, and physical network. Continuing to lead the industry’s consolidation and Driveway’s e-commerce, in-home experiences further accelerate the massive regenerating capital engine.\u00a0Together, these endeavors create a unique and compelling high-growth strategy that provides transportation solutions wherever, whenever, and however consumers desire.\u00a0\u00a0\u00a0<\/p>\n

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

\n Lithia & Driveway on Facebook<\/b>\u00a0
http:\/\/www.facebook.com\/LithiaMotors<\/a>\u00a0
http:\/\/www.facebook.com\/DrivewayHQ<\/a><\/p>\n

\n Lithia & Driveway on Twitter<\/b>\u00a0
http:\/\/twitter.com\/LithiaMotors<\/a>\u00a0
http:\/\/twitter.com\/DrivewayHQ<\/a><\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:https:\/\/www.prnewswire.com\/news-releases\/lithia–driveway-lad-further-expands-network-adding-170-million-in-revenue-301361238.html<\/a><\/p>\n

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

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

PR Newswire MEDFORD, Ore., Aug. 24, 2021 \/PRNewswire\/ — Lithia & Driveway (NYSE:\u00a0LAD)\u00a0today announced the acquisition of Rock Honda, a Top 20 Honda New Volume Dealer in the U.S. The purchase of this high-performing Honda dealership in the Inland Empire continues LAD’s fast-paced growth trajectory and expands the reach of its omni-channel network. Rock Honda is located in Fontana, CA and was the 16th largest New Volume Honda store in the nation in 2020. In addition to vehicle sales and service, Rock Honda is also licensed to provide customers with personal insurance as part of their consumer offerings. “We are excited to reach more consumers in the Southwest region and welcome the Rock Honda team to the Lithia & Driveway … <\/p>\n

Continue reading “Lithia & Driveway (LAD) Further Expands Network Adding $170 Million in 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-530755","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nLithia & Driveway (LAD) Further Expands Network Adding $170 Million in 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-driveway-lad-further-expands-network-adding-170-million-in-revenue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lithia & Driveway (LAD) Further Expands Network Adding $170 Million in Revenue - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire MEDFORD, Ore., Aug. 24, 2021 \/PRNewswire\/ — Lithia & Driveway (NYSE:\u00a0LAD)\u00a0today announced the acquisition of Rock Honda, a Top 20 Honda New Volume Dealer in the U.S. The purchase of this high-performing Honda dealership in the Inland Empire continues LAD’s fast-paced growth trajectory and expands the reach of its omni-channel network. Rock Honda is located in Fontana, CA and was the 16th largest New Volume Honda store in the nation in 2020. In addition to vehicle sales and service, Rock Honda is also licensed to provide customers with personal insurance as part of their consumer offerings. “We are excited to reach more consumers in the Southwest region and welcome the Rock Honda team to the Lithia & Driveway … Continue reading "Lithia & Driveway (LAD) Further Expands Network Adding $170 Million in Revenue"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/lithia-driveway-lad-further-expands-network-adding-170-million-in-revenue\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-24T11:18:15+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-driveway-lad-further-expands-network-adding-170-million-in-revenue\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lithia-driveway-lad-further-expands-network-adding-170-million-in-revenue\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Lithia & Driveway (LAD) Further Expands Network Adding $170 Million in Revenue\",\"datePublished\":\"2021-08-24T11:18:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lithia-driveway-lad-further-expands-network-adding-170-million-in-revenue\\\/\"},\"wordCount\":457,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lithia-driveway-lad-further-expands-network-adding-170-million-in-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-driveway-lad-further-expands-network-adding-170-million-in-revenue\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lithia-driveway-lad-further-expands-network-adding-170-million-in-revenue\\\/\",\"name\":\"Lithia & Driveway (LAD) Further Expands Network Adding $170 Million in Revenue - 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