MEDFORD, Ore.–(BUSINESS WIRE)–Lithia Motors, Inc. (NYSE: LAD) announced today the addition of Hamilton
Honda in Hamilton Township, New Jersey. The team joins Lithia’s
nationwide family of stores and expands the reach of Lithia’s network in
New Jersey and toward Eastern Pennsylvania.
Hamilton Honda is the most recent example of Lithia’s proven success
strategy of acquiring strong stores that are underperforming relative to
their potential. In 2018, the store generated $160 million in revenue,
and was ranked 23rd in the nation and 8th in the
New York Metro market among all Honda stores.
“We’re excited to welcome the Hamilton Honda team. They built strong
market share with a very customer focused strategy,” said Bryan DeBoer,
Lithia Motors, Inc. President and CEO. He added, “We’re eager to help
them translate that share into increased profitability through
leveraging our internal performance data.”
“The environment for purchasing dealerships is active,” remarked DeBoer.
“We will continue to seek strategic acquisitions where performance
management, digital innovation and our passion to serve consumers
wherever, whenever and however they desire increases the market share of
the store.”
About Lithia
Lithia Motors, Inc. is one of the largest providers of personal
transportation solutions in the United States and is among the
fastest-growing companies in the Fortune 500 (#294-2018). Consumers can
buy, sell and service vehicles digitally or through our 183 nationwide
locations. Our mission, Growth Powered by People drives us to grow and
serve our customers wherever, whenever, and however they choose.
Sites:
www.lithia.com
www.lithiainvestorrelations.com
www.lithiacareers.com
Lithia Motors on Facebook:
http://www.facebook.com/LithiaMotors
Lithia Motors on Twitter:
http://twitter.com/lithiamotors
Contacts
Megan Kurz
Director, Corporate Finance
Lithia Motors, Inc.
(541)
864-1729
