MEDFORD, Ore.–(BUSINESS WIRE)–Lithia Motors, Inc. (NYSE: LAD) announced today the addition of Ford
Lincoln of Morgantown, West Virginia. The store, previously named
Freedom Ford, is Lithia’s first dealership in West Virginia which marks
the 19th state in Lithia’s expanding network.
The Morgantown auto dealership is the most recent example of Lithia’s
proven success strategy of acquiring stores with the potential to yield
high returns. In 2018, Lithia increased revenue 17.2%, and climbed 29
spots to #265 on the Fortune 500.
“Ford Lincoln of Morgantown is similar to our other stores in exclusive
markets. They are a terrific team passionate about taking care of their
local customer,” said Bryan DeBoer, Lithia Motors, Inc. President and
CEO. He added, “We’re excited to help them grow their customer base and
increase profitability by leveraging our internal performance
data-including the resources of the 12 Baierl and Day auto stores in
nearby Pittsburgh, Pennsylvania.”
“The market for purchasing dealerships is accelerating,” stated Bryan
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 (#265-2019). 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
(541) 864-1729
