Lithia & Driveway Expands Presence with Strategic Acquisition

Lithia & Driveway Strengthens Network with New Acquisition

Lithia & Driveway (NYSE: LAD) recently announced an important move in advancing its retail network. The acquisition of Stivers Decatur Subaru is poised to enhance its presence in the Southeast region. This strategic decision not only boosts the network density in the Atlanta market but also significantly augments LAD's revenue potential, projecting an estimated $100 million in annualized revenues.

Exciting Developments in Atlanta

In a statement, Bryan DeBoer, the President and CEO of Lithia & Driveway, expressed enthusiasm over the acquisition. He stated, "We are pleased to welcome Stivers Decatur Subaru to the Lithia & Driveway family. The Atlanta metro is a dynamic, growth market, and Subaru's loyal customer base aligns with our focus on lifetime ownership experiences." This acquisition represents a strategic effort to deepen their footprint in the Southeast, providing customers convenient access to sales and services both online and in-store.

Growth Strategy and Financial Impact

The acquisition brings the total year-to-date annualized U.S. revenue acquired by Lithia & Driveway to an impressive $720 million, emphasizing their ongoing commitment to growth. This strategic move has been financed through existing capacity on the company's balance sheet, ensuring financial stability and resource management throughout the expansion.

About Lithia & Driveway

Lithia & Driveway (NYSE: LAD) stands as the largest global automotive retailer, offering a wide array of products and services throughout the entire vehicle ownership lifecycle. The company is dedicated to delivering straightforward, convenient, and transparent experiences through a robust network of physical locations and e-commerce platforms. With additional offerings in captive finance solutions and fleet management, Lithia & Driveway consistently demonstrates its ability to achieve profitable growth within a vast and unconsolidated industry.

The Vision of Modern Transportation

The diverse and competitive design of Lithia & Driveway empowers the company to pursue its vision of modernizing personal transportation solutions. Whether customers are looking for vehicles, services, or financing, Lithia & Driveway aims to meet their needs wherever and however they choose to engage.

Engagement and Community Connection

The company's commitment goes beyond just business; it extends to engagement with the community and interested stakeholders. Lithia & Driveway actively maintains a presence across various social media platforms to connect and communicate with its customer base. This outreach emphasizes their commitment to transparency and customer relations.

Join the Lithia & Driveway Community

For those looking to stay updated with Lithia & Driveway’s latest news and developments, they are encouraged to engage via social media channels. The company shares insights, updates, and new offerings through platforms such as Facebook, LinkedIn, and YouTube, ensuring that customers are always informed.

Frequently Asked Questions

What is the significance of Lithia & Driveway's acquisition of Stivers Decatur Subaru?

The acquisition increases network density in the Southeast region and is expected to generate around $100 million in annualized revenue.

What are Lithia & Driveway’s plans for growth?

The company continues to focus on strategic acquisitions to enhance its presence and improve customer experience across its locations.

How does this acquisition affect Lithia & Driveway's financials?

The acquisition raises Lithia & Driveway’s total year-to-date annualized U.S. revenue acquired to $720 million, showcasing its strong growth trajectory.

What services does Lithia & Driveway offer?

Lithia & Driveway provides a range of products and services across the vehicle ownership lifecycle, including sales, service, financing, and fleet management.

How can customers engage with Lithia & Driveway?

Customers can follow Lithia & Driveway on various social media platforms for updates and information about their services and offerings.

About The Author

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