Lithia & Driveway Expands Luxury Automotive Network
Lithia & Driveway (NYSE: LAD) is excited to announce its latest acquisition of two renowned luxury dealerships: Porsche Beverly Hills and Audi Santa Monica. This strategic move adds approximately $450 million in annualized revenue, enhancing the company's momentum in the luxury automotive market.
With these additions, Lithia & Driveway continues to strengthen its luxury portfolio, bringing prestigious brands into its ecosystem. Bryan DeBoer, the President and CEO of Lithia, expressed enthusiasm about these dealerships, stating that they are iconic in one of the most recognized luxury automotive markets worldwide. He emphasized that these acquisitions will enrich the company’s luxury mix and substantiate their commitment to delivering strong earnings growth.
The recent acquisitions contribute to a remarkable total of $2.1 billion in expected annualized revenue acquired by Lithia year-to-date. Importantly, these purchases were facilitated through existing financial capacity, highlighting Lithia's robust financial management and strategic planning.
Recognition on TIME's Growth Leaders List
In addition to its expansion efforts, Lithia & Driveway received significant recognition by earning the #165 spot on TIME magazine's prestigious list of America's Growth Leaders for 2026. This accolade celebrates companies leading the way in innovation, profitability, and growth within the U.S. economy. Being listed among such high-performing enterprises reinforces Lithia's status as a key player in the automotive retail sector.
The Importance of Sustainable Growth
For Lithia, sustainable growth goes beyond acquiring new dealerships. The company is committed to developing a comprehensive network that offers exceptional customer experiences throughout the vehicle ownership lifecycle. By focusing on convenience and transparency, Lithia is not just a retailer but a partner in modernizing personal transportation solutions.
Innovation and Future Endeavors
Looking ahead, Lithia & Driveway aims to continue its growth trajectory by strategically aligning with high-quality brands and expanding its dealership footprint. This relentless pursuit of excellence ensures that Lithia remains at the forefront of the automotive industry, poised for success in a dynamic market.
About Lithia & Driveway
Lithia & Driveway, as the largest global automotive retailer, offers a comprehensive range of products and services that encompass every aspect of vehicle ownership. Their dedication to providing customers with simple, convenient, and transparent interactions is evident at their wide array of physical locations and online platforms. Lithia's diversified business model enhances its ability to navigate the complexities of the automotive sector while maintaining a competitive edge.
Frequently Asked Questions
What recent acquisitions has Lithia & Driveway made?
Lithia & Driveway recently acquired Porsche Beverly Hills and Audi Santa Monica, contributing significantly to its luxury portfolio.
How much revenue is expected from these new dealerships?
The acquisitions are projected to bring in approximately $450 million in annualized revenue.
What recognition did Lithia & Driveway receive from TIME?
Lithia was ranked #165 on TIME's list of America's Growth Leaders for 2026, acknowledging its impressive performance and growth.
How does Lithia focus on customer experience?
The company emphasizes creating simple, convenient, and transparent customer experiences across its services and offerings.
What is Lithia & Driveway's vision for the future?
Lithia aims to continue expanding its luxury network and modernizing transportation solutions while ensuring stable and profitable growth.
