Tag: Lithia Motors
Lithia Motors surpasses cost-cutting target, achieves $200M in savings
According to COO Adam Chamberlain, Lithia Motors successfully reduced expenses by $200 million by the end of the third quarter, surpassing its original cost-cutting...
Lithia Motors expands into North Florida, adding $200 million in revenue
Lithia Motors has expanded its U.S. dealership portfolio by entering the North Florida market by acquiring three dealerships expected to generate more than $200...
CDK Global outage set to hit AutoNation and Sonic Automotive hardest...
According to analysts, AutoNation and Sonic Automotive are expected to be the most affected by the recent CDK Global outage in their second-quarter earnings....
Lithia Motors aims for $150 million in annual savings through targeted...
Lithia Motors is set to achieve an annual savings of $150 million through strategic layoffs and other employee cost reductions this quarter, as confirmed...
Lithia Motors buys Carousel Motor Group in 9-store deal
The Pohlad family has decided to part ways with Carousel Motor Group, a company it founded 15 years ago. Lithia Motors will scoop up...
Lithia Motors drives towards $50 billion revenue goal, achieves record-breaking Q4
Lithia Motors (LAD) recently revealed a record-breaking revenue of over $31 billion for the year, with $7.7 billion achieved in the fourth quarter alone,...
Dealer groups show resilience in Q3 despite profitability pressures
Dealership groups across the U.S. broke multiple performance records in the third quarter, highlighting retail automotive's unanticipated resilience in the post-pandemic era.
Lithia & Driveway...
AutoNation exits bidding war for UK’s Pendragon
AutoNation on Tuesday rescinded its offer to purchase U.K.-based automotive retailer Pendragon, roughly three weeks after joining a bidding war composed of America's largest...
AutoNation starts bidding war for U.K.’s Pendragon
AutoNation is now looking to purchase the U.K.-based Pendragon automotive group, offering the company $544 million on Tuesday.
The move has kicked off a bidding...
Lithia Motors acquires more U.K.-based dealerships, enters new DMS partnership
On Monday, September 18, Lithia Motors announced that it intends to enter a strategic partnership with Pinewood Technologies and acquire the UK motor and...
