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home / news releases / LAD - Lithia & Driveway expands footprint in Florida and Michigan

LAD - Lithia & Driveway expands footprint in Florida and Michigan

Lithia Motors Inc.
Lithia & Driveway (NYSE:LAD) purchases three Ford stores (Elder Ford of Tampa in Florida and Elder Ford of Troy, Elder Ford of Romeo in Michigan) from the Elder Auto Group using existing on-balance sheet capacity. Together these stores are expected to generate $425M in annualized revenue. The addition of the Elder Ford stores brings LAD's total expected annualized revenue acquired in 2021 to nearly $7B. The company is pacing to exceed its 5-year plan to reach $50B in revenue and EPS $50. Previously, the company reloaded buyback firepower, completed ABS offering for driveway finance

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Lithia & Driveway expands footprint in Florida and Michigan
Stock Information
Company Name: Lithia Motors Inc.
Stock Symbol: LAD
Market: NYSE
Website: lithiainvestorrelations.com
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