LAD - Lithia Motors' May sales up 104% Y/Y to $2.1B acquires five locations across Texas

Lithia Motors & Driveway (LAD) reported record May revenues of $2.1B and the acquisition of five locations across Texas. Total revenues increased 89% to $2.1B vs. May 2019 and total same stores sales increase 26%.Total revenues grew 104% Y/Y and total same store sales increased 42% for the month. "Our technology and team's ability to procure both new and used inventory, combined with continued strength in margins, drove strong performance," said Bryan Deboer, President and CEO. "With May same store growth of 20% in new vehicles and over 40% in used vehicles compared to pre-pandemic 2019 levels and service body and parts returning to 2019 levels, we are excited to be finishing up the first year of our 5-year plan to achieve $50 in EPS and $50 billion in revenue considerably ahead of plan." The company has acquired the Southwest Kia Auto Group with five locations in the major metropolitan

For further details see:

Lithia Motors' May sales up 104% Y/Y to $2.1B, acquires five locations across Texas