Lithia & Driveway Expands Retail Network in Southeast Region and Provides Share Repurchase Update

Core Insights - Lithia & Driveway has acquired two Mercedes-Benz stores in Collierville, TN and Jackson, MS, enhancing its luxury brand portfolio and increasing store density in the Southeast region, with an estimated annualized revenue of $220 million from these acquisitions [1][2] - The total expected annualized revenue acquired by Lithia & Driveway year-to-date has reached $400 million, financed through existing on-balance sheet capacity [3] - The company has invested $230 million in share repurchases this year, acquiring approximately 729,000 shares at a weighted average price of $315 per share, representing 2.8% of outstanding shares, with $589 million remaining for future repurchases [4] Company Overview - Lithia & Driveway is the largest global automotive retailer, offering a wide range of products and services throughout the vehicle ownership lifecycle, focusing on providing simple, convenient, and transparent experiences through a comprehensive network of physical locations and e-commerce platforms [5]