Lithia & Driveway (LAD) Expands Retail Network in Southwest Region and Earns 2025 Best Dealerships to Work for in Canada Recognition

Core Insights - Lithia & Driveway (LAD) announced significant growth milestones, including strategic acquisitions and recognition for workplace culture [1][5] Acquisition and Revenue Growth - LAD acquired Anaheim Hyundai, Huntington Beach Hyundai, and Garden Grove Hyundai, enhancing its dealership network density and increasing its import mix in Southern California, projected to generate approximately $440 million in annualized revenue [2] - The total expected annualized U.S. revenue acquired by LAD year-to-date is now $1.16 billion, with the recent acquisition financed through existing on-balance sheet capacity and purchased for less than 10% of revenues [3] Electrification Strategy - The new stores align with LAD's electrification strategy in California, leveraging Hyundai's expanding EV and hybrid lineup to meet customer demand [4] - In the third quarter, battery electric vehicles (BEVs) accounted for 10% of LAD's new retail sales, an increase from 8% in previous quarters, attributed to the expiration of EV tax credits [4] Workplace Recognition - Eight of LAD's Canadian dealerships were recognized in Automotive News' 2025 Canada Best Dealerships To Work For list, representing 20% of the total recognized dealerships [5] - The recognition highlights the strong team culture and commitment to customer care within LAD's Canadian operations [6] Company Overview - Lithia & Driveway is the largest global automotive retailer, offering a wide range of products and services throughout the vehicle ownership lifecycle, emphasizing simple, convenient, and transparent experiences [7]