Lithia (LAD) Expands Footprint in the US Southeast Region

Group 1 - Lithia Motors, Inc. has expanded its presence in the U.S. Southeast by acquiring multiple dealerships, which are expected to generate over $240 million in annualized revenues [1][7] - The acquisitions include Sunrise Chevrolet Buick GMC and Sunrise Buick GMC in Memphis, TN, and Woodbridge Hyundai in the greater Toronto area [1][7] - The total expected annualized revenues from acquisitions this year have increased to more than $5.6 billion, financed through existing on-balance sheet resources [8] Group 2 - The president and CEO of Lithia, Bryan DeBoer, emphasized the company's commitment to providing an exceptional retail experience and believes the acquired teams will enhance consumer service [2] - The acquisition of U.K. car dealership group Pendragon and Carousel Motor Group is expected to add approximately $4.5 billion and $900 million to Lithia's annualized revenues, respectively [3]