Lithia Motors Welcomes Hamilton Honda, New Jersey to the Lithia Network
MEDFORD, Ore.--(BUSINESS WIRE)--May 14, 2019--
Lithia Motors, Inc. (NYSE: LAD) announced today the addition of Hamilton Honda in Hamilton Township, New Jersey. The team joins Lithia’s nationwide family of stores and expands the reach of Lithia’s network in New Jersey and toward Eastern Pennsylvania.
Hamilton Honda is the most recent example of Lithia’s proven success strategy of acquiring strong stores that are underperforming relative to their potential. In 2018, the store generated $160 million in revenue, and was ranked 23 rd in the nation and 8 th in the New York Metro market among all Honda stores.
“We’re excited to welcome the Hamilton Honda team. They built strong market share with a very customer focused strategy,” said Bryan DeBoer, Lithia Motors, Inc. President and CEO. He added, “We’re eager to help them translate that share into increased profitability through leveraging our internal performance data.”
“The environment for purchasing dealerships is active,” remarked DeBoer. “We will continue to seek strategic acquisitions where performance management, digital innovation and our passion to serve consumers wherever, whenever and however they desire increases the market share of the store.”
Lithia Motors, Inc. is one of the largest providers of personal transportation solutions in the United States and is among the fastest-growing companies in the Fortune 500 (#294-2018). Consumers can buy, sell and service vehicles digitally or through our 183 nationwide locations. Our mission, Growth Powered by People drives us to grow and serve our customers wherever, whenever, and however they choose.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20190514005295/en/
CONTACT: Megan Kurz
Director, Corporate Finance
Lithia Motors, Inc.
KEYWORD: UNITED STATES NORTH AMERICA NEW JERSEY OREGON
INDUSTRY KEYWORD: AUTOMOTIVE GENERAL AUTOMOTIVE
SOURCE: Lithia Motors, Inc.
Copyright Business Wire 2019.
PUB: 05/14/2019 07:00 AM/DISC: 05/14/2019 07:00 AM