MEDFORD, Ore.--(BUSINESS WIRE)--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 23rd in the nation and 8th 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.
Lithia Motors on Facebook:
Lithia Motors on Twitter: