MEDFORD, Ore.--(BUSINESS WIRE)--Lithia Motors, Inc. (NYSE: LAD) announced today the addition of Ford Lincoln of Morgantown, West Virginia. The store, previously named Freedom Ford, is Lithia’s first dealership in West Virginia which marks the 19th state in Lithia’s expanding network.
The Morgantown auto dealership is the most recent example of Lithia’s proven success strategy of acquiring stores with the potential to yield high returns. In 2018, Lithia increased revenue 17.2%, and climbed 29 spots to #265 on the Fortune 500.
“Ford Lincoln of Morgantown is similar to our other stores in exclusive markets. They are a terrific team passionate about taking care of their local customer,” said Bryan DeBoer, Lithia Motors, Inc. President and CEO. He added, “We’re excited to help them grow their customer base and increase profitability by leveraging our internal performance data-including the resources of the 12 Baierl and Day auto stores in nearby Pittsburgh, Pennsylvania.”
“The market for purchasing dealerships is accelerating,” stated Bryan 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 (#265-2019). 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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