MEDFORD, Ore.--(BUSINESS WIRE)--Lithia Motors, Inc. (NYSE: LAD) announced today the addition of DCH Subaru in Thousand Oaks, California.
“We’re excited to welcome another high-performing team to the Lithia family,” said Bryan DeBoer, Lithia Motors President and CEO. “This addition kicks off a series of acquisitions planned for the second half of the year, accelerating our plan to reach five percent national market share.”
Subaru of Thousand Oaks exemplifies Lithia's proven success strategy of purchasing strong franchises in strategic locations. The store is expected to increase Lithia’s annual revenue by $60 million, further improving network density in the Southwest Region. Lithia's physical network is now comprised of 189 physical locations nationwide, providing both in store and digital home offerings through its six business lines.
“This store received the 2020 Subaru Love Promise Community Commitment Award. It recognizes Subaru retailers who are making the world a better place, while demonstrating an outstanding commitment to supporting causes in local communities. We couldn’t be more excited to have a team with this much passion for their communities join the Lithia family,” said DeBoer.
In 2019, Lithia achieved the broadest coast-to-coast automotive retail network reaching 92% of the U.S. Lithia Motors continues to incrementally and profitably modernize the industry through its mission of Growth Powered by People.
Lithia Motors, Inc. is a leading provider of personal transportation solutions in the United States and is among the fastest growing companies in the Fortune 500 (#252-2020). Lithia's rapid growth is powered by people, an industry leading coast-to-coast physical network and ecommerce digital home solutions. Lithia increases market share and optimizes profitability by focusing on the consumer experience and applying proprietary performance measurement systems fueled by data science. Lithia's unique growth model generates significant cash flows, which fund innovation and the expansion of its nationwide network, creating personal transportation solutions wherever, whenever and however consumers desire.
Lithia Motors on Facebook
Lithia Motors on Twitter