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Tuesday, 14 September 2021 17:28

Lithia & Driveway Enters Atlanta, Expands in California

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Lithia & Driveway (LAD) announced Sept. 14 the addition of one of the top Honda stores in the Southeast, Curry Honda located in Chamblee, GA.

This is LAD's first dealership in Georgia and its strategic location in the top-10 Atlanta market. 

 

LAD also added to its Southwest network with the purchase of the No. 1 Jeep volume dealer in California, year to date, Orange Coast Chrysler Jeep Dodge Ram Fiat in Costa Mesa. Jon Gray, one of the top Chrysler, Jeep, Dodge leaders in the country, and past national dealer chairman of what is now Stellantis National Dealer Council, will continue to lead the dealership.

 

Together, these locations are expected to generate $320 million in annualized revenue. 

 

"As we strive to bring seamless online and offline experiences to consumers throughout North America, we're ecstatic to welcome these two high-performing dealership teams to the family," said Bryan DeBoer, LAD president and CEO. "These additions help us expand our omni-channel network and reach our goal of delivering and servicing consumer vehicles within a 100-mile radius anywhere in the country."

 

The addition of Curry Honda in the Atlanta metro area and Orange Coast Chrysler Dodge Jeep Ram Fiat in Orange County, CA, brings LAD's total expected annualized revenue acquired in 2021 to $6.2 billion. These acquisitions follow shortly after LAD joined with Pfaff Automotive Partners to expand into Canada.

 

The company is well ahead of pace to exceed its five-year plan, announced in July 2020, to reach $50 billion in revenue and $50 of earnings per share. These acquisitions were financed using existing on-balance sheet capacity. 

 

Source: LAD

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