Lithia & Driveway Expands Retail Network in Southeast Region and Provides Share Repurchase Update
MEDFORD, Ore., June 10, 2025 /PRNewswire/ -- Lithia & Driveway (NYSE:LAD) today announced the purchase of two Mercedes-Benz stores in Collierville, TN and Jackson, MS. This strategic move increases store density and luxury mix by adding LAD's first Mercedes-Benz store in the Southeast region, bringing an estimated $220 million in annualized revenue.
"We are thrilled to expand our presence in the Southeast with the addition of these two premier Mercedes-Benz stores. These acquisitions align with our strategic focus on growing in high-performing regions and strengthen our luxury brand portfolio. We look forward to building on the strong foundations these teams have established and accelerating the stores' growth and potential as part of our omnichannel ecosystem," said Bryan DeBoer, Lithia & Driveway President and CEO.
This addition brings LAD's total year-to-date expected annualized revenue acquired to $400 million. This acquisition was financed using existing on-balance sheet capacity.
Share Repurchase Update
To date this year, LAD has invested $230 million to repurchase approximately 729,000 shares at a weighted average price of $315 per share. This represents 2.8% of outstanding shares. $589 million remains available for repurchase under the existing share repurchase authorization. Management remains committed to a balanced approach to capital allocation and currently sees acquisitions and share repurchases at parity.
About Lithia & Driveway (LAD)
Lithia & Driveway (NYSE:LAD) is the largest global automotive retailer providing a wide array of products and services throughout the vehicle ownership lifecycle. Simple, convenient, and transparent experiences are offered through our comprehensive network of physical locations, e-commerce platforms, captive finance solutions, fleet management offerings, and other synergistic adjacencies. We deliver consistent, profitable growth in a massive and unconsolidated industry. Our highly diversified and competitively differentiated design provides us the flexibility and scale to pursue our vision to modernize personal transportation solutions wherever, whenever and however consumers desire.
Sites
www.lithia.com
www.investors.lithiadriveway.com
www.lithiacareers.com
www.driveway.com
www.greencars.com
www.drivewayfinancecorp.com
Lithia & Driveway on Facebook
https://www.facebook.com/LithiaMotors
https://www.facebook.com/DrivewayHQ
Lithia & Driveway on X
https://x.com/lithiamotors
https://x.com/DrivewayHQ
https://x.com/GreenCarsHQ
Lithia & Driveway on LinkedIn
https://www.linkedin.com/company/lithia-motors/
Lithia & Driveway on YouTube
https://www.youtube.com/@Lithia_Motors/featured
View original content to download multimedia:https://www.prnewswire.com/news-releases/lithia--driveway-expands-retail-network-in-southeast-region-and-provides-share-repurchase-update-302477144.html
SOURCE Lithia Motors, Inc.