MEDFORD, Ore., March 4, 2025 -- Lithia & Driveway (NYSE: LAD) announced the acquisition today of Elk Grove Subaru in Elk Grove, California, adding an additional store to its network in the Sacramento area, and continuing to strengthen its density in the Southwest region.
"We are excited to welcome the talented team at Elk Grove Subaru to the Lithia and Driveway team. This addition strengthens our presence in the Southwest region and continues our strategy of expanding our network with high-performing partners like Subaru. We look forward to continuing the store's legacy of building customer loyalty and leveraging our omnichannel capabilities to realize Elk Grove's potential," said Bryan DeBoer, Lithia & Driveway President and CEO.
This acquisition adds expected annual revenue of $100 million and brings LAD's total year-to-date annualized revenue acquired to $180 million. This acquisition was financed using existing on-balance sheet capacity.
Increase to Share Repurchase Authorization
LAD announced today a $350 million increase to its share repurchase authorization by its Board of Directors, bringing total funds available for future repurchases to approximately $748 million.
To date this year, LAD has invested over $71 million to repurchase over 197,500 shares at a weighted average price of $361 per share. This represents 0.75% of outstanding shares.
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
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