MEDFORD, Ore. - Lithia Motors Inc. has paid an undisclosed amount in cash for three dealerships that will put it in two new states and add $100 million in annual revenues.
The publicly traded dealership group, which had revenues of $2.38 billion in 2002, purchased Grizzly Dodge-Chrysler-Lincoln-Mercury-Suzuki in Missoula, Mont.; Expressway Dodge in Broken Arrow, Okla.; and Montana Dodge in Billings, Mont. The stores will be renamed Lithia Auto Center of Missoula, Lithia Dodge of Broken Arrow and Lithia Dodge of Billings. The transactions give Lithia 140 franchises at 75 stores.