One year into its five-year plan to reach $50 billion in annualized revenue, Lithia Motors Inc. has already doubled its 12-month dealership acquisition target.
Lithia, now the second- largest public dealership group in the U.S. based on number of stores, has added $7.8 billion in annualized revenue since rolling out its five-year plan in July 2020. Lithia's goal is to deliver and service vehicles within any 100-mile radius in the country through expansive growth, improved operational development and leveraging its captive finance company.
Lithia is 35 percent of the way to its goal of $22 billion in acquisition growth by 2025. Its nationwide network of 257 franchised dealerships is foundational to its growth plan, expanding its reach with a growing reservoir of new- and used-vehicle inventory.