Lithia Motors Inc. has a bold, long-term goal: It wants to more than triple its combined U.S. new- and used-vehicle market share by revenue — a move that could make it No. 1 in auto retail.
The proclamation for significant growth from the nation's third-largest new-vehicle retailer comes while some in the industry see traditional auto dealers under pressure to survive long term in light of disruptive threats ranging from online competitors to electric and autonomous vehicles.
If Lithia were to reach the goal, which would give it about 5 percent of U.S. vehicle-sales revenue, it could leapfrog Penske Automotive Group and AutoNation Inc., the country's two biggest auto retailers.