BDC United Congratulates the Lithia Motors management team for their outstanding achievement.

After a very close second in 2021, Lithia Motors Inc. grew to surpass Auto Nation as the #1 retailer of new vehicles in the US in 2022, ending Autonation’s quarter century reign.

Sprouting from the smallest publicly traded auto dealership group in the country in 1996, two years after AutoNation started its run as #1, Lithia has blossomed into the largest after acquiring 31 dealerships in 2022 which generate $3.5B in annual revenue. 

And that $3.5B was just the cherry on top. Since July 2020, Lithia has amassed $13.9 billion in incremental annual revenue through its aggressive acquisition plan, which forecasts $50B in annual revenue by 2025.

Lithia’s 4.2% increase to 271,596 new vehicles sales in 2022 strongly outpaced AutoNation after the former long-time number one experienced a 12% year over year drop to only  229,971 new vehicles sales in 2022. 

Lithia CEO Bryan DeBoer  – Feb. 15, 2023 analysts call  

“Our balance sheet is well capitalized and we’re executing on the growth initiatives across our segments,”

 “With the significant capital engine we have built, we are well positioned for further consolidation in our sector.”

“We have made a conscious decision to utilize the majority of our cash flows towards acquisitions rather than redistributing them primarily towards shareholders or paying down debt. As such, we have and will continue to establish the foundation for massive competitive advantages and size.”

BDC United is proud to be a favored solution provider for Lithia Motors Inc, and reveres the Lithia success story as validation of the power of fearless strategy and disciplined execution. 

https://www.autonews.com/dealers/lithia-motors-knocks-autonation-no-1-sales-pedestal

https://www.autonews.com/dealers/lithia-motors-q4-net-income-falls

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