Lithia Partners with Shift

By Staff Writer October 26, 2018

Lithia Motors, Inc. has launched a strategic partnership with Shift Technologies, committing $54 million to lead their series D fundraising round.

In October, Lithia announced Shift secured a credit line to acquire used vehicle inventory, providing the capacity to reach $1 billion in revenue. This operational collaboration resulted in Lithia receiving additional equity ownership in Shift.

Shift provides consumers a digital purchase and selling experience, providing vehicle pickup and delivery at a customer’s location. Shift currently operates throughout California and is one of the largest used-car retailers in the San Francisco Bay Area.

The partnership allows both companies to share technology and scale infrastructure to expand into new markets.

Last modified on Friday, 26 October 2018 12:52

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