Lithia Motors Adds Stores

By Staff Writer August 05, 2020

Lithia Motors Inc. announced the addition of four John Eagle Dealerships located in Dallas and Austin, Texas.

“We’re delighted to announce our network expansion in two of the largest markets in our logistically key South-Central region,” said Bryan DeBoer, Lithia Motors President and CEO. “We’re excited to welcome these high-performing teams to the Lithia family. Their reputation in their communities and extraordinary volume reflect a commitment to an exceptional customer experience.”

The addition of the John Eagle Dealerships is another example of Lithia's proven success strategy of acquiring strong, high-performing franchises. The John Eagle Dealership family and brand is well-renowned, and this purchase includes John Eagle Honda of Dallas, Honda Cars of Rockwall, Howdy Honda of Austin and John Eagle Sports City Toyota. Combined, these businesses add $500 million in annualized revenues and bring Lithia's network expansion to over $1 billion in revenue thus far in 2020. This acquisition was financed using free cash flows and existing on-balance sheet capacity.

“The acceleration of our plan to increase the reach and density of our network to more conveniently serve our customers is well under way. Together, with our Driveway ecommerce digital home channel, we are providing personal transportation solutions wherever, whenever and however consumers desire,” DeBoer stated.

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Last modified on Wednesday, 05 August 2020 14:22