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Lithia & Driveway (LAD) Expands in Texas, Adding over $200 Million in Annualized Revenue

Retrieved on:

Tuesday, November 29, 2022

Kalen DeBoer, Dodge, Dallas–Fort Worth metroplex, LAD, Jeep, CDJR, Transport, Excellence, EPS, NYSE, FCA, Lithia, Acquisition, Oil, Ram

"We are thrilled to welcome this experienced and dedicated team to the Lithia & Driveaway family" said Bryan DeBoer, Lithia & Driveway President and CEO.

Key Points:

"We are thrilled to welcome this experienced and dedicated team to the Lithia & Driveaway family" said Bryan DeBoer, Lithia & Driveway President and CEO.
"Meador CDJR has a long-standing reputation for delivering exceptional service, earning them the FCA Customer First Award for Excellence" said DeBoer.
The store is projected to generate more than $200 millionin annualized revenue, bringing LAD's total expected annualized revenue acquired in 2022 to over $3.3 billion.
This acquisition continues the expansion of LAD's nation-wide network as part of the company's 2025 Plan to reach $50 billion in revenue and $55 to $60 in EPS.

Demand for Lithium Buoyed by the Growing Electrification of Vehicles

Retrieved on:

Monday, November 7, 2022

NEW YORK, Nov. 7, 2022 /PRNewswire/ -- The electrification of vehicles is still in its infancy stage, and it is projected to attract a significant volume of lithium-ion batteries. Lithium-ion batteries are heavily adopted due to their compact size, rechargeability, recyclability and high-density energy output. As a result, such batteries are largely used in electric vehicles (EVs). Government subsidies for EVs, along with investments in this space, are likely to act as an additional booster to the growth of the market. Geographically, the Asia Pacific region dominated the market as it held the largest volume share of 56.3% in 2020, owing to the rapidly developing automotive, glass, and consumer goods industries in countries such as China, Japan, South Korea, and India. According to Grand View Research, the global lithium market size was valued at USD 6.83 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.0% from 2022 to 2030. Infinity Stone Ventures Corp. (OTC: GEMSF) (CSE: GEMS), Pilbara Minerals Limited (OTC: PILBF), American Lithium Corp. (OTC: LIACF), Albemarle Corporation (NYSE: ALB), Lake Resources N.L. (OTC: LLKKF)

Key Points:

Infinity Stone Ventures Corp. (OTC: GEMSF) (CSE: GEMS), Pilbara Minerals Limited (OTC: PILBF), American Lithium Corp. (OTC: LIACF), Albemarle Corporation (NYSE: ALB), Lake Resources N.L.
(OTC: LLKKF)
Lithium proved to be an essential mineral for the electrification of vehicles as LiOH, a white hygroscopic crystalline material and an inorganic compound, is mostly used by lithium-ion battery manufacturers.
"Broadening our partnership with MRL would allow us to expand lithium conversion capacity with increased optionality and reduced risk to help meet our global customers' growing need for high-quality, reliable lithium supply."
"Optimisation work continues on site; Lilac anticipate the first samples of Lithium Chloride will be shipped for conversion to Lithium Carbonate within two weeks."

Demand for Lithium Buoyed by the Growing Electrification of Vehicles

Retrieved on:

Monday, November 7, 2022

NEW YORK, Nov. 7, 2022 /PRNewswire/ -- The electrification of vehicles is still in its infancy stage, and it is projected to attract a significant volume of lithium-ion batteries. Lithium-ion batteries are heavily adopted due to their compact size, rechargeability, recyclability and high-density energy output. As a result, such batteries are largely used in electric vehicles (EVs). Government subsidies for EVs, along with investments in this space, are likely to act as an additional booster to the growth of the market. Geographically, the Asia Pacific region dominated the market as it held the largest volume share of 56.3% in 2020, owing to the rapidly developing automotive, glass, and consumer goods industries in countries such as China, Japan, South Korea, and India. According to Grand View Research, the global lithium market size was valued at USD 6.83 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.0% from 2022 to 2030. Infinity Stone Ventures Corp. (OTC: GEMSF) (CSE: GEMS), Pilbara Minerals Limited (OTC: PILBF), American Lithium Corp. (OTC: LIACF), Albemarle Corporation (NYSE: ALB), Lake Resources N.L. (OTC: LLKKF)

Key Points:

Infinity Stone Ventures Corp. (OTC: GEMSF) (CSE: GEMS), Pilbara Minerals Limited (OTC: PILBF), American Lithium Corp. (OTC: LIACF), Albemarle Corporation (NYSE: ALB), Lake Resources N.L.
(OTC: LLKKF)
Lithium proved to be an essential mineral for the electrification of vehicles as LiOH, a white hygroscopic crystalline material and an inorganic compound, is mostly used by lithium-ion battery manufacturers.
"Broadening our partnership with MRL would allow us to expand lithium conversion capacity with increased optionality and reduced risk to help meet our global customers' growing need for high-quality, reliable lithium supply."
"Optimisation work continues on site; Lilac anticipate the first samples of Lithium Chloride will be shipped for conversion to Lithium Carbonate within two weeks."

Lithia & Driveway Celebrates Grand Opening of Its Driveway Store in Portland Tonight

Retrieved on:

Wednesday, November 2, 2022

LAD, NYSE, Solution, CEO, Lithia, Transport, Satellite navigation device

The store establishes a physical presence for Driveway's traditional digital platform to further advance consumer optionality while modernizing the vehicle-ownership experience.

Key Points:

The store establishes a physical presence for Driveway's traditional digital platform to further advance consumer optionality while modernizing the vehicle-ownership experience.
Driveway Chrysler Dodge Jeep Ram of Portland allows consumers to experience a new way to purchase a vehicle and have some fun in the process.
"Our Driveway Chrysler Dodge Jeep Ram store is the physical embodiment of our omni-channel solution," said Bryan DeBoer, President and CEO of Lithia & Driveway.
Driveway Chrysler Dodge Jeep Ram of Portland is located at 633 NE 12th Ave, Portland, OR 97232.

Napleton Auto Group Ranked Highest Among National Dealer Goups as Most Responsive to Website Customer Inquiries

Retrieved on:

Monday, September 12, 2022

Napleton Auto Group was ranked highest among fifteen national dealer groups evaluated in the 2022 Pied Piper PSI Internet Lead Effectiveness (ILE) Study, which measured responsiveness to Internet leads coming though dealership websites.

Key Points:

Napleton Auto Group was ranked highest among fifteen national dealer groups evaluated in the 2022 Pied Piper PSI Internet Lead Effectiveness (ILE) Study, which measured responsiveness to Internet leads coming though dealership websites.
The top three national dealer groups all achieved higher ILE average scores than the highest scoring auto brand, and twelve of the fifteen national dealer groups achieved higher ILE average scores than the overall auto industry average score.
For the top scoring dealer group, Napleton Auto Group, 63% of their dealerships scored over 80, while only 11% scored under 40.
The 2022 Pied Piper PSI Dealer Group Internet Lead Effectiveness (ILE) Study was conducted between June 2022 and August 2022 by submitting website inquiries directly to a sample of 1,631 dealerships nationwide representing fifteen national dealer groups.

Universal Technical Institute Opens 2nd New Campus in 2022, Bringing Industry-Aligned Automotive, Diesel and Welding Technology Training to South Florida

Retrieved on:

Tuesday, August 9, 2022

MIRAMAR, Fla., Aug. 9, 2022 /PRNewswire/ -- Universal Technical Institute (NYSE: UTI) is pleased to announce the opening of its new Miramar, Fla. campus, which will serve the South Florida region and mark a second location in the Sunshine State for one of the nation's leading providers of automotive technician training. Classes began August 8 at UTI-Miramar, where students can choose from four core training programs. The new campus is another step in UTI's ongoing growth and diversification strategy to broaden the reach of its skilled trade programs to high demand geographies.

Key Points:

"Adding a second campus in Florida offers additional training opportunities for those living in South Florida and helps meet the needs of local employers for trained technicians."
The combined Automotive and Diesel Technology program provides graduates with the flexibility to pursue a career in either industry.
"Florida Detroit Diesel-Allison is excited to welcome Universal Technical Institute to the new Miramar, Florida campus," said Stanley A. Dale, vice president of human resources at FDDA.
UTI's campuses are accredited by the Accrediting Commission of Career Schools and Colleges (ACCSC), while its employer-aligned technical training programs are offered under four brands:Universal Technical Institute, Motorcycle Mechanics Institute / Marine Mechanics Institute, NASCAR Technical Institute, and MIAT College of Technology.

KBRA Assigns Preliminary Ratings to LAD Auto Receivables Trust 2022-1

Retrieved on:

Friday, August 5, 2022

Professional Services, Finance, LADAR, Lithia Motors, DFC, New, Company, OR, ABS, Maintenance, Insurance, KBRA, Bank, Lithia

KBRA assigns preliminary ratings to three classes of notes issued by LAD Auto Receivables Trust 2022-1 (LADAR 2022-1), an auto loan ABS transaction.

Key Points:

KBRA assigns preliminary ratings to three classes of notes issued by LAD Auto Receivables Trust 2022-1 (LADAR 2022-1), an auto loan ABS transaction.
This transaction is the second ABS securitization for Driveway Finance Corporation (DFC or the Company).
DFCs first ABS securitization was LADAR 2021-1, closed on November 12, 2021, and was also rated by KBRA.
DFC is a wholly owned subsidiary of Lithia Financial Corporation, itself a wholly owned subsidiary of Lithia Motors, Inc. (Lithia).

Montecito Medical Acquires Medical Office Property in Tampa Area

Retrieved on:

Wednesday, August 3, 2022

Montecito Medical has completed the acquisition of a 37,000-square-foot medical office building in Lithia, Florida.

Key Points:

Montecito Medical has completed the acquisition of a 37,000-square-foot medical office building in Lithia, Florida.
The building, which opened in 2021, is fully occupied under long-term lease by Orthopaedic Medical Group (OMG) of Tampa Bay.
OMG, one of the fastest growing orthopedic groups in the Tampa-St. Petersburg area, maintains 8 locations.
At the Lithia property, which serves as the groups flagship location, OMG provides clinical services, orthopedic surgeries, and physical therapy.

DCG Acquisitions, A Dave Cantin Group Company, Closes Lithia Motors’ Acquisition of Henderson Hyundai Superstore/Genesis

Retrieved on:

Tuesday, June 28, 2022

DCG Acquisitions, a Dave Cantin Group Company, closed the transaction of Henderson Hyundai Superstore/Genesis to Lithia Motors Inc.

Key Points:

DCG Acquisitions, a Dave Cantin Group Company, closed the transaction of Henderson Hyundai Superstore/Genesis to Lithia Motors Inc.
DCG represented both the seller Henderson Hyundai Superstore/Genesis and buyer Lithia Motors Inc. in this deal.
Lithia Motors, one of the largest automotive groups in the country, bought the Henderson Hyundai Superstore/Genesis from Frank Maione.
Dave Cantin, George Pero, and the DCG Acquisitions team executed a smooth transaction between Lithia Motors and Henderson Hyundai Superstore/Genesis of Henderson, says Owner and President of Henderson Hyundai Superstore, Frank Maione.

Auto Dealership Buy/Sell Market Starts Strong in 2022, Outpacing First Quarter 2021: Dealership Confidence Remains High Despite Looming Economic Headwinds

Retrieved on:

Monday, June 20, 2022

In addition, the industrys high variable cost structure means inflationary costs will not immediately impact the operational expenses of a dealership.

Key Points:

In addition, the industrys high variable cost structure means inflationary costs will not immediately impact the operational expenses of a dealership.
Most dealers are confident in the strength of todays dealership business model which has historically remained profitable even during periods of recession.
The Kerrigan Auto Retail Index is designed to track dealership valuation trends, while also providing key insights into factors influencing auto retail.
Kerrigan Advisors also publishes The Kerrigan Index, the only monthly report tracking the seven publicly traded auto retail companies.