Lithia Motors

LAD and Sidney DeBoer Complete B-Share Stock Conversion Nearly Five Years Ahead of Schedule

Tuesday, February 23, 2021 - 4:54pm

Lithia Motors & Driveway (NYSE: LAD) today announced that nearly five years ahead of schedule, LAD and Sidney DeBoer have completed the conversion of Lithias Class B common stock into Class A common stock effective February 23, 2021.

Key Points: 
  • Lithia Motors & Driveway (NYSE: LAD) today announced that nearly five years ahead of schedule, LAD and Sidney DeBoer have completed the conversion of Lithias Class B common stock into Class A common stock effective February 23, 2021.
  • As a result, Lithia Motors & Driveway no longer have a dual-class structure and all outstanding shares have the same economic value and voting power.
  • This acceleration further demonstrates our steadfast commitment to a culture of high performance while maintaining a strong corporate governance profile.
  • Together, these endeavors create a unique and compelling high-growth strategy that provides transportation solutions wherever, whenever, and however consumers desire.

Kerrigan Advisors Represents the Fields Auto Group in Sale of CJDR Sanford and Land Rover Orlando

Tuesday, February 9, 2021 - 2:00pm

Kerrigan Advisors, a leading sell-side advisory firm to auto dealers in the U.S., represented and advised Fields Auto Group, one of the largest dealership groups in the US, on its sale of Land Rover Orlando and Chrysler Dodge Jeep Ram Sanford to Lithia Motors.

Key Points: 
  • Kerrigan Advisors, a leading sell-side advisory firm to auto dealers in the U.S., represented and advised Fields Auto Group, one of the largest dealership groups in the US, on its sale of Land Rover Orlando and Chrysler Dodge Jeep Ram Sanford to Lithia Motors.
  • It is also Kerrigan Advisors seventh multi-dealership transaction since Q1 2020, and sixth Florida dealership sale since December of 2019.
  • We were honored to represent Fields Auto Group in the sale of these valuable Florida stores, said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors.
  • Kerrigan Advisors transaction experience and knowledge of the Florida market was key to making this sale seamless and beneficial for all involved.

LAD Acquires $100 million in Revenue, Expanding Presence in North Central Region

Tuesday, December 1, 2020 - 2:00pm

This purchase further increases Lithias footprint in the North Central Region of the United States.

Key Points: 
  • This purchase further increases Lithias footprint in the North Central Region of the United States.
  • We are delighted to add another high-performing store to serve our customers in the North Central Region, said Bryan DeBoer, Lithia Motors and Driveways President and CEO.
  • This acquisition improves our brand mix and ability to complete in-home and in-network solutions throughout their entire vehicle ownership lifecycle.
  • In addition to expanding Lithias network, Ramsey Subaru & Mazda also strengthens its corporate responsibility initiativesparticularly in community enrichment.

Kerrigan Advisors Represents Sterling Motorcars in Sale to Lithia Motors

Wednesday, November 18, 2020 - 2:00pm

Kerrigan Advisors, a leading sell-side advisory firm to auto dealers in the U.S., represented and advised Northern Virginia-based Sterling Motorcars on its sale of five luxury franchises to Medford, Oregon-based Lithia Motors, Inc. (NYSE: LAD).

Key Points: 
  • Kerrigan Advisors, a leading sell-side advisory firm to auto dealers in the U.S., represented and advised Northern Virginia-based Sterling Motorcars on its sale of five luxury franchises to Medford, Oregon-based Lithia Motors, Inc. (NYSE: LAD).
  • Sterling Motorcars, which is comprised of BMW of Sterling, MINI of Sterling, Rolls-Royce Motor Cars Sterling, Lamborghini Sterling and McLaren Sterling, was sold by Thomas and Joyce Moorehead.
  • Thomas and Joyce Moorehead are exceptional entrepreneurs who built Sterling Motorcars from the ground up, into a brand synonymous with top luxury and premium service, said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors.
  • Kerrigan Advisors also publishes The Kerrigan Index, the only monthly index tracking the seven publicly traded auto retail companies.

Lithia Motors Announces the Addition of $1.4 billion in Revenues from the Keyes Automotive Group in Southwest Region

Tuesday, November 10, 2020 - 2:00pm

Keyes Automotive is among the largest and most successful dealer groups in the country with 21,600 new vehicles and 10,350 used units sold in 2019.

Key Points: 
  • Keyes Automotive is among the largest and most successful dealer groups in the country with 21,600 new vehicles and 10,350 used units sold in 2019.
  • Lithia has the broadest coast-to-coast automotive retail network in the nation, reaching over 92% of the United States.
  • Lithia Motors financed this transaction using capital recently raised in concurrent equity and debt offerings that closed in early October.
  • We are delighted to welcome this exceptional group to the Lithia Motors team and look forward to tremendous success together in the coming years.

Kerrigan Advisors Represents Keyes Automotive Group in Sale to Lithia Motors

Tuesday, November 10, 2020 - 2:15pm

Kerrigan Advisors, a leading sell-side advisory firm to auto dealers in the U.S., represented and advised Los Angeles-based Keyes Automotive Group on its recent sale of nine dealerships to Lithia Motors, Inc. (NYSE: LAD).

Key Points: 
  • Kerrigan Advisors, a leading sell-side advisory firm to auto dealers in the U.S., represented and advised Los Angeles-based Keyes Automotive Group on its recent sale of nine dealerships to Lithia Motors, Inc. (NYSE: LAD).
  • The sale of Keyes Automotive Groups nine dealerships is the seventh Top 150 Dealership Group Kerrigan Advisors has sold in the last five years.
  • We are honored to have represented Keyes, one of the most well-respected dealership groups in the country, in its sale to Lithia Motors, said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors.
  • Keyes Automotive Group was founded by Howard Keyes father, Jerry Keyes, in 1950 in Van Nuys, California and has since grown to become a top 20 dealership group in the US, according to Automotive News.

Lithia Motors CFO Recognized as a Leading Woman in the Auto Industry

Monday, November 9, 2020 - 5:02pm

Tina Miller, Senior Vice President, Chief Financial Officer of Lithia Motors, Inc. (NYSE: LAD) has been named to the 2020 list of Leading Women in the North American Auto Industry by Automotive News.

Key Points: 
  • Tina Miller, Senior Vice President, Chief Financial Officer of Lithia Motors, Inc. (NYSE: LAD) has been named to the 2020 list of Leading Women in the North American Auto Industry by Automotive News.
  • Every five years, Automotive News compiles the list of 100 Leading Women in the North American Auto Industry, recognizing top female executives at automakers, suppliers, dealerships, and vendors.
  • Her unique perspectives and experiences bring diverse insights to our strategy and our mission of Growth powered by people.
  • In addition to her honor as a leading female auto executive, Miller will also participate on a panel at the Automotive News Leading Women virtual conference.

Lithia Motors Adds Another $55 Million in Revenue to Growing Network

Tuesday, October 6, 2020 - 12:00pm

We are pleased to add Latham Ford to the Lithia Family, further strengthening our ability to serve our communities in the Northeastern United States, said Bryan DeBoer, Lithia Motors President and CEO.

Key Points: 
  • We are pleased to add Latham Ford to the Lithia Family, further strengthening our ability to serve our communities in the Northeastern United States, said Bryan DeBoer, Lithia Motors President and CEO.
  • Latham Ford is expected to add $55 million in annualized revenue, bringing Lithia's total network expansion to over $1.75 billion in revenue thus far in 2020.
  • Lithia has built the broadest coast-to-coast automotive retail network, reaching over 92% of the United States and creating the fulfillment foundation of its omni-channel offerings.
  • Lithia Motors continues to pragmatically and profitably modernize the industry through its mission of Growth Powered by People.

Lithia Announces Pricing of Public Offering of Common Stock

Thursday, October 1, 2020 - 3:46am

Lithia Motors, Inc. (NYSE: LAD) today announced the pricing of its public offering (the Offering) of 3,181,819 shares of its Class A common stock (the common stock) at a price to the public of $220.00 per share.

Key Points: 
  • Lithia Motors, Inc. (NYSE: LAD) today announced the pricing of its public offering (the Offering) of 3,181,819 shares of its Class A common stock (the common stock) at a price to the public of $220.00 per share.
  • In addition, the underwriters have been granted a 30-day option to purchase up to an additional 477,272 shares of common stock at the same public offering price, less underwriting discounts and commissions.
  • In addition, today Lithia concurrently announced the pricing of its private offering of $550 million aggregate principal amount of its 4.375% senior notes due 2031 (the Notes), which represents an increase of $50 million from the offering size previously announced.
  • Goldman Sachs & Co. LLC and J.P. Morgan are acting as joint lead book-running managers for the Offering.

Lithia Announces Upsizing and Pricing of Senior Notes Offering

Thursday, October 1, 2020 - 3:44am

Lithia Motors, Inc. (NYSE: LAD) today announced the pricing of $550 million in aggregate principal amount of its 4.375% senior notes due 2031 (the "Notes") in a private offering (the "Private Offering"), which represents an increase of $50 million from the offering size previously announced.

Key Points: 
  • Lithia Motors, Inc. (NYSE: LAD) today announced the pricing of $550 million in aggregate principal amount of its 4.375% senior notes due 2031 (the "Notes") in a private offering (the "Private Offering"), which represents an increase of $50 million from the offering size previously announced.
  • Lithia intends to use the net proceeds of the Private Offering for general corporate purposes, which may include financing possible acquisitions, repaying or refinancing debt, working capital and capital expenditures.
  • The Private Offering is exempt from the registration requirements of the Securities Act of 1933, as amended (the Securities Act).
  • Examples of forward-looking statements in this press release include, among others, statements regarding the Private Offering and our concurrent public offering of common stock.