CEO Says Lithia Needs 100-150 More Dealerships to Hit Goals

DeBoer: “We probably need to buy about $10 to $15 billion in revenue.”

Lithia Motors Inc., one the most active players in the buy-sell market, will need to acquire 100 to 150 more dealerships in the United States, and possibly elsewhere, between now and the end of 2025 to reach its goal of $50 billion in annual revenue that year, according to CEO Bryan DeBoer, according to a report in Automotive News.

The auto retail giant generated about $23 billion in revenue in 2021 and DeBoer, speaking Thursday at AutoTeam America’s Dealer/CEO/CFO Forum in Dallas, said Lithia is currently generating around $28 billion.

In November, Lithia announced its first foray into the RV sector with the purchase of Airstream Adventures, with six Airstream dealerships in Oregon, Washington, Idaho and California,

Source: https://rvbusiness.com/ceo-says-lithia-needs-100-150-more-dealerships-to-hit-goals/