Lithia Makes 2023 Revenue Progress with 14-Store Deal

The parent compabuy of Airstream Adventures, Lithia Motors Inc., recently took a significant step toward reaching its expectation to add $4 billion in revenue in 2023 via acquisitions, with the purchase of 14 franchised dealerships from Dennis Ellmer of Priority Auto Group in Virginia, according to a report by Automotive News.

The June 12 Priority Auto acquisition, which included domestic, import and luxury brands, is expected to add $1.2 billion in annual revenue, Lithia said. The auto retail giant said it has acquired dealerships representing $3.2 billion in annual revenue so far in 2023, most of which stems from its March purchase of Jardine Motors Group in the United Kingdom.

Read the full report by Automotive News.

Source: https://rvbusiness.com/lithia-makes-2023-revenue-progress-with-14-store-deal/