Lithia & Driveway has acquired three Hyundai dealerships in Southern California, enhancing its market presence and supporting its electrification strategy.

Target Information

Lithia & Driveway (LAD), a leading global automotive retailer, has made significant strides in its growth strategy by acquiring three Hyundai dealerships located in Anaheim, Huntington Beach, and Garden Grove in Orange County, California. This acquisition, expected to generate approximately $440 million in annualized revenue, enhances LAD's presence in the lucrative Southern California market while diversifying its import vehicle offerings.

President and CEO Bryan DeBoer emphasized the strategic importance of these acquisitions, stating that they not only increase brand diversity but also attract thousands of new customers into LAD's integrated ecosystem. The synergy created by joining these dealerships into LAD's operations aligns with the company's initiative to deliver a seamless ownership experience and foster long-term customer relationships.

Industry Overview in the United States

The automotive industry in the United States is characterized by rapid advancements in electric vehicle (EV) technology and changing consumer preferences towards sustainable transportation options. The ongoing shift towards electrification is being propelle