Lithia & Driveway has acquired two Mercedes-Benz dealerships in Collierville, TN, and Jackson, MS, expected to generate $220 million in annualized revenue, strengthening its presence in the luxury vehicle market.

Information on the Target

Lithia & Driveway (NYSE: LAD) has recently acquired two Mercedes-Benz dealerships located in Collierville, TN, and Jackson, MS. This strategic acquisition marks the company’s first venture into the Mercedes-Benz luxury market within the Southeast region, positioning Lithia & Driveway to broaden its reach and enhance its luxury vehicle portfolio. The addition of these dealerships is projected to generate approximately $220 million in annualized revenue.

As the market for luxury vehicles continues to grow, this acquisition aligns with Lithia & Driveway's strategy to reinforce its presence in key high-performing markets. The leadership expresses excitement about capitalizing on the established operations of these stores to maximize growth opportunities.

Industry Overview in the Target's Specific Country

The automotive dealership industry in the United States has witnessed significant transformations in recent years, characterized by a shift toward digital sales platforms and increased competiti