Lithia & Driveway Enters South Florida with the Addition of Two Audi Stores
November 16, 2021 at 07:15 am EST
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Lithia & Driveway announced their entrance into South Florida with the addition of Audi Fort Lauderdale and Audi Coral Springs. The Florida stores dramatically increase LAD's luxury footprint in the Southeast Region and together are expected to generate $275 million in annualized revenue. The Audi Coral Springs dealership boasts the Audi showroom, an impressive 66,000 square feet, and is easily accessible off Florida highways. These well positioned stores will bring LAD one step closer to servicing consumer vehicles within a 100-mile radius anywhere in the country. The addition of Audi Fort Lauderdale and Audi Coral Springs brings LAD's total expected annualized revenue acquired in 2021 to $6.5 billion. The company is pacing to exceed its 5-year plan, announced in July 2020, to reach $50 billion in revenue and $50 of earnings per share. These acquisitions were financed using existing on-balance sheet capacity.
Lithia Motors, Inc. is a global automotive retailer. The Company is engaged in providing an array of products and services throughout the vehicle ownership lifecycle. The Company offers convenient experiences through its comprehensive network of physical locations, e-commerce platforms, captive finance solutions and other synergistic adjacencies. The Company operates through two segments: Vehicle Operations and Financing Operations. Its Vehicle Operations consist of all aspects of its auto merchandising and service operations, including its retail automotive, recreational vehicles, and motorcycle franchises that sell new vehicles, used vehicles, parts, repair and maintenance services, and vehicle finance and insurance products. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles from its Vehicle Operations. The Company operates approximately 482 locations representing 51 brands across the United States, United Kingdom, and Canada.
LITHIA MOTORS, INC. 
