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Lithia Motors Inc Class A LAD Stock Quote

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Morningstar‘s Stock Analysis LAD

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We See Lithia as a Leading Player in a Gradually Consolidating Sector

Business Strategy and Outlook

| David Whiston, CFA, CPA, CFE |

Lithia Motors' business model is strong because it is the only large publicly traded dealer operating in rural markets. These markets are unattractive to larger public dealers, as their management teams have no interest in small cities and they have import and luxury brand mixes more favorable to suburban markets. Nationwide, many Lithia brand stores have no competitors within 100 miles, giving Lithia pricing power.

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Business Description

Lithia Motors is a retailer of new and used vehicles and related services. The company offers 40 brands of vehicles at 278 stores in 25 states at year-end 2021 and entered Canada in mid-2021 with the purchase of Pfaff Automotive. The company has expanded largely through the acquisition of dealerships in smaller regional markets but now seeks to grow in any part of the U.S. and we expect more deals over time in Canada or perhaps Europe. Annual revenue in 2021 was $22.8 billion and we see over $50 billion possible in 2025. In 2021, new-car sales were about 49% of total revenue. Lithia was founded in 1946, went public in 1996, and is now one of the largest U.S. auto dealerships. It is based in Medford, Oregon.

150 N. Bartlett Street
Medford, OR, 97501
T +1 541 776-6401
Industry Auto & Truck Dealerships
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 21,150

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