Lithia Motors Acquires Eversole Motors in La Crosse, Wisconsin; Lithia's First Store in Wisconsin
June 27 2006 - 1:23PM
Business Wire
Lithia Motors, Inc. (NYSE:LAD) the country's eighth-largest
automotive dealership group, today announced its acquisition of
Eversole Motors in La Crosse, Wisconsin. The store has annualized
revenues of approximately $25 million and was added to Lithia's
operations as Lithia Chrysler Jeep Dodge of La Crosse. Lithia's
Chairman and CEO Sid DeBoer commented, "This is Lithia's first
acquisition in the state of Wisconsin. The community of La Crosse
is representative of the type of regional markets that are unique
to Lithia's growth strategy. Lithia is a company that started in a
small community in Southern Oregon where exceptional value,
customer service, and community involvement became core to the
company's values. We expect to continue that tradition in the
community of La Crosse." About Lithia Lithia Motors, Inc. is a
Fortune 1000 and Russell 2000 Company that sells 25 brands of new
vehicles and operates 96 stores in 38 markets located in 13 states
and over the Internet through "Lithia.com-America's Car & Truck
Store." Lithia also sells used vehicles; arranges finance,
warranty, and credit insurance contracts; and provides vehicle
parts, maintenance, and repair services at all of its locations.
Lithia retailed 103,333 new and used vehicles and had $2.9 billion
in total revenue in 2005. Additional Information For additional
information on Lithia Motors, contact the Investor Relations
Department: 541-776-6591 or log-on to: www.lithia.com - go to
Investor Relations Forward-Looking Statements This press release
includes forward-looking statements within the meaning of the
"Safe-Harbor" provisions of the Private Securities Litigation
Reform Act of 1995, which management believes are a benefit to
shareholders. These statements are necessarily subject to risk and
uncertainty and actual results could differ materially due to
certain risk factors, including without limitation economic
conditions, acquisition risk factors and others set forth from time
to time in the company's filings with the SEC. Specific risks in
this press release include the estimated annualized revenue at the
new store.
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