Lithia Motors Sells Burlingame, Calif., Chrysler Store
August 13 2008 - 1:27PM
Business Wire
Lithia Motors, Inc. (NYSE: LAD) has completed the sale of its
Burlingame Chrysler Jeep Dodge franchise to T and K Automotive
Investments, Inc. �The sale of our Burlingame store shows continued
progress on our restructuring plan. We continue to execute the
changes we have outlined to allow us to be a more efficient and
diversified company,� said Sid DeBoer, Lithia�s Chairman and CEO.
About Lithia Lithia Motors, Inc. is a Fortune 700 Company, selling
28 brands of new and all brands of used vehicles at 106 stores,
which are located in 46 markets within 15 states. Internet sales
are centralized at www.Lithia.com, or through www.L2Auto.com.
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 105,108 new and used vehicles and had $3.22 billion in
total revenue in 2007. Additional Information For additional
information on Lithia Motors, contact the Investor Relations
Department: (541) 618-5770 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, future economic
conditions and others set forth from time to time in the company�s
filings with the SEC. We make forward-looking statements about our
ability to manage through the current sales and economic
environment. Specific risks in this press release include execution
of the restructuring plan and macro-economic and market factors.
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