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Lithia and Driveway (NYSE: LAD) is a leading global automotive retailer that operates a network of physical locations and e-commerce platforms to serve customers throughout the vehicle ownership lifecycle. The company sells new and used vehicles, provides financing and insurance solutions, and offers repair and maintenance services. With operations spanning the U.S., U.K., and Canada, LAD represents 52 automotive brands and focuses on delivering a seamless, modernized retail experience.
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Vehicle Operations - Offers a wide range of new and used vehicles, as well as services like automotive repair, maintenance, and fleet management.
- New Vehicle Sales - Provides a diverse selection of vehicles from global carmakers.
- Used Vehicle Sales - Offers pre-owned vehicles to meet varying customer needs.
- Repair and Maintenance Services - Delivers comprehensive automotive care to support the entire vehicle ownership lifecycle.
- Fleet Management - Manages vehicle fleets for businesses and organizations.
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Financing Operations - Provides financing and insurance products through its captive finance division, Driveway Finance Corporation (DFC), enhancing customer access to loans, leases, and protection plans.
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E-commerce Platforms - Operates proprietary digital platforms, including Driveway and GreenCars, to offer a seamless online and physical retail experience for vehicle purchases and related services.
Name | Position | External Roles | Short Bio | |
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Adam Chamberlain Executive | Executive Vice President and COO | N/A | Adam Chamberlain joined LAD in 2022 as CCO and Regional President (East Region). He became COO on August 1, 2024. | |
Bryan B. DeBoer Executive | CEO and President | N/A | Bryan B. DeBoer has been the CEO and President of Lithia Motors, Inc. since 2012. He joined Lithia Motors in 1989 and has held various positions, including COO and SVP of Mergers & Acquisitions/Operations. | View Report → |
Christopher S. Holzshu Executive | Executive Vice President | Boards of Pinewood Technologies Group PLC and Wheels Inc. | Christopher S. Holzshu joined Lithia Motors in 2003 and has served as COO and CFO. He is currently an Executive Vice President, focusing on growth initiatives and partnerships. | |
David G. Stork Executive | Senior Vice President and CAO | N/A | David G. Stork joined Lithia Motors in December 2018 as Chief Legal Officer and became CAO in 2021. He has expertise in risk management and compliance. | |
Dianna du Preez Executive | Chief Customer Officer | N/A | Dianna du Preez joined LAD in 2023 as VP, Driveway Operations and was promoted to CCO. She has extensive customer service experience. | |
George N. Hines Executive | Senior Vice President and CITO | N/A | George N. Hines has been the CITO since July 2019. He previously held leadership roles at Massage Envy Franchising and Viad Corp. | |
Scott A. Hillier Executive | Senior Vice President of Operations | N/A | Scott A. Hillier joined Lithia Motors in 1986 and has held various roles, including Finance Manager and General Manager. He will retire effective July 1, 2024. | |
Tina H. Miller Executive | Senior Vice President and CFO | N/A | Tina H. Miller joined Lithia Motors in 2005 and has been the CFO since August 2019. She has held roles in internal audit, corporate accounting, and was promoted to Corporate Controller in 2015. | |
Cassandra McKinney Board | Non-Employee Director | Executive Vice President, Retail Bank at Comerica Bank | Cassandra McKinney was elected to the Board of Directors on June 26, 2024. She is also EVP, Retail Bank at Comerica Bank, managing significant revenue and a large portfolio. | |
David J. Robino Board | Director | N/A | David J. Robino joined the Board in 2016. He has held significant positions in various companies, providing valuable insights to Lithia Motors. | |
James E. Lentz Board | Director | Advisor to several private companies | James E. Lentz joined the Board of Directors on October 1, 2022. He has extensive experience in the automotive industry, including roles at Toyota. | |
Louis P. Miramontes Board | Director | Board of directors of Oportun Financial Corporation, advisory services to a real estate development company | Louis P. Miramontes joined the Board in 2018 and serves as Chair of the Compensation Committee. He has extensive experience in accounting and financial reporting. | |
Shauna F. McIntyre Board | Director | Board of Directors for Electric Last Mile Solutions, Co-founding board member for NACFE | Shauna F. McIntyre joined the Board of Directors in April 2019. She has held various leadership roles in the automotive industry. | |
Stacy C. Loretz-Congdon Board | Director | Board Member at Farmer Bros. Co. and Core-Mark Families Foundation | Stacy C. Loretz-Congdon joined the board in April 2023. She has extensive experience in accounting and corporate finance. |
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Regarding the decrease in used vehicle units sold by 9.6% year-over-year and the increase in days' supply to 68 days, what specific actions are you taking to address inventory levels and improve used vehicle sales, and how confident are you in your ability to execute on these initiatives? ,
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New vehicle gross profit per unit declined sequentially by $241 to $3,188; can you explain the factors behind this decline and whether you expect further pressure on new vehicle margins in the coming quarters? ,
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You have exceeded your initial $150 million cost-saving target by reaching $200 million, and anticipate another $100 million in savings; what gives you confidence in achieving additional savings without impacting operational efficiency, and could this aggressive cost-cutting affect your growth plans? ,
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Aftersales gross margins reached 56%, above your long-term target of 51%-54%; what is driving these higher margins, and how sustainable are they given the expected mix shift towards parts sales with new propulsion systems? ,
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With online monthly units flat quarter-over-quarter and a 40% reduction in burn rate for Driveway and GreenCars, how do you plan to accelerate growth in your e-commerce channels, and are you concerned about increased competition from both offline and online used vehicle retailers? ,
Notable M&A activity and strategic investments in the past 3 years.
Company | Year | Details |
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Stohlman Subaru | 2025 | The acquisition, completed in Sterling, Virginia, expands LAD’s presence in the Mid‐Atlantic region, is expected to add $80 million in annualized revenue, and was financed using existing on‐balance sheet capacity. |
Pendragon PLC’s Fleet Management and UK Motor Divisions | 2024 | Completed in January 2024, this deal involved acquiring Pendragon’s UK motor and vehicle management divisions plus a partial stake in Pinewood Technologies for approximately £430 million, significantly boosting LAD’s UK network and contributing over $4 billion in revenue from the UK motors business. |
Carousel Motor Group | 2024 | Completed in February 2024, this acquisition in Minnesota and Wisconsin expanded LAD’s footprint in the North Central region and contributed to over $5.4 billion in annualized revenues year-to-date. |
Sunrise Chevrolet Buick GMC at Collierville | 2024 | Acquired in June 2024 in Memphis, Tennessee, this deal marked LAD’s debut in the Memphis market and, together with a sister acquisition, is projected to generate over $240 million in annualized revenue while being financed via existing capacity. |
Sunrise Buick GMC at Wolfchase | 2024 | Also completed in June 2024 in Memphis, Tennessee, this acquisition—financed with existing on-balance sheet capacity—complements its Collierville counterpart to generate over $240 million in annualized revenue, enhancing LAD’s foothold in the Southeast. |
Woodbridge Hyundai | 2024 | Located in the greater Toronto area, this acquisition not only adds a dealership recognized as a “Best Dealership to Work for” but is also expected to contribute over $240 million in annualized revenue as part of LAD’s growth strategy. |
Duval Motor Company Dealerships | 2024 | Acquiring Acura, Honda, and Subaru stores in Jacksonville and Gainesville, Florida, this deal expands LAD’s retail network in Florida with an expected contribution of over $200 million in annualized revenue and is financed using existing capacity. |
Jardine Motors Group | 2023 | Completed in March 2023, this acquisition marked LAD’s entry into the UK market by adding over 37 premium locations and 50 franchises with an expected annualized revenue of over $2 billion, enhancing international operations and logistics integration. |
Priority Automotive Group | 2023 | Finalized in June 2023, this transaction acquired 13 Mid-Atlantic stores expected to generate over $1.2 billion in annualized revenue, and included the purchase of PCD auto loan receivables for $8.0 million (par value $9.1 million). |
Wade Ford | 2023 | Completed in June 2023 in Atlanta, Georgia, this acquisition expanded LAD’s presence in the lucrative Southeast region, supporting its target of $3–5 billion in annual acquisition revenue. |
John L. Sullivan Chevrolet | 2022 | Acquired in January 2022 in California, this dealership contributed to initial revenues of $90.7 million in three months and is part of a group of acquisitions expected to generate a collective $700 million in annualized revenue, with assets allocated from a $318.3 million cash package. |
John L. Sullivan Chrysler Dodge Jeep Ram | 2022 | Finalized in January 2022 in California alongside other Sullivan Group acquisitions, this deal reinforced LAD’s Sacramento market presence as part of an expected $700 million annualized revenue cluster. |
Roseville Toyota | 2022 | Completed in January 2022 in California, this high-volume Toyota store acquisition is a key asset in LAD’s Sacramento expansion strategy and contributes to the expected $700 million in annualized revenue from the group. |
Sahara Chrysler Dodge Jeep Ram | 2022 | Completed in March 2022 in Nevada, this acquisition was part of a group including Desert 215 Superstore and Jeep Only, with combined first-quarter contributions of $90.7 million in revenue and detailed purchase price allocations from a $318.3 million cash consideration. |
Desert 215 Superstore | 2022 | Also finalized in March 2022 in Nevada, this acquisition, grouped with similar deals, contributed to $90.7 million in quarterly revenue and was integrated into LAD’s consolidated financials under the acquisition method. |
Jeep Only | 2022 | Completed in March 2022 in Nevada alongside related acquisitions, this deal added to quarterly revenue metrics of $90.7 million and was accounted for as a business combination in LAD’s financial statements. |
Wilde Automotive Group Locations | 2022 | Acquired during Q3 2022 in Wisconsin, this transaction added five locations in the North Central region with projected annualized revenues of $625 million, further diversifying LAD’s operational footprint. |
Elk Grove Ford | 2022 | Finalized in July 2022 in Elk Grove, California, this acquisition contributed to LAD’s strategy of network expansion with an inclusion in a 2022 portfolio expected to generate $1.2 billion in annualized revenue. |
Airstream Adventures | 2022 | Completed in October 2022, this acquisition of six locations in the Pacific Northwest—the leading Airstream seller in the U.S.—enhances LAD’s portfolio mix and geographic diversification. |
Recent developments and announcements about LAD.
Earnings
New Earnings (Q4 2024)
·Feb 12, 2025, 6:31 PMView full earnings summary →DFC profits jump from $15M to $50–$60M, fueling $500M potential. SAAR expected at 17M by year-end, boosting double-digit same-store sales. However, aftersales grew only 3.5%, trailing peers. $200M SG&A cuts are done, limiting further cost tailwinds.
8-K Filings
8-K Filing
·Mar 3, 2025, 10:06 PMFinancial ExhibitsLeadership ChangesView full 8-K filing →On February 27, 2025, David J. Robino announced he will not seek reelection to the board. With his term expiring at the 2025 Annual Meeting, the board size will be reduced from 8 to 7 members.
Press Releases
Press Release
·Feb 12, 2025, 1:49 AMView full press release →Lithia & Driveway expands its network with the Elk Grove Subaru acquisition, adding $100M in annual revenue. The share repurchase authorization is raised by $350M, bringing the total repurchase capacity to approximately $748M.