|This article is outdated. (May 2014)|
|Traded as||NYSE: LAD|
|Founded||1946, Ashland, Oregon|
|Key people||Bryan DeBoer, CEO|
|Revenue||$4,006 million (FY 2013)|
|Operating income||$184 million (FY 2013)|
|Net income||$106 million (FY 2013)|
|Total assets||$1,725 million (FY 2013)|
|Total equity||$535 million (FY 2013)|
|References: Financial data.|
Lithia Motors, Inc. is an automotive dealership network headquartered in Medford, Oregon, primarily serving the western United States. It is the seventh largest automotive retailer in the United States, and ranked #14 in Fortune’s Most Admired Companies in 2013. Lithia Motors, Inc. currently ranks #602 on Fortune's top 1000 companies in 2014 list, up from a rank of #653 in 2013.
Lithia Motors began in 1946 when Walt DeBoer opened a single car dealership in Ashland, Oregon. The first year the five person company sold 14 cars. Next, in 1968 Walt DeBoer died and his son Sidney DeBoer took over the company. Sidney reorganized the business and in 1970 purchased a Dodge dealership in Medford. With this Lithia’s base of operation moved to Medford and grew to a total of five stores with 19 franchises by 1990.
In December 1996 the company went public, trading on the New York Stock Exchange with an IPO of $11 per share. By 2003, Lithia had revenues of $2.5 billion from its 84 dealerships while employing just over 5,500 people. The company had increased dealerships to 88 by 2005. Lithia was fined $500,000 by the state of Alaska in 2006 for charging car buyers illegal document preparation fees at their Alaska dealerships. That year they also settled with the Equal Employment Opportunity Commission for workplace discrimination. In early 2007 began plans to build a 60-acre (240,000 m2) auto mall north of downtown Medford and to build a new corporate headquarters in downtown Medford. In 2010, it was reported that with the backing of two lenders, “the Commons”, a mixed use building with Lithia Headquarters as the largest tenant, was a “go” and could proceed with construction. According to the Mail Tribune article, “Lithia partnered with the Medford Urban Renewal Agency to create The Commons, a revitalization project that includes the headquarters and another $14 million in infrastructure and three park blocks paid for with MURA dollars. Lithia employees moved into their new headquarters in late 2012. In January, 2014 the Commons building was awarded Silver Leadership in Energy and Environmental Design (LEED) Certification by the U.S. Green Building Council.
As of January, 2014, Lithia operated 92 stores in 13 states.
Lithia sells new cars from General Motors, Chrysler, Toyota, Honda, BMW, Volkswagen, Mazda, and Porsche among others. New cars make up 58% of auto sales, with used cars making up the other 42%. Additional revenues come from auto repair at the dealerships, financing, and insurance sales.
In 2013 Lithia was named No. 9 on Automotive News' list of the 125 largest U.S. dealership groups, with retail new-vehicle sales of 56,960 units in 2012. In used-vehicle sales it also ranks No. 9, with retail used-vehicle sales of 49,067 in 2012.
Revenue in millions of US dollars.
In April 2008, Lithia posts $1.9 million loss in 1Q. 2010 data is 1Q only SEC filings
The Lithia 4-Kids initiative enables Lithia stores to create strategic partnerships with select non-profit organizations or programs to support youth development through employee volunteering and charitable giving.
- Google Finance FY 2013 Lithia Motors. Retrieved on May 29, 2014.
- 2014 Fortune 1000
- About Lithia. Lithia.com. Retrieved on September 15, 2007.
- Brinckman, Jonathan. Every Lithia shop moves cars the same way conformity drives it. The Oregonian, October 10, 2004.
- Brinckman, Jonathan. Inside Oregon business: Auto dealer bypasses industry slump. The Oregonian, June 16, 2005.
- Lithia to pay refunds and fine in Alaska. Portland Business Journal, December 5, 2006.
- Brinckman, Jonathan. Lithia settles Colorado discrimination suit. The Oregonian, March 17, 2006.
- Lithia Motors building Oregon's largest auto mall. Portland Business Journal, January 22, 2007.
- Source: AutoNews: http://www.autonews.com/article/20131125/RETAIL04/311259995/lithia-expands-to-boost-used-car-sales#axzz2qVDWb8P7
- 2006 Annual Report. Lithia Motors. Retrieved on September 15, 2007.
- Auto News: http://www.autonews.com/article/20131125/RETAIL04/311259995/lithia-expands-to-boost-used-car-sales#ixzz2qVL3ZKSh
- Lithia posts $1.9 million loss Automobile News Report April 29, 2008
- Lithia 4-Kids Community Program