| | Our Mission
THE MISSION OF LITHIA, AMERICA'S CAR AND TRUCK STORE, IS TO BE THE PREFERRED PROVIDER OF CARS AND TRUCKS AND RELATED SERVICES IN NORTH AMERICA.
Our History
The Beginning
Walt DeBoer started Lithia in 1946 as a single store on "The Plaza" in Ashland, Oregon. In its first year, Lithia had five employees who sold 14 vehicles. Following Walt's death in 1968, Sid DeBoer (eldest son in a family of six children) reorganized and took control of the small Chrysler-Dodge store.
A Strong Partnership
In 1970, Sid purchased the Dodge Center in Medford, shifting operations from Ashland, to the largest market in the area. Dick Heimann, then with the Chrysler Corporation, had formed a strong working relationship with Sid. As a result, Sid convinced Dick Heimann to leave his position with Chrysler and join him in running the Medford store. Since then Lithia has grown from a single store into a successful group of franchised auto-retail stores.
The Core Southern Oregon Stores
From 1970 to 1990 Lithia experienced substantial growth to a total of 5 stores and 19 franchises in the Southern Oregon area. It is in these stores that the "Lithia" operating model was developed. They are known as the core stores and represent the base for future growth and the model for new operations. |
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Lithia as a Public Company As of March 10, 2007
Vision Statement - A statement of what we are striving to be
Lithia Motors, Inc. is one of the largest full-service new vehicle retailers in the United States with 108 stores in 46 markets located in 15 states in the Western and Midwestern United States. Lithia offers 30 brands of new domestic and imported vehicles, all makes of used vehicles, service and parts, and finance/insurance. Internet sales are centralized at "Lithia.com-America's Car & Truck Store". Lithia had total revenues of $3.17 billion in 2006
Lithia went public in December 1996 at $11/share. Over the last eight years the Company has achieved Compound Annual Growth Rates (CAGR) in sales of 40%, net profit of 39%, and in Earnings per Share (EPS) of 20% per year. Over the same period same-store sales grew at an average annual rate of 2.9%. The common stock trades on the NYSE under the ticker "LAD".
For the full-year 2006, Lithia's net income from continuing operations was $40.3 million. Lithia earned $1.91 per share from continuing operations. Total revenues increased 11% to $3.17 billion.
For the fourth quarter of 2006, Lithia's Board of Directors approved a quarterly dividend of $0.14 per share. Shareholders of record as of January 16, 2007 will receive the dividend that will be payable January 30, 2007
- Lithia envisions the future, develops and embraces a strategic plan, and ensures the success of the plan.
- We strive for strong, sustainable and profitable growth.
- We speak a common language and execute best-in-class processes in all of our operations.
- We have dynamic and dedicated leadership committed to the standards and mission of Lithia.
- We provide opportunities for our people to excel and grow in a positive, respectful work environment.
- Our customers choose us because of our professionalism, consistency, and the extra effort we make to serve them.
- Our investors choose us because we are a sound investment.
- We Foster long term and mutually beneficial relationships with manufacturers and suppliers.
- We hold ourselves to the highest ethical standards in how we treat our employees, our customers, and our business partners.
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