Lithia Motors Inc., which acquired Freedom Ford — now known as Ford Lincoln of Morgantown — confirmed it is interested in expanding its presence in the area.
Lithia acquired Freedom Ford in June, the first West Virginia dealership for publicly traded Lithia, one of the nation’s largest automobile dealerships. The purchase price was not disclosed.
“I can tell you Lithia is always open to opportunities that help strengthen our organization, specifically if there’s a fit within a region where we’ve already acquired stores,” said Leslie Ozer, regional marketing manager for Medford, Ore.-based Lithia.
The purchase of Freedom Ford makes West Virginia the 19th state where Lithia has a dealership. In 2017, Lithia entered the Pittsburgh market with the acquisition of Bairel Automotive and its 11 locations. That Pittsburgh acquisition was followed up with the February 2018 purchase of Day Automotive Group in Monroeville, Pa.
“We’re excited to help them grow their customer base and increase profitability by leveraging our internal performance data, including the resources of the 12 Bairel and Day auto stores in nearby Pittsburgh,” said Bryan DeBoer, Lithia president and CEO, in a news release.
“The market for purchasing dealerships is accelerating. We will continue to seek strategic acquisitions where performance management, digital innovation and our passion to serve consumers wherever, whenever and however they desire increases the market share of the store,” DeBoer’s statement said.
Lithia, founded in 1946, operates 183 locations in 19 states, mostly in the Midwest. It has been publicly traded on the New York Stock Exchange since 1996.
The Oregon company is also 265th on Fortune magazine’s Fortune 500, its annual ranking of the largest companies in the U.S.
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