Driveway Eclipses Key Monthly Transaction and Unique Visitor Milestones
Lithia & Driveway (LAD) announced significant growth for its Driveway platform, achieving 1,050 shop transactions in May, contributing to a total of 4,300 monthly transactions, surpassing its 2022 target of 40,000. With over two million unique visitors recorded in May, the company is on track for its 2023 transaction goals and aims for profitability by 2024. CEO Bryan DeBoer highlighted the rapid milestone achievement, indicating the platform's strong performance and potential for further growth.
- Achieved 1,050 monthly shop transactions in May.
- Total of 4,300 monthly shop and sell transactions, projecting over 51,000 annual transactions.
- Surpassed 2022 transaction target of 40,000.
- Over two million unique visitors in May, indicating strong consumer interest.
- On pathway to profitability by 2024.
- None.
MEDFORD, Ore., June 8, 2022 /PRNewswire/ -- Driveway, LAD's convenient and transparent way for consumers to shop, finance, and sell vehicles online, achieved a monthly volume milestone of 1,050 shop transactions in May. Driveway's monthly shop and sell transactions of 4,300 represents an over 51,000 transaction annual run-rate, considerably ahead of the 40,000 transactions originally targeted for 2022.
Driveway continues to deploy new functionality to innovate and enhance the consumer experience and expand LAD's reach, exceeding two million unique visitors in May.
"We are excited to report that Driveway reached the important 1,000 monthly unit shop milestone significantly faster than other used only e-retailers," said Bryan DeBoer, President and CEO of Lithia & Driveway. "Our Driveway Care Centers are performing exceptionally, and at two million plus visitors, we now have the top of funnel volume to reach our 2023 transaction expectations and are on our pathway to profitability in 2024."
LAD is a growth company focused on profitably consolidating the largest retail sector in North America through providing personal transportation solutions wherever, whenever, and however consumers desire.
Sites
www.lithia.com
www.investors.lithiadriveway.com
www.lithiacareers.com
www.driveway.com
www.greencars.com
www.drivewayfinancecorp.com
Lithia & Driveway on Facebook
https://www.facebook.com/LithiaMotors
https://www.facebook.com/DrivewayHQ
Lithia & Driveway on Twitter
https://twitter.com/lithiamotors
https://twitter.com/DrivewayHQ
https://twitter.com/GreenCarsHQ
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SOURCE Lithia Motors, Inc.
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