Lithia Motors, Inc. operates Lithia & Driveway as a global automotive retailer serving the vehicle ownership lifecycle through physical dealerships, e-commerce platforms, captive finance solutions, fleet management offerings, and related adjacencies. Company news commonly covers new and used vehicle sales, same-store trends, aftersales performance, Driveway Finance Corporation activity, and capital allocation through dividends and share repurchases.
Recurring developments also include dealership acquisitions across core volume and luxury brands, preferred partner technology deployments for store operations, earnings release schedules, and community or workforce initiatives tied to automotive technician programs.
Lithia & Driveway (NYSE: LAD) announced a $350 million increase to its share repurchase authorization, bringing the total available funds for future repurchases to approximately $660 million.
CEO Bryan DeBoer highlighted this move as a reflection of confidence in the company's long-term growth and profitability.
So far in 2024, LAD has spent over $156 million to repurchase nearly 609,500 shares, representing 2.2% of outstanding shares at an average price of $257 per share.
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