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Bryan DeBoer had an enormous imaginative and prescient for Lithia, made it occur

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Previous to turning into CEO of the corporate based by his father, Sid, DeBoer had been Lithia’s COO and president, senior vice chairman of M&A/operations and basic supervisor of a Honda dealership in Oregon.

Acquisitions have been a cornerstone for Lithia throughout DeBoer’s tenure as CEO, which started in 2012, and performed a task in him being named an Automotive Information All-Star in 2014, 2016 and 2019.

In 2012, Lithia’s dealership rely was 87. It hasn’t stopped increasing.

By 2017, that rely elevated to 169 dealerships. Lithia surpassed the 200 mark final 12 months, reaching 209.

Lithia ranked No. 3 on Automotive Information‘ most up-to-date listing of the highest 150 dealership teams based mostly within the U.S., retailing 171,168 new automobiles in 2020. However DeBoer took it up a notch in April when Lithia acquired Michigan’s Suburban Assortment and 34 of its dealerships in one of many largest-ever acquisitions for the corporate in addition to one of many largest automotive retail transactions of the previous decade. That acquisition vaulted Lithia previous Penske Automotive Group to turn into the nation’s second-largest dealership group going ahead.

Simply greater than 4 months later, Lithia made one other important acquisition — and went in another country for the primary time — when it purchased Canadian retailer Pfaff Automotive Companions.

“I believe the most important studying that we have realized all alongside is know what we all know and know what we do not know,” DeBoer mentioned. “And just be sure you perceive that David Fischer [of the Suburban Collection] and his staff in Detroit know far more concerning the Detroit market, the customers, their associates and the competitors than we are going to ever know. I believe that is much more so acknowledged with Chris Pfaff and Carol [Deacon] and their groups in Canada.”

Past these two acquisitions, Lithia this 12 months entered a handful of Southeast states — Mississippi, Alabama and Georgia — additional increasing the retailer’s attain in what it refers to as Area 6 and what DeBoer known as the shallowest space for the corporate.

“It does assist us have the ability to develop in that Area 6. … I imagine it is probably the most profitable markets within the nation — these seven, eight states within the Southeast — and it is simply one thing that we’ve not been a celebration to during the last 20, 30 years,” he mentioned. “Now we’re getting a style of that and actually are having fun with what we’re seeing in these markets.”

Lithia mentioned it has acquired shops — together with a Harley-Davidson dealership, its first entry into bike gross sales — representing about $6.5 billion in annualized income in 2021 as of Nov. 16. Lithia added about $3.5 billion in income from its 2020 acquisitions.

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