Latest news with #Lithia
Yahoo
8 hours ago
- Automotive
- Yahoo
Will Carvana Extend Its Streak of Record Retail Sales in Q2?
Carvana Co. CVNA reported retail unit sales of 133,898 in the first quarter of 2025, which increased 46% year over year and set a new record. This growth reflects the company's evolving customer offering, growing consumer awareness and trust and the operational advantages of scale, including increasing inventory selection. The significant rise in retail unit sales contributed to record quarterly revenues of $4.23 billion, up 38% year over year. The reciprocal tariffs imposed by the Trump administration on imports could affect the cost of vehicles. However, Carvana expects that these higher tariffs are more likely to inflate prices of new vehicles relative to used ones, which could create a favorable pricing environment for the used vehicle market. Such conditions may particularly benefit business models focused on delivering strong consumer value, in which CVNA sees itself macroeconomic conditions remain steady, the company anticipates a sequential rise in retail unit sales in the second quarter, which could result in another all-time high. After delivering four consecutive quarters of retail unit growth exceeding 30%, the company has outlined a new long-term management goal. It plans to scale retail unit sales to 3 million annually within the next five to ten years. CVNA carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks competitors, like Lithia Motors, Inc. LAD and Group 1 Automotive, Inc. GPI, have also registered growth in retail unit sales in the latest reported quarter and are expanding their geographical footprints to support further the first quarter of 2025, Lithia's retail new and used vehicle sales reached 91,990 and 107,326 units, respectively, suggesting a year-over-year rise of 7.4% and 4.8%, respectively. Strategic acquisitions and store expansions are boosting Lithia's sales. The company is focused on buying large, high-performing stores in the Southeast and South-Central United States. By also expanding its digital reach, Lithia aims to grow its U.S. market share to 5%, up from just over 1% 1's retail new and used vehicle sales totaled 56,099 and 59,618 units in the first quarter of 2025, marking an improvement of 26.6% and 21.2% year over year, respectively. Acquisitions of dealerships and franchises are boosting Group 1's sales. In May, Group 1 acquired a Lexus and an Acura dealership in Florida and a Mercedes-Benz dealership in Texas to support growth in its key cluster markets. Carvana has outperformed the Zacks Internet – Commerce industry year to date. CVNA shares have gained 51.4% compared with the industry's growth of 4.2%. Image Source: Zacks Investment Research From a valuation perspective, Carvana appears overvalued. Going by its price/sales ratio, the company is trading at a forward sales multiple of 3.28, higher than its industry's 1.98. Image Source: Zacks Investment Research The Zacks Consensus Estimate for 2025 and 2026 EPS has moved up 9 cents and down 13 cents, respectively, in the past seven days. Image Source: Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Group 1 Automotive, Inc. (GPI) : Free Stock Analysis Report Lithia Motors, Inc. (LAD) : Free Stock Analysis Report Carvana Co. (CVNA) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Scottish Sun
a day ago
- Automotive
- Scottish Sun
Family-run car dealership group founded over 100 years ago set to be taken over by US giant in just weeks
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A CENTURY-old car dealership group could soon be taken over by a major US company, according to reports. Family-run group Hatfields is rumoured to be on the cusp of being acquired by the American giant Lithia, Car Dealer Magazine has reported. Sign up for Scottish Sun newsletter Sign up 1 Hatfields was founded by Ernest Hatfield in 1922 Credit: Google maps Sources close to the group told the magazine that staff had been informed of the deal via email. Insiders have told the outlet that the email tells employees that it will be made official on August 1. Lithia did not respond to Car Dealer Magazine's requests for comment. Hatfields boss Gareth Williams told Car Dealer: "We have no comment to make at this moment in time." Another senior source told Car Dealer: "I have been told locally by many staff working at Hatfields branches that the business has been bought out by Lithia. "All staff at Hatfields had an email On Wednesday 4 June at 7:30am. "The takeover will be complete on August 1." Hatfields was founded by Ernest Hatfield in 1922, and was named Jaguar's Partner of the Year in 2022. It operates dealerships that represent Jaguar, Land Rover and others throughout the Midlands and North West. Hatfields would join others like Evans Halshaw, Stratstone and Jardine Motors under Lithia's wings if the rumours prove to be true. Chilling moment thieves steal car with wireless device in seconds as new doc reveals how Brit motors end up in Lithuania The Sun has also approached Lithia for comment. It comes after three major UK car dealerships are set to close in just days as a US giant makes "drastic cutbacks". In March, The Sun reported that Group 1 Automotive would shut three Volkswagen Group sites. The affected sites were Audi Approved Hyde, and Volkswagen Wirral and Cheltenham. A spokesman for Group 1 Automotive told Car Dealer: "Due to the ongoing challenges presented by the current economic climate, we are unfortunately having to take some difficult decisions, which include the closure of our VW Wirral and Cheltenham stores, and Audi Approved Hyde."
The Irish Sun
a day ago
- Automotive
- The Irish Sun
Family-run car dealership group founded over 100 years ago set to be taken over by US giant in just weeks
A CENTURY-old car dealership group could soon be taken over by a major US company, according to reports. Family-run group Hatfields is rumoured to be on the cusp of being 1 Hatfields was founded by Ernest Hatfield in 1922 Credit: Google maps Sources close to the group Insiders have told the outlet that the Lithia did not respond to Hatfields boss Gareth Williams told Car Dealer: "We have no comment to make at this moment in time." read more in motors Another "All staff at Hatfields had an email On Wednesday 4 June at 7:30am. "The takeover will be complete on August 1." Hatfields was founded by Ernest Hatfield in 1922, and was named Jaguar's Partner of the Year in 2022. Most read in Motors It operates dealerships that represent Jaguar, Land Rover and others throughout the Midlands and Hatfields would join others like Evans Halshaw, Stratstone and Jardine Motors under Lithia's wings if the rumours prove to be true. Chilling moment thieves steal car with wireless device in seconds as new doc reveals how Brit motors end up in Lithuania The Sun has also approached Lithia for comment. It comes after three major UK car dealerships are set to close in just days as a US giant makes "drastic cutbacks". In March, The Sun reported that Group 1 Automotive would shut three Volkswagen Group sites. The affected sites were Audi Approved Hyde, and Volkswagen Wirral and Cheltenham. A spokesman for Group 1 Automotive told Car Dealer: "Due to the ongoing challenges presented by the current economic climate, we are unfortunately having to take some difficult decisions, which include the closure of our VW Wirral and Cheltenham stores, and Audi Approved Hyde."
The Sun
a day ago
- Automotive
- The Sun
Family-run car dealership group founded over 100 years ago set to be taken over by US giant in just weeks
A CENTURY-old car dealership group could soon be taken over by a major US company, according to reports. Family-run group Hatfields is rumoured to be on the cusp of being acquired by the American giant Lithia, Car Dealer Magazine has reported. Sources close to the group told the magazine that staff had been informed of the deal via email. Insiders have told the outlet that the email tells employees that it will be made official on August 1. Lithia did not respond to Car Dealer Magazine 's requests for comment. Hatfields boss Gareth Williams told Car Dealer: "We have no comment to make at this moment in time." Another senior source told Car Dealer: "I have been told locally by many staff working at Hatfields branches that the business has been bought out by Lithia. "All staff at Hatfields had an email On Wednesday 4 June at 7:30am. "The takeover will be complete on August 1." Hatfields was founded by Ernest Hatfield in 1922, and was named Jaguar's Partner of the Year in 2022. It operates dealerships that represent Jaguar, Land Rover and others throughout the Midlands and North West. Hatfields would join others like Evans Halshaw, Stratstone and Jardine Motors under Lithia's wings if the rumours prove to be true. Chilling moment thieves steal car with wireless device in seconds as new doc reveals how Brit motors end up in Lithuania The Sun has also approached Lithia for comment. It comes after three major UK car dealerships are set to close in just days as a US giant makes "drastic cutbacks". In March, The Sun reported that Group 1 Automotive would shut three Volkswagen Group sites. The affected sites were Audi Approved Hyde, and Volkswagen Wirral and Cheltenham. A spokesman for Group 1 Automotive told Car Dealer: "Due to the ongoing challenges presented by the current economic climate, we are unfortunately having to take some difficult decisions, which include the closure of our VW Wirral and Cheltenham stores, and Audi Approved Hyde."
Yahoo
10-06-2025
- Automotive
- Yahoo
The Presidio Group Exclusively Facilitates the Sale of Two Mercedes-Benz Dealerships in Mississippi and Tennessee to Lithia Motors
JACKSON, Miss., June 10, 2025--(BUSINESS WIRE)--The Presidio Group LLC ("Presidio"), an independent merchant banking firm focused on mergers and acquisitions, capital raising and investments in the automotive retail and consumer mobility sectors, exclusively advised Trudy Higginbotham Moody, Wallis Higginbotham and family on the sale of two Mercedes-Benz dealerships to Lithia Motors, Inc. (NYSE: LAD). The transaction, which was finalized June 2, involved Mercedes-Benz of Jackson in Mississippi and Mercedes-Benz of Collierville in suburban Memphis, Tenn., and included their associated real estate. The Mercedes stores had been part of a family business led by longtime dealer Dennis Higginbotham, who founded his first dealership in New Smyrna Beach, Fla., in 1976. He sold the dealership group he built to Sonic Automotive, Inc. in 1998. In 2001, he and his family became dealership owners again when they purchased Mercedes-Benz of Jackson. They later acquired the Tennessee Mercedes-Benz store as an open point. Moody, Dennis Higginbotham's daughter and the state of Mississippi's most recent TIME Dealer of the Year nominee, operated the Jackson location as dealer principal. "After careful consideration, our family made the difficult decision to sell these stores," said Moody, who also has served as chair of the Mississippi Automobile Dealers Association. "We turned to our trusted friends at Presidio to help us achieve our goals and ensure a seamless transaction that honors our family's automotive heritage and our father's legacy. I am deeply grateful to our dedicated team members and loyal customers for their longtime support that made our business so successful." For Lithia, the transaction strengthens the company's growing footprint in the Southeast and further boosts its presence in the luxury market. "This purchase allows us to expand our presence in Mississippi and Tennessee, two strategic markets for our company," said Bryan DeBoer, president and CEO of Lithia Motors. "We are always excited to see acquisition opportunities from Presidio given its professionalism and top-notch processes. This marks our fifth transaction facilitated by the firm with the amount of revenue acquired through those deals topping $4 billion, and it upheld the smooth, high-quality approach we've come to associate with Presidio." In Mississippi, Lithia already operates Toyota of Jackson. In Tennessee, it operates Sunrise Buick-GMC at Wolfchase and Sunrise Chevrolet-Buick-GMC at Collierville, both in suburban Memphis, and West Knoxville Chrysler-Dodge-Jeep-Ram in Knoxville. "Working with the Higginbotham family was a privilege," said Alex Watterson, managing director of The Presidio Group. "Their commitment to excellence, deep automotive roots and desirable brands and locations made this a meaningful transaction for both them and Lithia." "Despite the daily tariff headlines, well-capitalized dealers continue to seek strategic acquisitions to strengthen their market presence and expand their dealership networks," said George Karolis, president of The Presidio Group. "We were well suited to represent these dealerships to the market as our team has first-rate expertise in luxury automotive transactions, especially with Mercedes-Benz stores. We were honored to guide this process and provide a successful outcome for Trudy and the Higginbotham family, and we thank them for the trust they placed in us." The Higginbotham family was represented by Eric Gregory of Gregory Law, LLC. Lithia Motors was represented by Edward Impert, the company's general counsel, and Aaron Weisman, the company's legal director of M&A and real estate. The Presidio Group provided exclusive M&A advisory services to the Higginbotham family through its wholly owned investment bank, Presidio Merchant Partners LLC. About Higginbotham Automobiles Higginbotham Automobiles is a family-owned business operating in the Southeast and founded by Dennis Higginbotham, who first became a dealer in 1976. After selling stores to Sonic in 1998, the Higginbotham family became dealership owners once again in 2001. The family has been recognized for its emphasis on creating an excellent work environment and for staff longevity at its stores. About Lithia & Driveway Lithia & Driveway (NYSE: LAD) is the largest global automotive retailer providing a wide array of products and services throughout the vehicle ownership lifecycle. Simple, convenient and transparent experiences are offered through Lithia's comprehensive network of physical locations, e-commerce platforms, captive finance solutions, fleet management offerings and other synergistic adjacencies. The company delivers consistent, profitable growth in a massive and unconsolidated industry. Its highly diversified and competitively differentiated design provides it the flexibility and scale to pursue its vision to modernize personal transportation solutions wherever, whenever and however consumers desire. About The Presidio Group LLC The Presidio Group was founded in 1998 with the simple mission to relentlessly put the interests of our clients first. By steadfastly adhering to this philosophy, the firm has earned the trust of clients throughout the United States. During their careers, the professionals at Presidio have collectively closed nearly 290 transactions for about $19 billion. The Presidio Group, based in Denver and Atlanta, publishes Presidio Perspectives: A Quarterly Outlook on Auto Retail and M&A Trends, a leading source of information about the automotive retail landscape. Presidio Merchant Partners LLC is a subsidiary of The Presidio Group LLC and is a member of FINRA and SIPC. For more information on Presidio, visit View source version on Contacts Brodie Cobb(720) 844-3151bcobb@ George Karolis(678) 831-5520gkarolis@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
