Latest news with #luxuryautomotive
Associated Press
10 hours ago
- Automotive
- Associated Press
Lithia & Driveway Expands Retail Network in Southeast Region and Provides Share Repurchase Update
MEDFORD, Ore., June 10, 2025 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) today announced the purchase of two Mercedes-Benz stores in Collierville, TN and Jackson, MS. This strategic move increases store density and luxury mix by adding LAD's first Mercedes-Benz store in the Southeast region, bringing an estimated $220 million in annualized revenue. 'We are thrilled to expand our presence in the Southeast with the addition of these two premier Mercedes-Benz stores. These acquisitions align with our strategic focus on growing in high-performing regions and strengthen our luxury brand portfolio. We look forward to building on the strong foundations these teams have established and accelerating the stores' growth and potential as part of our omnichannel ecosystem,' said Bryan DeBoer, Lithia & Driveway President and CEO. This addition brings LAD's total year-to-date expected annualized revenue acquired to $400 million. This acquisition was financed using existing on-balance sheet capacity. Share Repurchase Update To date this year, LAD has invested $230 million to repurchase approximately 729,000 shares at a weighted average price of $315 per share. This represents 2.8% of outstanding shares. $589 million remains available for repurchase under the existing share repurchase authorization. Management remains committed to a balanced approach to capital allocation and currently sees acquisitions and share repurchases at parity. About Lithia & Driveway (LAD) 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 our comprehensive network of physical locations, e-commerce platforms, captive finance solutions, fleet management offerings, and other synergistic adjacencies. We deliver consistent, profitable growth in a massive and unconsolidated industry. Our highly diversified and competitively differentiated design provides us the flexibility and scale to pursue our vision to modernize personal transportation solutions wherever, whenever and however consumers desire. Sites Lithia & Driveway on Facebook Lithia & Driveway on X Lithia & Driveway on LinkedIn Lithia & Driveway on YouTube View original content to download multimedia: SOURCE Lithia Motors, Inc.
ArabGT
07-05-2025
- Automotive
- ArabGT
Strong U.S. Sales for Lamborghini in Uncertain Times
Lamborghini has announced its results for the first quarter of 2025, and the numbers paint a picture of strong momentum—particularly in the United States, which retained its position as the company's most important market. These results arrive at a time when the luxury automotive landscape faces growing uncertainty, especially as newly introduced tariffs threaten to reshape how foreign-made vehicles are priced and sold in the U.S. From January through March, Lamborghini delivered 2,967 cars globally, representing a significant 29.6% increase over the same period last year. This boost in performance translated into €248.1 million (roughly $281.2 million) in operating income. Leading the growth was the U.S. market, where 933 units were delivered—comfortably ahead of Germany (366), the United Kingdom (272), Japan (187), and Lamborghini's home market of Italy (143). Other notable territories included South Korea (134), the Middle East (104), Switzerland (95), Australia (85), and France/Monaco (76). CEO Stephan Winkelmann acknowledged the impressive quarter, especially in light of today's economic headwinds. 'The future is in our hands,' he stated. 'These results confirm the strength and global appeal of the Lamborghini brand—even when faced with economic uncertainty. Our focus on performance, innovation, exclusivity, and customer-tailored quality continues to pay off.' Fueling this success were two standout models. First, the Revuelto, Lamborghini's groundbreaking plug-in hybrid V12 flagship, played a central role in the quarter's momentum. Combining a naturally aspirated 6.5-liter V12 with three electric motors, it produces a combined 1,001 horsepower. That's enough to launch the car from 0 to 62 mph in just 2.5 seconds, with a top speed of 217 mph. Also contributing significantly was the Urus SE, the newest iteration of the company's best-selling SUV. This plug-in hybrid variant combines a 4.0-liter twin-turbo V8 with an electric motor integrated into its transmission, producing a total of 789 bhp. It accelerates to 62 mph in 3.4 seconds and tops out at 194 mph. With the Urus S and Performante being phased out, the SE is poised to carry the lineup forward. While Lamborghini has not disclosed which specific model led U.S. sales, it's widely expected that the Urus remains the top performer, as it has consistently driven the brand's growth since its launch. Meanwhile, the V10-powered Huracán remains in limited production until the all-new Temerario fully replaces it later this year. What makes this quarter particularly noteworthy is the timing. The results came just before the implementation of new U.S. tariffs that add complexity to the outlook for imported luxury vehicles. While Q1 deliveries weren't affected by the tariffs, uncertainty looms over how these policies might influence consumer behavior and pricing in the quarters ahead. That said, Lamborghini operates in a rarefied segment where buyers are typically less price-sensitive. Supercars in this price bracket often weather economic policy shifts more gracefully than mass-market models. Whether Lamborghini can maintain this strong momentum through the rest of 2025 remains to be seen—but if Q1 is any indication, the brand is entering this new era with confidence.
