Shifting Gears: How Lithia & Driveway is Dominating Luxury and Earning Its Stripes as a Growth Leader

Well, isn't this a moment? Lithia & Driveway, often known simply as LAD, has certainly been making some noise lately, not just by expanding its already considerable footprint, but by truly revving up its luxury network. And, as if that weren't enough, they've now landed themselves on TIME's coveted list of America's Growth Leaders. It's quite the one-two punch, honestly, showcasing a company that's clearly hitting its stride.

Let's talk about the luxury play first, because it's rather significant. LAD just swooped in and acquired Carousel Motor Group (CMG), a move that's set to inject a whopping $1.4 billion in annualized revenue into their coffers. Imagine that. CMG, a real force in the Minneapolis-St. Paul area, brings ten incredible luxury dealerships under the LAD umbrella. We're talking about an enviable roster of brands here: Audi, BMW, Cadillac, Chevrolet, Honda, Jaguar, Land Rover, Lexus, Porsche, Mercedes-Benz, MINI, Subaru, Toyota, Volkswagen, and Volvo. That's quite the lineup, wouldn't you say? This particular acquisition boosts LAD's total luxury locations to 46, representing 17 different, highly desirable brands. It's a testament to their strategic vision, truly.

But it's not just about the numbers, is it? Chris Holzshu, LAD’s President and COO, highlighted the deep local market presence and the seasoned management team that CMG brings to the table. And, in truth, that's crucial. You can acquire all the dealerships in the world, but without the right people and a genuine understanding of the local customer, well, it's just brick and mortar. This seems to be a thoughtful, synergistic expansion, strengthening their reach in key regions.

Now, onto that other big piece of news: being named to TIME's America's Growth Leaders list. It's a partnership with Statista, and this list is designed to pinpoint the top 500 US companies that are demonstrating truly exceptional revenue growth. For LAD to be recognized amongst such a distinguished group? That speaks volumes about their innovative spirit and their robust omnichannel model. Bryan DeBoer, LAD's President and CEO, really drove this point home, noting that their differentiated model — encompassing everything from Driveway to GreenCars — is enabling sustainable growth and, importantly, creating lifelong customers. And that, you could argue, is the ultimate goal.

So, what does this all mean? It signals a clear trajectory for Lithia & Driveway. They're not just growing; they're growing strategically, purposefully, and, dare I say, quite aggressively in the luxury segment. And, as the TIME recognition affirms, they're doing it in a way that places them firmly among the nation's most dynamic enterprises. It's an exciting time, to be sure, to watch LAD continue to accelerate down the highway of automotive retail.