Medford, Oregon-based Lithia & Driveway has marked a significant milestone in its financial history. The company reported an impressive 20% increase in fourth-quarter revenue to $9.2 billion compared to the same period last year. Additionally, it achieved its first profitable year for its financing operations, which includes Driveway Finance Corporation.

The company's strategic initiatives have driven robust growth. In the final quarter of 2024, Lithia & Driveway saw notable improvements across various segments. New retail units experienced a 7.4% increase on a same-store basis, while aftersales gross profit grew by 4.5%. The finance arm, Driveway Finance Corporation (DFC), scaled up its loan origination to $501 million, contributing to a portfolio of $3.9 billion in average managed receivables. Furthermore, the company repurchased 0.9% of its outstanding shares, reinforcing its commitment to shareholder value.

Bryan DeBoer, President and CEO, emphasized the importance of customer-centric strategies that enhance loyalty and unlock the platform's full potential. "Our focus on delivering exceptional experiences and accelerating the growth of our unique ecosystem positions us for sustainable performance and best-in-class returns," he stated. This approach underscores the company's dedication to innovation and customer satisfaction, setting a strong foundation for future growth.

The company’s achievements reflect its resilience and adaptability in a competitive market. With a record-breaking year in terms of revenue and profitability, Lithia & Driveway demonstrates its capability to navigate challenges while maintaining a forward-looking vision. The success of its omnichannel strategy, bolstered by a robust financial foundation, paves the way for continued expansion and innovation in the automotive industry. As the company continues to invest in its digital platforms and customer service enhancements, it remains committed to driving positive change and fostering long-term success.