Medford-based Lithia Motors said today it has purchased Stockton Nissan Kia in California's Central Valley.
The nation's ninth-largest auto retailer said the store will be named Nissan and Kia of Stockton. Lithia, which reported more than $1 billion in sales during the second quarter, expects the acquisition to add $45 million to its annual revenue.
The dealership is the sixth in Northern California, joining Eureka, Fresno, Redding, Santa Rosa and Seaside. Lithia now operates 92 stores in 11 states.
Chief Executive Officer Bryan DeBoer said the Stockton market was attractive to Lithia because of its existing regional footprint. In June, the company announced the purchase of the O'Brien Auto Group in Salem, adding BMW, Honda and Volkswagen operations.
— Greg Stiles