Lithia Motors has acquired Honolulu Buick GMC Cadillac and Honolulu Volkswagen in Honolulu, Hawaii. The dealerships will add $75 million in estimated annual revenues to Medford-based Lithia.
Bryan DeBoer, Lithia president and chief executive officer, noted in a release today that the purchases would help the company "to leverage economies of scale."
"We seek exclusive franchises in the markets we serve and believe operating the only Cadillac store and one of two Buick GMC and Volkswagen stores on the island of Oahu compliments this strategy," DeBoer said in the release.
Lithia Motors is the ninth largest automotive retailer in the United States, selling 28 brands of new vehicles in addition to used vehicles at 98 outlets in 12 states. Last month it bought Island Honda of Kahului, Hawaii, the only Honda dealership on Maui.