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UNITED STATES
FORM 8-K
CURRENT REPORT
Date of Report (Date of earliest event reported): April 24, 2006
Lithia Motors, Inc.
Registrant's telephone number including area code 541-776-6868
Not applicable
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
Item 7.01 Regulation FD Disclosure.
On April 24, 2006, Lithia Motors, Inc. issued a press release announcing the acquisition of Fresno Dodge in Fresno California. A copy of the press release is attached as
Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
LITHIA MOTORS, INC.
Date: April 24, 2006 /s/ Kenneth E. Roberts
Kenneth E. Roberts
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
(Exact Name of Registrant as specified in its charter)
Oregon
0-21789
93 - 0572810
(State or other jurisdiction of
(Commission File Number)
(IRS Employer Identification
incorporation)
No.)
360 E. Jackson Street
Medford, Oregon 97501
(Address of Principal Executive Office)
(Former name or former address, if changed since last report)
(a)
Not applicable.
(b)
Not applicable.
(c)
Exhibits.
99.1 Press Release
(Registrant)
By:
Assistant Secretary
EXHIBIT 99.1
LITHIA MOTORS ACQUIRES DODGE STORE IN FRESNO, CALIFORNIA
Lithia Now has Twelve Stores in California
MEDFORD, ORE. April 24, 2006 (5:00 a.m. PDT) - Lithia Motors, Inc. (NYSE: LAD) the country's eighth-largest automotive dealership group, today announced its acquisition of Fresno Dodge in Fresno, California. The store has annualized revenues of approximately $50 million and was added to Lithia's operations as Lithia Dodge of Fresno in early April.
This is Lithia's fifth dealership in the Fresno market. Lithia's other stores in Fresno include Lithia Ford of Fresno, Lithia Nissan of Fresno, Lithia Hyundai of Fresno and Lithia Mazda Suzuki of Fresno. Combined annualized revenues in the Fresno market now totals approximately $215 million.
Lithia's Chairman and CEO, Sid DeBoer, commented, "Fresno has a strong and growing economy and we have some of our strongest stores and personnel in that market. Along with this acquisition, we were also awarded two additional Chrysler, Dodge and Jeep open points in the Fresno market area. This speaks to the strong relationship that we have forged with our Chrysler manufacturer partner. With this acquisition and the future development of the new open points, Lithia will be the exclusive Dodge dealer in the Fresno market."
About Lithia
Lithia Motors, Inc. is a Fortune 1000 and Russell 2000 Company that sells 25 brands of new vehicles and operates 94 stores and 189 franchises in 12 states in the Western United States and over the Internet through
"Lithia.com-America's Car & Truck Store." Lithia also sells used vehicles; arranges finance, warranty, and credit insurance contracts; and provides vehicle parts, maintenance, and repair services at all of its locations. Lithia retailed 103,333
new and used vehicles and had $2.9 billion in total revenue in 2005.
Additional Information
For additional information on Lithia Motors, contact the Investor Relations Department: (541) 776-6591 or log-on to: www.lithia.com - go to
Investor Relations
Forward Looking Statements
This press release includes forward looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995, which management believes are a benefit to
shareholders. These statements are necessarily subject to risk and uncertainty and actual results could differ materially due to certain risk factors, including without limitation economic conditions, acquisition risk factors and others set forth
from time to time in the company's filings with the SEC. Specific risks in this press release include the estimated annualized revenue at the new store, the strength of the market and personnel in Fresno, the strength of Lithia's relationship with
Chrysler Corporation and the proposed future exclusivity of Lithia's Dodge stores in the Fresno market.