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UNITED STATES
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 6, 2006
Lithia Motors, Inc.
(Exact Name of Registrant as specified in its charter)
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 June 6,, 2006, Lithia Motors, Inc. issued a press release announcing the acquisition of TradeMark Chrysler Jeep Dodge in Bryan - College Station, Texas. 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.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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)
Registrant's telephone number including area code 541-776-6868
(Former name or former address, if changed since last report)
(a)
Not applicable.
(b)
Not applicable.
(c)
Exhibits.
99.1 Press Release
LITHIA MOTORS, INC. (Registrant) |
||||
Date: June 7, 2006 | By: | /s/Kenneth E. Roberts | ||
Kenneth E. Roberts Assistant Secretary |
||||
EXHIBIT 99.1
LITHIA MOTORS ACQUIRES CHRYSLER JEEP AND DODGE STORE
IN BRYAN - COLLEGE STATION, TEXAS
Lithia Now has Fourteen Stores in Texas
MEDFORD, ORE. June 6, 2006 (12:00 p.m. PDT) Lithia Motors, Inc. (NYSE: LAD) the countrys eighth-largest automotive dealership group, today announced its acquisition of TradeMark Chrysler Jeep Dodge in Bryan - College Station, Texas. The store has annualized revenues of approximately $60 million and was added to Lithias operations as Lithia Chrysler Jeep Dodge of Bryan.
This is a new market for Lithia in the state of Texas. Lithias thirteen other stores in the state are located in the cities of; Midland, Odessa, San Angelo, Abilene and Corpus Christi. Lithia now generates approximately $540 million in annualized revenues in the state of Texas.
Lithias Chairman and CEO Sid DeBoer commented, Texas continues to produce opportunities for growth. The community of Bryan - - College Station draws on a metropolitan area with a population of approximately 189,000 people and represents the type of regional markets where Lithia has been successful in the past. Our first Texas acquisition was in San Angelo back in January of 2002. This store represents our fourteenth store in Texas and our fifth acquisition in the state over the past twelve months.
About Lithia
Lithia Motors, Inc. is a Fortune 1000 and Russell 2000 Company that sells 25 brands of new vehicles and operates 95 stores and 195 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 companys filings with the SEC. Specific risks in this press release include the estimated annualized revenue at the new store and annualized revenues derived from the state of Texas.