Lithia

KBRA Assigns Ratings to LAD Auto Receivables Trust 2023-3

Retrieved on: 
Wednesday, August 23, 2023
Banking, Professional Services, Insurance, Finance, Maintenance, KBRA, OR, Lithia Motors, LADAR, ABS, DFC, United Kingdom, Telescopic sight, Lithia

KBRA assigns ratings to seven classes of notes issued by LAD Auto Receivables Trust 2023-3 (“LADAR 2023-3”), an auto loan ABS transaction.

Key Points: 
  • KBRA assigns ratings to seven classes of notes issued by LAD Auto Receivables Trust 2023-3 (“LADAR 2023-3”), an auto loan ABS transaction.
  • LADAR 2023-3 represents the fifth overall ABS securitization for Driveway Finance Corporation (“DFC” or the “Company”), and third of 2023.
  • DFC is a wholly owned subsidiary of Lithia Financial Corporation, itself a wholly owned subsidiary of Lithia Motors, Inc. (“Lithia”).
  • KBRA considered its onsite operational review of Lithia and DFC at its Tigard, OR location, as well as periodic due diligence updates with Lithia and DFC.

KBRA Assigns Preliminary Ratings to LAD Auto Receivables Trust 2023-3

Retrieved on: 
Thursday, August 10, 2023
Professional Services, Finance, Insurance, Maintenance, KBRA, OR, Lithia Motors, LADAR, ABS, DFC, United Kingdom, Telescopic sight, Lithia

KBRA assigns preliminary ratings to seven classes of notes issued by LAD Auto Receivables Trust 2023-3 (“LADAR 2023-3”), an auto loan ABS transaction.

Key Points: 
  • KBRA assigns preliminary ratings to seven classes of notes issued by LAD Auto Receivables Trust 2023-3 (“LADAR 2023-3”), an auto loan ABS transaction.
  • LADAR 2023-3 represents the fifth overall ABS securitization for Driveway Finance Corporation (“DFC” or the “Company”), and third of 2023.
  • DFC is a wholly owned subsidiary of Lithia Financial Corporation, itself a wholly owned subsidiary of Lithia Motors, Inc. (“Lithia”).
  • KBRA considered its onsite operational review of Lithia and DFC at its Tigard, OR location, as well as periodic due diligence updates with Lithia and DFC.

Risk & Insurance Names Three CorVel Clients as Winners of 2023 Risk All-Star Awards

Retrieved on: 
Tuesday, July 18, 2023
Risk, Lithia, CorVel Corporation, Patient, Risk management, Carhartt, RMIS, Lithia & Driveway Fields, Newsletter, Operational stress injury, Management

FORT WORTH, Texas, July 18, 2023 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: CRVL), a national provider of risk management solutions, today announced that three of the company’s partners were named 2023 Risk All-Stars by Risk & Insurance, including risk leaders from Fairfax County, Virginia, Carhartt, and Lithia & Driveway.

Key Points: 
  • FORT WORTH, Texas, July 18, 2023 (GLOBE NEWSWIRE) -- CorVel Corporation (NASDAQ: CRVL), a national provider of risk management solutions, today announced that three of the company’s partners were named 2023 Risk All-Stars by Risk & Insurance, including risk leaders from Fairfax County, Virginia, Carhartt, and Lithia & Driveway.
  • The award program recognizes emerging risks and mitigation strategies and highlights outstanding individuals responsible for managing risk or claims for their employers in a way that drives the industry forward.
  • The team utilized feedback provided by AI-driven VelocityEHS Ergonomics, based on video footage of employees performing their duties.
  • The Risk & Insurance All-Stars winners were announced in the July 2023 issue of Risk & Insurance® and are featured on their official website , in an eNewsletter, and in the digital edition of the magazine.

Lithia & Driveway Welcomes Priority Automotive and Expands Revenue in the Mid-Atlantic Region by $1.2 Billion

Retrieved on: 
Tuesday, June 13, 2023
Lithia, Ford, Toyota, Lithia & Driveway Fields, Acquisition, Hyundai, Chevrolet, Growth, Environment, NYSE, Priority, Driveway, Lists of United States Congress

MEDFORD, Ore., June 13, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced the purchase of 13 locations from the Priority Automotive Group in Virginia, expanding its footprint in the strong performing Mid-Atlantic Region.

Key Points: 
  • MEDFORD, Ore., June 13, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced the purchase of 13 locations from the Priority Automotive Group in Virginia, expanding its footprint in the strong performing Mid-Atlantic Region.
  • These exceptional stores are projected to generate more than $1.2 billion in annualized revenue.
  • Lithia & Driveway expands its footprint in Mid-Atlantic and is projected to generate more than $1.2 billion.
  • "All of us at Priority are pleased and excited to join forces with Lithia & Driveway.

KBRA Assigns Preliminary Ratings to LAD Auto Receivables Trust 2023-2

Retrieved on: 
Wednesday, May 10, 2023
Professional Services, Finance, Insurance, Maintenance, KBRA, OR, Lithia Motors, LADAR, ABS, DFC, Telescopic sight, Lithia

KBRA assigns preliminary ratings to six classes of notes issued by LAD Auto Receivables Trust 2023-2 (“LADAR 2023-2”), an auto loan ABS transaction.

Key Points: 
  • KBRA assigns preliminary ratings to six classes of notes issued by LAD Auto Receivables Trust 2023-2 (“LADAR 2023-2”), an auto loan ABS transaction.
  • LADAR 2023-2 represents the second term ABS securitization for Driveway Finance Corporation (“DFC” or the “Company”) in 2023 and the fourth overall.
  • DFC is a wholly owned subsidiary of Lithia Financial Corporation, itself a wholly owned subsidiary of Lithia Motors, Inc. (“Lithia”).
  • KBRA considered its onsite operational review of Lithia and DFC at its Tigard, OR location, as well as periodic due diligence updates with Lithia and DFC.

Profits at Auto Dealerships Reached a Peak in 2022 - Driving High Demand for Acquisitions and Record-High Prices for Some Franchises

Retrieved on: 
Friday, March 17, 2023
Other Retail, Automotive, Finance, General Automotive, Consulting, Automotive Manufacturing, Specialty, Professional Services, Manufacturing, Retail, Most, Lithia, Partner, Value, Lithia & Driveway Fields, Record, Robin, Sale, Acquisition, NADA, Pandemic, Video game, Car dealership, Financial services, Security (finance), Stellantis

Profits reached an estimated $6.5M per location for dealerships owned by the public auto retailers, more than triple what they were before the Pandemic.

Key Points: 
  • Profits reached an estimated $6.5M per location for dealerships owned by the public auto retailers, more than triple what they were before the Pandemic.
  • Public dealer groups acquired 40 stores in 2022, making it the 2nd most active year for the public companies since 2015.
  • Most public companies will be looking for additional acquisitions in 2023 since their share prices have recovered in the early part of 2023.
  • The result of high profits and strong demand is that we have seen record-high prices being paid for dealerships in the last six months.

KBRA Assigns Preliminary Ratings to LAD Auto Receivables Trust 2023-1

Retrieved on: 
Friday, February 3, 2023
Banking, Professional Services, Finance, Insurance, LADAR, OR, DFC, ABS, Maintenance, Lithia Motors, KBRA, Bank, Telescopic sight, Lithia

KBRA assigns preliminary ratings to six classes of notes issued by LAD Auto Receivables Trust 2023-1 (“LADAR 2023-1”), an auto loan ABS transaction.

Key Points: 
  • KBRA assigns preliminary ratings to six classes of notes issued by LAD Auto Receivables Trust 2023-1 (“LADAR 2023-1”), an auto loan ABS transaction.
  • This transaction is the third ABS securitization for Driveway Finance Corporation (“DFC” or the “Company”).
  • DFC’s first two ABS securitizations, LADAR 2022-1 and LADAR 2023-1, were both rated by KBRA.
  • DFC is a wholly owned subsidiary of Lithia Financial Corporation, itself a wholly owned subsidiary of Lithia Motors, Inc. (“Lithia”).

Lithia & Driveway's (LAD) Purchase of One of the Largest Stellantis Stores in Kentucky, Marks Entry into State

Retrieved on: 
Tuesday, December 13, 2022
LAD, NYSE, EPS, Lithia, Transport, Retail

"With the addition of Glenn's Freedom CDJR, we continue to build out our physical network and expand consumer optionality within our omni-channel strategy," said Bryan DeBoer, Lithia & Driveway President and CEO.

Key Points: 
  • "With the addition of Glenn's Freedom CDJR, we continue to build out our physical network and expand consumer optionality within our omni-channel strategy," said Bryan DeBoer, Lithia & Driveway President and CEO.
  • "Their pursuit of excellence and performance-driven culture make them an ideal fit into the Lithia & Driveway family."
  • In 2022, LAD has acquired 33 stores that are expected to contribute annualized revenue of $3.5 billion.
  • LAD is a growth company focused on profitably consolidating the largest retail sector inNorth Americathrough providing personal transportation solutions wherever, whenever, and however consumers desire.

Lithia & Driveway (LAD) Acquires First Ferrari Store, Representing the Rocky Mountain Region

Retrieved on: 
Tuesday, December 6, 2022
Bentley, LAD, NYSE, Lithia, Life, CO, Transport, Acquisition, Property management, Ferrari

MEDFORD, Ore., Dec. 6, 2022 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced today they have expanded into Colorado, purchasing Ferrari of Denver, the Company's first Ferrari store.

Key Points: 
  • MEDFORD, Ore., Dec. 6, 2022 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced today they have expanded into Colorado, purchasing Ferrari of Denver, the Company's first Ferrari store.
  • Ferrari of Denver will specialize in personalized, in-home customer experiences covering the full ownership lifecycle.The only Ferrari location in the greater Rocky Mountains region, this store boasts three Ferrari-certified technicians and a Bentley master-certified technician.
  • In addition to Ferrari, this store also sells Bentley and other luxury brands.
  • "We're thrilled to welcome this Denver team into the Lithia & Driveway family," said Bryan DeBoer, President and CEO.