Great Execution by Lithia's Management Leads to a Record 2Q
Lithia reported a record second quarter, but we see nothing to merit changing in our thesis or fair value estimate. We continue to see the company's growth runway as bright, with good balance sheet health and a robust acquisition pipeline. Management talked on the call about U.S. acquisitions being the priority due to so many opportunities, thus we expect Lithia to remain U.S. exclusive for a while. Credit line capacity is $218 million and management estimates its $329 million of unencumbered re...Lithia Motors is a providers of personal transportation solutions. The company's segments are Domestic, Import and Luxury. The company's Domestic segment is comprised of retail automotive franchises that sell new vehicles manufactured by Chrysler, General Motors and Ford. The company's Import segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by Honda, Toyota, Subaru, Nissan and Volkswagen. The company's Luxury segment is comprised of retail automotive franchises that sell new vehicles manufactured primarily by BMW, Mercedes-Benz and Lexus. The franchises in each segment also sell used vehicles, parts and automotive services, and automotive finance and insurance products.
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