Lithia Motors, Inc., was founded in 1946 and incorporated in Oregon in 1968. The company is a major operator in the franchised automotive industry and a retailer that buys and sells new and used vehicles and provides services. The company sells new and used cars, light trucks and spare parts; provides vehicle maintenance, warranty, painting and repair services, and provides related financing, service contracts, protection products and credit insurance. The main distribution of the company's dealers runs through the western and Midwestern regions of the United States. The company is positioned as a mid-sized regional market due to US and import franchising and the franchising of luxury goods in urban markets. The company still believes that the fragmented nature of the auto dealership industry provides them with opportunities to grow through consolidation. The company strives for the exclusive right to acquire, that is, the only agent of the brand in a market. The company's acquisition strategy is to reduce costs and increase store profitability by acquiring underperforming dealers through a centralized operating structure of applications. The company believes that the current economic environment provides them with very attractive acquisition opportunities. Walt DeBoer founded Lithia in Oregon in 1946 as a Chrysler Plymouth-Dodge dealer.
