Lithia coming soon to UK?
31 August 2022
Lithia Motors CEO Bryan DeBoer “appears to have sped up his interest” in entering the UK market. Last year, the second-largest US retailer targeted the UK and Australia “two to five years out… nothing urgent”. But news of the failed Pendragon deal earlier this month suggests Lithia is stepping up its plans for overseas expansion.
Lithia has been described as an opportunistic buyer in a fragmented space with “tonnes of options” in English-speaking foreign markets.
“It makes huge sense for Lithia to buy a large UK group,” said one analyst.
The UK is further along in terms of EV penetration, direct-to-consumer retailing and the agency model, which would provide Lithia with learnings as to what the future could look like in the US, said another.
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