Lithia Motors Opens New Hyundai Store in Fort Collins, Colorado, Lithia's 7th Store in the State of Colorado
MEDFORD, Ore., May 14, 2003 -- Lithia Motors, Inc. announced today that it has opened Lithia Hyundai of Fort Collins. After being a part of Lithia Chrysler/Jeep/Dodge of Fort Collins, the Hyundai store is now a brand new "stand alone" store. It is the first of its kind in Northern Colorado. Lithia Hyundai of Fort Collins is located at 3701 South College in Fort Collins adjacent to Lithia Chrysler/Jeep/Dodge of Fort Collins (formerly Lithia Foothills Chrysler).
Lithia Motors Chairman and CEO Sid DeBoer added, "This is our first Hyundai store in Colorado. Lithia Hyundai of Fort Collins joins six other company Hyundai stores which are located in Alaska; Nevada; Washington; Idaho; and California. We are proud to be entering this market with the Hyundai brand that is so popular with people throughout Colorado."
Bill Beine, General Manager of Lithia Hyundai of Fort Collins said, "we are very excited to be able to bring a full service Hyundai store to Northern Colorado. Our official Grand Opening will be in mid-June but we are open for business now and the response has just been incredible."
Lithia Motors, Inc. is a Fortune 1000 and Russell 2000 Company that sells 24 brands of new vehicles and operates 74 stores and 138 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 91,478 new and used vehicles and had $2.38 billion in total revenue in 2002.
For additional information on Lithia Motors, contact: Jeff DeBoer, Senior VP and Chief Financial Officer 541-776-6868 (E-mail: invest@lithia.com) or Dan Retzlaff, Director Investor Relations at 541-776-6819 or log-on to: Lithia.com -- Investor Relations.
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