Lithia Motors Acquires Performance Dodge Chrysler Jeep in Butte, Montana; Lithia Now Has Seven Dealerships in Montana

MEDFORD, Ore.--May 3, 2005--Lithia Motors, Inc. the country's eighth-largest automotive dealership group, today announced it has acquired Performance Dodge Chrysler Jeep in Butte, Montana. This is Lithia's first dealership in the Butte market. Lithia's other stores in Montana include Lithia Dodge of Billings, Chevrolet of Helena, Lithia Chrysler Dodge of Helena, Honda of Great Falls, Lithia Chrysler Jeep Dodge of Great Falls and Lithia Auto Center of Missoula with the Chrysler and Dodge brands.

The dealership will start up operations as Lithia Chrysler, Dodge, Jeep of Butte on May 4, 2005. Lithia now generates approximately $180 million in annualized revenues in the state of Montana.

"We entered Montana back in April of 2003 with the acquisition of our Missoula operations. Last year we acquired our operations in Helena and Great Falls. The Montana market has been a successful market for Lithia Motors and we are glad to be able to further our presence there," said Lithia Chairman and CEO Sid DeBoer.

Other News

In April, Lithia completed the acquisition of Lithia Chrysler Dodge in Eureka, California. Lithia has now acquired 3 stores and 14 franchises with approximately $200 million in annualized sales in 2005.

About Lithia

Lithia Motors, Inc. is a Fortune 1000 and Russell 2000 Company that sells 25 brands of new vehicles and operates 88 stores and 176 franchises in 13 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 98,331 new and used vehicles and had $2.7 billion in total revenue in 2004.

Additional Information