Lithia's new acquisitions are Broncho Chevrolet in Odessa and Sherman Chevrolet in Midland. They will be renamed Chevrolet of Odessa and Chevrolet of Midland. The stores had combined sales of about $115 million in 2001. The amount Lithia paid for the dealerships was not disclosed, but they brought Lithia's acquisitions for the year to nine.
Sid DeBoer, Lithia's chairman and CEO, said the company has picked up almost $300 million in annualized revenues in West Texas. He called Lithia's market share in West Texas "significant."
Lithia, based in Medford, OR, has dealerships in the northwest and western US. It had revenues of $1.87 billion in 2001.
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