Driveway Eclipses Key Monthly Transaction and Unique Visitor Milestones

News provided by

Jun 08, 2022, 07:15 ET

MEDFORD, Ore., June 8, 2022 /PRNewswire/ -- Driveway, LAD's convenient and transparent way for consumers to shop, finance, and sell vehicles online, achieved a monthly volume milestone of 1,050 shop transactions in May. Driveway's monthly shop and sell transactions of 4,300 represents an over 51,000 transaction annual run-rate, considerably ahead of the 40,000 transactions originally targeted for 2022.

Driveway continues to deploy new functionality to innovate and enhance the consumer experience and expand LAD's reach, exceeding two million unique visitors in May.

Driveway (PRNewsfoto/Lithia Motors, Inc.)

"We are excited to report that Driveway reached the important 1,000 monthly unit shop milestone significantly faster than other used only e-retailers," said Bryan DeBoer, President and CEO of Lithia & Driveway. "Our Driveway Care Centers are performing exceptionally, and at two million plus visitors, we now have the top of funnel volume to reach our 2023 transaction expectations and are on our pathway to profitability in 2024."

About Lithia & Driveway (LAD):

LAD is a growth company focused on profitably consolidating the largest retail sector in North America through providing personal transportation solutions wherever, whenever, and however consumers desire.

Sites
www.lithia.com
www.investors.lithiadriveway.com
www.lithiacareers.com
www.driveway.com
www.greencars.com
www.drivewayfinancecorp.com

Lithia & Driveway on Facebook
https://www.facebook.com/LithiaMotors
https://www.facebook.com/DrivewayHQ

Lithia & Driveway on Twitter
https://twitter.com/lithiamotors
https://twitter.com/DrivewayHQ
https://twitter.com/GreenCarsHQ

SOURCE Lithia Motors, Inc.