Lithia Motors LAD has started sell-from-home customer experience, powered by a proprietary technology. The technology is part of a “multi-faceted expansion of digital conveniences”. It builds upon buy-from-technology that the company launched in 2019.
The technology is piloted in Pittsburgh and adjoining areas. It is available at Baierl.com, which has been named for the company’s Baierl division. The site utilizes a proprietary valuation algorithm.
Activating sell-from-home technology will enable the company to better serve customers.
Apart from activating sell-from-home technology, Lithia Motors is acquiring more stores to extend its network. Recently, it announced the addition of Chrysler Dodge Jeep Ram Fiat and Subaru stores in Morgantown, WV. Lithia Motors continuously strives to make acquisitions for increasing market share and catering to customer requirements in a better way.
By acquiring brands with considerable earnings potential, Lithia Motors generates significant cash flows while maintaining low leverage. Notably, the company generates around $250 million of free cash flow annually.
Additionally, it is widening omni-channel capabilities to expand and modernize transportation solutions for customers. Also, expanded physical network combined with enhanced digital solutions will allow the company to boost profitability and market presence.
Lithia Motors’ investor-friendly moves, including dividend payouts and share buybacks, lift investors’ confidence, as is evident from its share price movement. Over the past year, its shares have outperformed the industry it belongs to. Over this period, shares of the Zacks Rank #2 (Buy) company have gained 70.3% compared with the industry’s growth of 26.3%.
Other Stocks to Consider
Some other top-ranked stocks in the Auto-Tires-Trucks sector are BRP Inc DOOO and Sonic Automotive, Inc SAH, currently sporting a Zacks Rank #1 (Strong Buy), and Asbury Automotive Group, Inc ABG, carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
BRP has an expected earnings growth rate of 18.2% for 2019. The company’s shares have gained 54.5% year to date.
Sonic Automotive has an estimated earnings growth rate of 32.3% for 2019. Its shares have gained 109.7% year to date.
Asbury Automotive has an estimated earnings growth rate of 10.8% for 2019. Its shares have gained 49.3% year to date.
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