15 Oct Lithia Motors Activates Sell-From-Home Technology
MEDFORD, Ore.–(BUSINESS WIRE)–Lithia Motors Inc. (NYSE: LAD) has activated a convenient sell-from-home customer experience powered by a proprietary technology.
“We’re meeting customers on their terms,” said George Hines, Lithia Motors Senior Vice President, Chief Innovation and Technology Officer. “Now they can sell a car in minutes, within the comfort of their own home.”
The technology is part of a multi-faceted expansion of digital conveniences, building upon buy-from-home technology launched earlier in 2019. It is available at Baierl.com, named for Lithia’s Baierl division, and is currently being piloted in Pittsburgh and surrounding areas.
“The site utilizes a proprietary valuation algorithm that has many applications throughout our business model,” said Bryan DeBoer, President and CEO of Lithia Motors Inc. “It’s a scalable solution that our leaders will ultimately activate throughout all of our stores, which will better enable us to serve customers wherever, whenever and however they desire.”
After customers input a handful of vehicle details, the algorithm generates an immediate offer. A concierge meets sellers at their chosen location to pick up the car, and funds are deposited into their bank account.
“It was the best experience we ever had selling an automobile,” said Rana Mahfood-Levenderis, the first customer to use the technology, along with her husband Emanuel Levenderis. “I went online, filled out the questionnaire, and it was truly as easy as 1-2-3. I sincerely mean that. I have never encountered a more courteous and kind experience in selling a car.”
About Lithia Motors Inc.:
Lithia Motors, Inc. is one of the largest providers of personal transportation solutions in the United States and is among the fastest-growing companies in the Fortune 500 (#265 in 2019). Lithia is a growth company powered by people and innovation. By purchasing and building strong businesses that have yet to realize their potential, Lithia generates significant cash flows while maintaining low leverage. Operational excellence is achieved by focusing on the consumer experience and by utilizing proprietary performance measurements to increase market share and profitability. With a unique growth model, Lithia reinvests to expand its nationwide network and to fund innovations that create personal transportation solutions wherever, whenever and however consumers desire.
www.lithiamotors.com / www.lithiainvestorrelations.com / www.lithiacareers.comFacebook: www.facebook.com/LithiaMotorsTwitter: @lithiamotors
About Baierl Automotive:
For 60 years, Baierl has been committed to providing the most satisfying automotive experience for customers in Pittsburgh and surrounding communities. A longstanding community partner, Baierl has donated millions of dollars to the University of Pittsburgh, Baierl Family YMCA, the Sarah Heinz House and other nonprofits.
Vice President, Investor Relations & Treasurer
Lithia Motors, Inc.