Driveway Eclipses Key Monthly Transaction and Unique Visitor Milestones
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.
"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."
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.
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SOURCE Lithia Motors, Inc.