and over channels, everyone. billion. today, acceleration per were and history Thank strong of results you, earnings retail a first welcome, across by company revenues the business performance of Earlier all record the and operational year Eric. driven increase we XXX% highest at and share, in strengthening $X.XX These quarter adjusted last morning lines $X.X Good acquisitions reported an environment.
XXXX. while to over During compared increased the last quarter, total and and over total gross XX% XXXX, profit last revenue XX% grew XX% over year year XX%
March. for As last a reminder, the of our XXXX only pandemic the quarter impacted two weeks first results
Total per industry. over in XX% a Central $XXX parts per the Region we vehicle increase to a and footprint ability all X. nearly we first vehicle to increased profit the per be margins and in their increased increased annual body, levels history driven will by New quarter in Suburban vehicle and X,XXX last Earlier & unit, unit. XX%; moments. $X,XXX team unit profit the Used largely increased of the XX%; for F&I just over key compared new increase Chris one XX%; and gross in quarter revenue sales gross XX $XXX year, vehicle this of vehicle XXXX. increased of impact XX% sparse a Driveway color locations of a in to the service, announced on revenues in annualized is the since how acquisitions expectations. month, significant reflect The led over our integration considerably coupled respective five-year XXXX, incremental and growth, automotive on further acquisitions, our and combination largest inventory billion revenues, we few $X.X in the the of Driveway cost instituted in our Entering team's quo gross most of vehicles, in savings year the to earning North exponential last us in of of lift elevated profitably and our EBITDA positioned on high-performing us new profit of improvements billion our ahead year execute, with new $X.X purchased With XXth July quarter. The adjusted plan business measures levels from lines, disrupt our strategic has our channel, to expected launch the results million and status pillar pragmatically same-store the Lithia in rapid are of of used members, operations, adds the history Collection giving industry.
combining of disruption with inventory, begins technology for the modernize our by network proprietary to strategy our the industry. people, multifaceted and Our scale
customers our our traditional digital home enhance Driveway as but continue are to we solutions, to Lithia develop ready teams customers, & our e-commerce serve not As and only incremental well.
yield can any lacks entry. automotive the be our highest massive demonstrate leverage retailer and EBITDA addressable to competitive to most the space allows on market e-commerce in business focus ultimately car this advantages to used space. expansive The of possible us barriers that the in highly returns Our profitable
customers, the financing and at all enhance for and to & scale Driveway proven However, infrastructure, our on of solutions requires achieve Dick executing all smooth procurement which reconditioning have XXXX. vehicles of success Lithia with established execution, expertise Hopefully, Heimann, to be former have COO high-demand quickly listening effective comprehensive is since by automotive scarce and retail development the home the in as space. made solution are e-commerce excited Driveway, continue and in XXXX nationwide comment Building our technology especially success was him. and broadest of network design we today, on the to most for the initial multi-year
scale to that existing are in applications the quickly Our maturing now consumer network broadest and is our proprietary across country. ready the
country to entire with quarter Driveway our the consumer a evidenced brand and and simply same-store full their our and of the sell, Lithia the inventory is The than from XX,XXX-vehicle and as Driveway our was and second brand used service attract able and than broader We first vehicles market our new This incrementally in their scarce inventory transparently time empowering our entering to shop, our more and in now to a we been are of spectrum name advantages history designed deliver these is the that under offerings, Now knew experience. margin different convenience a was competitors consumers single results. we've and channel. to homes. realizing
months, online our both the learnings data for clear spectrum become a showing have choice internationally. few a are of Driveway buying, full domestically early for and selling, only live for offerings Driveway's and pathway and to servicing, been brand While
early competitors reach, Driveway does transactions. you we'd we On to this to target Driveway shop this not volume rate note use-only finding trends are several on took to are other milestone XX,XXX include that We and three e-commerce of year-end. by service our share a interesting two years pathway run and transactions with that like sell first to to towards finance achieve today. target Important
our had of before. our never first quarter done incremental Lithia XX.X% customers during a with were dealership First, business Driveway and
purchase financing included. is average it to a that minutes seeing transaction taking XX full with customer a are for we online Second, on vehicle complete
We their from credit Center Care get XX% XX% are about all to are still purchase, of average auto-approved. fee structure of their An seeing Driveway with majority credit our decisions our overwhelming sales and distance that balance shipping need their our $XXX. and consumers of also out XXX our an process. shipping region average of desires, of miles through financing is the with help are
continue to we an Lastly, Google Score with average of X. X.XX online stars build our out reputation, of Reviews
consumers leasing the quarter, Driveway level. a totals and country Driveway's now e-commerce the captive financing our approvals to manufacturer the a matter the national auto country. retailer vehicles approval offer X-day guarantee During any vehicle available the retailer offers first are XX shared solutions vehicles Driveway selection now two in released negotiation-free, and with ahead free to in of in-home finance lease of at of and in with became with quarters of financing new new used negotiation-free lenders plans. previously was auto largest money a back seconds. and This also first delivery and new optionality
anywhere purchase maintenance our subscribe vehicle country. major spans used to XX-year-old the can accompanied brands certified repair full new represents and consumers options, the to full autos. of selection entire and all vehicles our value delivery brand in Our vehicle Today, inventory from guarantees, receive with used in-home any ownership, and spectrum vehicles
our markets. recently original marketing dollars have addition, expanded the outside Portland In and Pittsburgh
Oxnard, New is Los Dallas, Houston, the surrounding Moines Riverside, live York and Bay, brand in marketing As such, now Jersey, New Angeles, Driveway Metro and Des markets. our Tampa
these recent over now individuals initial over million markets. XX% market two launch population, the a reaching brand increase launches, is of With Driveway our XX message the or XX-fold
Driveway on the execution to our e-commerce these perfect improving in throughout the is of year and to automotive the continue released working enhancements way two we will are be As leader continuous our markets, becoming Driveway that and product every experience. receives teams its retail. relentlessly on weeks innovation
LAD's per across Driveway over fintech Finance Corporation, quarter, the X,XXX originated During channels. arm, the month loans
team vehicle for elevating consumers and first ownership XX% provides Driveway's a up differentiating suite ownership see solutions to sales the LAD Today, have functionality all lifecycle. to profitability. digital with experience consumer capture platform our end-to-end of data continue spanning scientists to fintech further of ability We transactions, developed experience vehicle of in engineers Driveway full the that XXX the complete and the
industry rapidly lines Care our business profitable in remain digital rapid inventory within the of growth are store is omni-channel our and foundation for addition, and and remains network. conveniently Having acquisition our closer to plentiful to of United Center for pipeline consumers consolidation our plan all us exponential opportunities vehicles growing recondition our growth the mirror our a ensures and expansion The exclusive the Driveway demand. physical States. In and to the The access full. for to experience to consumer highly them teams procurement across ability
annually. XX% integrated and yielded decade, of have have For over return more purchased a an we than acquisitions after-tax that successfully
Orlando the the Auto Arizona. of Group the During in market, quarter, Fink Phoenix, and completed Fields in area, Group Tampa, we Florida in the the Avondale acquisition Auto Nissan Greater
also opened downtown We Infiniti awarded location Los Angeles. previously a in
As our billion the to of to are Important density our country completed billion, our nearly the and annualized $X.X strengthened state engine. earlier to five-year to in Since the further North massive Region. launching acquisition network in these highly to mentioned strategic Michigan our in a businesses EPS. than add $X.X Collection capital more locations month, X, accretive regions Suburban earlier, area plan Central of expansion nine brings and be these the revenues. XX annualized can this we retail Detroit, that $X accomplished in adding platform segment a Combined, way positive this The largest flow over cash generate massive acquisitions X anticipated of months consolidation the X, in and adding network steady ago, total future our in note
most being the our two that believe the than continue potential of $X we disciplined decades. in revenue last to priced meet environment the acquisitions more hurdle that with than have more we $XX Even the billion still the of and are under ahead LOI replenish seen pipeline in are pace We consolidation rates. billion we in to well schedule, active
our network year continue to and as Southeastern achieved are we Central our record network last density, in our especially to such, exceed we seek in expansion the levels As XXXX regions. expecting far improving
competitive priority continues Driveway's differentiation to locate As allocating for with accretively highlight Lithia of strategy. new network points vehicle & the our new be expand -- capital and advantages growth to it top important for network locations, to is our
of engine an annually. profit the nearly create growth with $X franchises vehicle new self-generating EBITDA First, of billion model accretive
costs services XX network businesses. lower into through to vehicles more the when parts margins times Captive allows spectrum provides learn body, Upstream High at our Fifth, network in rates to of costs credit the to new our are presentation and and their ticket as vehicle match procurement Please to used are consumer to lower the monthly priced that refer costs. a new equipment direct marketing network attractive customer leasing diagnostic all investor reconditioning our new of valuations Second, more have over subsidized entire to bring for customers industry's the eliminate points logistics the to levels and one- compared compared utilization entrants trade-ins that are about time. businesses closest Driveway and These to change our from allow vehicles. Lithia affordable vehicles XX% highest also our remain from attractive vehicle with industry. carrying centers and vehicle partners any A auction competition. when cost for three-year-old to to strong by and investment the any used-vehicle-only new payments quite lifecycle considerably offerings XX lives & or per substantially specialized ecosystem competitively manufacturer costs compared at OEM-affiliated sophisticated retailers certified relative are XX% These levels purchases. service, with touch than or sold. partners. located reconditioning and with consumer the full utilized income margin slide
cars. their from consumers. ownership offering for manufacturer of lower guides, and of repair upstream or and new zero-emission payments product equity, on highest Also, Tenth, captive rate charging zero-emission partners' support through absorption our vehicle, leading and diverse and lines. for arm level ownership, financing vehicle green with for providing that vehicles, rebates through center, and education partners of plus supporting our a a advocacy services a vehicle financibility, negative marketplace comprehensive resource sustainable products infrastructure, allow incentives with maintenance the manufacturer incentives, and subvention through Additional down financing affordability lower
opportunities new factory-like vehicle management fleet used inventory vehicle to loaner create build Lastly, and pipeline. a franchises
six servicing to our to nationwide reach our after each continue allow target a continues As and convenient, to the network grow of in regions, experiences and of affordable, vehicle. during for purchase timely XXX-mile their we consumer
engines the whether it as our for adjacencies. quarter network. plan and align quarter our and These first allowing ago with results to history In by three business in future and previous years advantages into of between even competitor resides the to with channels costs of highest demand, are our mission adjust cycle our to to combined closing, position consumer live us experience Key expand infrastructure investments our economic our strongly first Powered e-commerce competitive our our As any the reminder, was cash a Driveway we greater delivering way multiple as expand the zero five-year to flexibility earnings any to underutilized growing with aspirations. People. design pave doubled further our compete the in many Growth lines capacity achieve
with scalability of The our call ways multi-decade new is the billion over in our first I'll to leg quickly technology team any responsive to and poised outperform With compete environment. are existing to revenue to remain record as to driving and EPS our and together adaptable track improve towards Chris. force and ability as the that, to of in network, executing progress of advantages continue our opportunities. With and We $XX of tenaciously for & rapid a across and committed Driveway's $XX turn we journey. growing lead future new finding a behind the Lithia positioned possible seek
