Correction -- GM and Lithia Reach Agreement Concerning Hiawatha, IA Franchise
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MEDFORD, OR, May 12, 2010 (MARKETWIRE via COMTEX) --Lithia Motors, Inc. (NYSE: LAD) - An article written for The Gazette, Cedar Rapids, Iowa, incorrectly stated that Buick GMC Cadillac of North Cedar Rapids, Iowa had their franchise agreement reinstated as a result of arbitration proceedings. This is not correct. General Motors elected to extend the franchise after reaching a mutually acceptable agreement with Lithia Motors, Inc. Through conversation between General Motors and Lithia executives, GM decided not to terminate the franchise as planned. This agreement was reached with the cooperation and understanding by General Motors that the customers in this market would be well served by continuing this franchise. About Lithia Lithia Motors, Inc. is the ninth largest automotive retailer in the United States and a Fortune 800 company. Lithia sells 26 brands of new and all brands of used vehicles at 84 stores, which are located in 12 states. Lithia also sells used vehicles; arranges finance, warranty, and credit insurance contracts; and provides vehicle parts, maintenance, and repair services at all of its locations. Additional Information For additional information on this matter, please contact Polly Ficek at 541-776-6559. For additional information on Lithia Motors, contact the Investor Relations Department: 541-776-6591 or visit www.lithia.com and click on "Investor Relations." Sites www.lithia.com www.lithiacares.com www.lithiajobs.com Lithia Motors on Facebook http://www.facebook.com/LithiaMotors Lithia Life on Facebook http://www.facebook.com/pages/Lithia-Lifecom/34360183908?ref=ts Lithia Life on YouTube http://www.youtube.com/user/LithiaLife Lithia Life on Twitter http://twitter.com/LithiaLife Lithia Motors SOURCE: Lithia Motors
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