The Oregon Biz Report - Business News from Oregon

June 2, 2008

Oregon based Lithia Motors Inc. has announced plans to close 10 to 15 of its 110 stores in light of rising oil prices for the past five years. The rising oil prices is shifting their inventory to smaller cars and more fuel efficient cars.

The company aims to save $18 million over this next year due to the reduction.

Lithia Motors began in Ashland in 1946 and is one of the nation’s largest automotive retailers featuring most domestic and import franchises.