Lithia Motors of Medford, Ore., one of the nation's largest publicy traded auto dealership groups, bought Ray Laks Honda at 3590 Southwestern Blvd. in Orchard Park and Ray Laks Acura at 7440-7460 Transit Rd. in Amherst.
The purchase price for the property itself was $10 million, including $6.5 million for the 8.45-acre Honda dealership and $3.5 million for the 2.58-acre Acura lot. The Honda property was assessed at $1.74 million, while the Acura was listed in tax records at $1.9 million. The full purchase price for the entire business was not disclosed.
Founded in 1946 by Walt DeBoer as a Chrysler-Plymouth-Dodge dealership, Lithia today operates 166 dealerships across 18 states, employing more than 13,300. It sells over 30 brands of new cars and all brands of used cars, and had an inventory of 1.9 million cars at the end of the third quarter of 2017, according to Securities and Exchange Commission documents.
The company, part of the Fortune 500, bought two dealerships last year and eight in 2016, including Utica-based Carbone Automotove Group. It is currently led by CEO Bryan DeBoer.
Lithia's purchase came just two days before Northtown paid $8 million for the dealer lot and service center of Zeigler Honda, formerly Don Davis Honda, located at 2215 and 2277 Niagara Falls Blvd. As with the Lithia purchase, the full price of the entire business was not revealed.