Lithia purchases Tony Chevrolet

MAT-SU -- Lithia has purchased both Tony Chevrolet Wasilla and Tony Chevrolet Anchorage, allowing Lithia to reach into the Mat-Su market along with furthering its market area in Anchorage and the rest of the state.

"We're very familiar with the Alaska market, it's been a great performer for us," said Dan Retzlaff, Lithia director of investor relations.

The acquisition of Tony Chevrolet Wasilla is Lithia's 82nd dealership in 12 states. Lithia also owns a Chrysler Jeep and Dodge dealership in Anchorage, along with another Chevrolet dealership in Fairbanks.

"We like Alaska a lot, it's a lot like operating here in southern Oregon," Retzlaff said.

Lithia started with its first car lot in Ashland, Ore., in 1946, and became a publicly traded company in 1996.

Retzlaff couldn't say how long Lithia had been considering purchasing Tony Chevrolet Wasilla, but estimated that most acquisitions take a two-year process. Lithia has been in business in Alaska since 2001.

Tony Chevrolet Wasilla officially became Chevrolet of Wasilla late last week. Retzlaff said Lithia's management plans to continue sell both used and new vehicles at the Park's Highway location, along with implementing Lithia's promo-pricing strategy, which Retzlaff said will reduce sale time and provide a more customer-friendly approach to vehicle sales.

"I hope we can do good, good things for Wasilla," Retzlaff said.

Retzlaff said most employees who worked for Tony Chevrolet will remain employed with Lithia. The store reopened as Chevrolet of Wasilla on May 3.

Contact Jen Ransom at jen.ransom@frontiersman.com.