LMP Automotive Holdings, Inc. today announced it has closed on the sale of its KIA and Subaru Dealerships in Mount Hope, WV and Provided a Corporate Update
March 31 2023 - 3:00PM
LMP Automotive Holdings, Inc. (“LMP” or the “Company”), an
e-commerce and facilities-based automotive retailer in the United
States, today announced it has closed on the sale of its KIA and
Subaru dealerships in Mount Hope, WV.
ABOUT LMP AUTOMOTIVE HOLDINGS,
INC. LMP Automotive Holdings, Inc. offers a wide array of
products and services fulfilling the entire vehicle ownership
lifecycle, including new and used vehicles, finance and insurance
products and automotive repair and maintenance.Our proprietary
e-commerce technology and strategy are designed to disrupt the
industry by leveraging our experienced teams, growing selection of
owned inventories and physical logistics network. We seek to
provide customers with a seamless experience both online and in
person. Our physical logistics network enables us to provide
convenient free delivery points for customers and provide services
throughout the entire ownership life cycle. We use digital
technologies to lower our customer acquisition costs, achieve
operational efficiencies and generate additional revenues. Our
unique growth model generates significant cash flows, which funds
our innovation and expansion into new geographical markets, along
with strategically building out dealership networks, creating
personal transportation solutions that consumers desire.
Investor Relations:
investors@lmpah.com
FORWARD-LOOKING STATEMENTS:
This press release may contain “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, each as
amended. Such statements include, but are not limited to, any
statements relating to our expectations, beliefs, projections,
future plans and strategies, anticipated events or trends and
similar matters that are not historical facts. These statements may
be preceded by, followed by or include the words “aim,”
“anticipate,” “believe,” “estimate,” “expect,” “forecast,”
“intend,” “likely,” “outlook,” “plan,” “potential,” “project,”
“projection,” “seek,” “can,” “could,” “may,” “should,” “would,”
will,” the negatives thereof and other words and terms of similar
meanings. These forward-looking statements are based on the
Company’s current expectations and beliefs concerning future
developments and their potential effects on the Company or any
successor entity of the transaction and include statements
concerning the expected timing of closing the transaction. Many
factors could cause actual future events to differ materially from
the forward-looking statements in this press release, including but
not limited to: (i) the risk that the Company is unable to enter
into sales agreements with respect to the Terminated Dealerships in
a timely manner or at all, or on favorable terms, (ii) the effect
of the announcement or pendency of the Plan of Liquidation on the
Company’s business relationships, operating results and business
generally, (iii) the inability of the Company to complete the Plan
of Liquidation and distribute proceeds to stockholders. There is no
assurance that any forward-looking statements will materialize. You
are cautioned not to place undue reliance on forward-looking
statements, which reflect expectations only as of this date. We
expressly disclaim any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in our expectations or any
changes in events, conditions or circumstances on which any such
statement is based, except as required by law.
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