Lithia Motors has acquired Mercedes-Benz of Jackson (Miss.) and Mercedes-Benz of Collier (Tenn.) from the Higginbotham family in a deal brokered by the Presidio Group. +

The Commerce Department reports the U.S. real gross domestic product increased 3.1% year-over-year in the third quarter, with retail trade serving as the lead contributor in 39 states. +