FORT LAUDERDALE, FL, July 12, 2021 (GLOBE NEWSWIRE) -- LMP Automotive Holdings, Inc. (NASDAQ: LMPX) ("LMP" or the "Company"), an e-commerce and facilities-based automotive retailer in the United States, today Announced Senior Management Addition.

Amanda Bailes, a senior executive in accounting and finance with 20 years of experience in public and private industry accounting, has been hired as Senior Automotive Controller of LMP. Ms. Bailes will be responsible for directing and coordinating all dealership accounting operational functions, managing the accumulation and consolidation of all financial data necessary for reporting accurate and timely business results, and will manage the Company's Human Resources Department. Prior to joining the Company, Mrs. Bailes was Chief Financial Officer of Mustang Holdings, Inc. from 2012 to 2021. Between 2007 and 2012, Mrs. Bailes was Comptroller, Corporate Secretary/Treasurer of Smith Company Motor Cars. Prior to 2007, Ms. Bailes was a manager with the accounting firm of Dixon Hughes Goodman LLP. Ms. Bailes is a Certified Public Accountant and has a BSBA in Accounting from West Virginia University and a Master's Degree in Industrial and Employee Relations from Marshall University in West Virginia.

Robert Bellaflores, the Company's Chief Financial Officer commented, "I would like to welcome Mrs. Bailes to the LMP accounting team. LMP plans to continue to promote and recruit best of breed talent within our organization as well as externally in these record setting times, while maintaining operational excellence and impressive earnings growth."

Mrs. Bailes will assume the role of Senior Automotive Controller effective July 19, 2021 and report directly to Mr. Bellaflores.

ABOUT LMP AUTOMOTIVE HOLDINGS, INC.

LMP Automotive Holdings, Inc. (NASDAQ: LMPX) is a growth company with a long-term plan to profitably consolidate and partner with automotive dealership groups in the United States. We offer 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.