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Lithia Motors’ Customer-Pay Comps Up 5% In Q1

Lithia Motors’ service, body and parts revenue increased $6.90 million, or 8.3 percent, to $90.44 million in the first quarter of 2013, as management maintained its focus on retaining customers by offering competitively priced routine maintenance and increased marketing efforts. Same-store service, body and parts sales rose 6.5 percent to $87.75 million, despite two fewer selling days in 2013 compared to 2012.

Same-store wholesale parts increased 5 percent, while body shop sales rose 12 percent. Customer-pay work increased 5 percent, which was the 15th consecutive quarter of same-store sales improvement. Warranty sales increased more than 9 percent for the second consecutive quarter, suggesting that the number of vehicles eligible for warranty repair is growing.

Service, body and parts gross profit increased 9.1 percent to $43.78 million, while gross margin grew 40 basis points to 48.4 percent on a year-over-year basis.

Lithia sells 27 brands of new vehicles and all brands of used vehicles at 88 stores across 11 states.

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