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Lithia Motors’ Customer-Pay Sales Up 8.9% In Q2

Lithia Motors (Medford, OR) reported double-digit gains in its service, body and parts business in the second quarter of 2013. Sales increased 10.5 percent to $94.46 million, while gross profit rose 12 percent to $46.69 million. Service, body and parts gross margin increased 60 basis points to 49.4 percent.

Same-store service, body and parts sales increased 7 percent to $91.45 million.

Lithia’s customer-pay business saw sales climb 8.9 percent to $53.24 million (same-store sales up 4.9 percent). This marked the 16th consecutive quarter of gains. Wholesale parts sales rose 8.8 percent to $16.92 million (same-store sales up 5.9 percent), while body shop sales increased 2.9 percent to $8.60 million (same-store sales up 2.9 percent). Warranty sales grew 24 percent to $15.71 million (same-store sales up 19.4 percent).

Same-store service, body and parts gross profit rose 8.2 percent to $44.10 million.

Lithia is the ninth largest automotive retailer in the United States, selling 27 brands of new vehicles and all brands of used vehicles at 91 stores in 11 states.

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