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.
We encourage you to add your comments below concerning this article.