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Lithia’s Customer-Pay Revenue Up 7% In Q4

Lithia Motors’ service, body and parts operations saw its revenue increase 12.4 percent to $100.80 million in the fourth quarter of 2013. Same-store revenue was up 7.9 percent on top of an 8-percent increase a year ago. Customer-pay revenue increased 7 percent, which marked the 18th consecutive quarter of improvement. Warranty sales increased 16 percent, which was the fifth consecutive quarter of improvement. Wholesale parts increased 9 percent, while body shop decreased 2 percent.

Looking ahead, management expects Lithia’s service, body and parts same-store sales to increase 7 percent in 2014, with service, body and parts gross margin coming in between 48.2 percent and 48.4 percent.

Medford, OR-based Lithia Motors is the ninth largest automotive retailer in the United States, selling 28 brands of new vehicles and all brands of used vehicles at 96 stores across 12 states.

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