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Lithia Motors’ Wholesale Parts Revenue Grew 23.6%, Customer-Pay Revenue Up 20.6% In Q1

Lithia Motors of Medford, OR saw its service, body and parts sales rise 17.2 percent to $86.45 million in the first quarter of 2012. Wholesale parts revenue increased 23.6 percent to $16.61 million, while customer-pay revenue grew 20.6 percent to $48.09 million. Body shop revenue rose 13 percent to $8.43 million, and warranty revenue increased 2.6 percent to $13.32 million.

Same-store service, body and parts sales were up 4.7 percent on a year-over-year basis. Same-store customer-pay sales were up 6.3 percent as Lithia focused on retaining customers through competitively priced routine maintenance offerings and increased marketing efforts. Same-store wholesale parts sales were up 11 percent, while body shop was up 12.9 percent.

Same-store warranty sales were down 11.8 percent. Management attributed the drop to declining units in operation from 2008, 2009 and 2010, as well as increased warranty work a year ago associated with Toyota recalls.

Service, body and parts gross profit increased 16.3 percent to $41.59 million.

Lithia is the ninth largest automotive retailer in the United States with 83 locations across 11 states.

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