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Record-setting F&I, a strong used-vehicle segment, and gains in parts and service paved the way for a year-over-year improvement in total gross profit for Lithia Motors during the period.
Read More →Lithia Motors Inc. has acquired Carbone Auto Group, a New York- and Vermont-based dealer group that generates an estimated $600 million in annual revenue, according to a company announcement. The purchase adds 13 stores to Lithia's portfolio.
Read More →The regulator said the three companies agreed to settle its charges that they failed to disclose that some certified pre-owned vehicles were subject to open and unrepaired safety recalls despite claims of rigorous inspections in advertisements.
Read More →Lithia’s F&I operations grew its per-copy average by $52. The performance helped offset a $90 drop in new-vehicle gross profit per unit.
Read More →Public U.S. auto dealers are on pace to book $1 billion in acquisitions for the year, which would be an increase of 43% from 2013, according to a report from Haig Partners.
Read More →The dealer group realized a 28% increase in adjusted net income from continuing operations in the second quarter of 2014. The company’s average F&I profit per vehicle retailed was also up $104.
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Lithia will acquire 100% of DCH Auto Group Inc.'s outstanding shares, bringing together two of the largest dealer groups in the nation.
Read More →The company’s revenues exceeded $1 billion in the fourth quarter and $4 billion for the full year. Its F&I operations also posted increases in F&I penetrations and profit per retail unit.
Read More →The building housing Lithia Motors’ headquarters was awarded Silver LEED Certification by the U.S. Green Building Council. The building, completed in August 2012, contains environmentally-sustainable building products, furniture and furnishings.
Read More →Lithia officials said the group is focused on increasing F&I performance, while officials with Sonic announced the launch of a new initiative that will have “guest advocates” handle transactions from start to finish. Asbury reported a per-copy average of $1,305 during the third quarter.
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