Lithia Motors Reports Record Second Quarter

Lithia Motors is reporting record quarterly earnings in a report released this morning. During the second quarter this year, the auto retailer reported $20.5 million in revenue, up substantially from $14.7 million at the same time last year.

Corporate officials say the company’s performance was strong across a variety of product lines. New vehicle sales were up 34%, used vehicles 20%. Service, body and parts were up 7%.

Lithia President and CEO Bryan DeBoer says “I’m proud of the results our team delivered in the second quarter. With that said, we still have opportunities in all facets of our business and our leaders continue to identify areas where performance can improve. Additionally, in many of our western markets, the new vehicle sales recovery has lagged national levels. This factor will serve as a future catalyst for growth.”