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Lithia Motors' first-quarter net grew on strong service and parts and finance results, despite a drop in new-vehicle sales and narrowing gross profit margins.
Lithia Motors wants to be in all regions of the U.S. and eventually cross the border to Canada as it gains scale for a changing future.
Lithia Motors, the fourth-largest dealership group based in the United States, may climb in Automotive News' rankings in part because of acquisitions.
Lithia Motors bought six stores from Prestige Family of Fine Cars group in New Jersey, further expanding its East Coast presence and adding $900 million in revenue.
Lithia Motors expanded its presence in Pittsburgh with the purchase of Day Automotive Group. Day is estimated to generate $340 million in annual revenue.
Lithia Motors' fourth-quarter net income surged on special gains, particularly from tax-law changes, and record revenue.
Of the six publicly traded new-vehicle dealership groups, Lithia Motors — which prioritized US acquisitions over share buybacks — has drawn the most applause from Wall Street.
Public dealership groups had a mixed third quarter, depending on how hard they were hit by hurricanes. But all predicted a robust fourth quarter. Here's why.
Lithia Motors' acquisitions pushed revenue up sharply in the third quarter, but higher costs and comparison against a strong 2016 pushed net down 4 percent.
On the heels of one of its biggest deals yet, Lithia Motors plans to keep up its aggressive acquisition pace.
Lithia Motors is looking to buy a majority stake in dealerships run by minority dealers who need an investor's backing.
Lithia Motors said it bought Downtown Los Angeles Auto Group, also known as Shammas Automotive Group, adding $1 billion in annual revenue.
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