Automotive
Lithia Motors Reports Doubled Income For Q1
People are going back to work, getting their tax returns, and looking for better gas mileage. In spite of reduced supply, the high profits are still available to dealers with the right inventory.
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The third-largest US dealer group, Lithia Motors, reported its Q1 net income shot up 119%. New and used vehicle sales increased by 23%, and the average price rose by 16% for new and 32% for used sales.
Reach. The group currently represents 267 US dealerships and another 13 in Canada.
