Lithia Sales Rise in June

By Staff Writer July 09, 2020

Lithia Motors Inc. reported significant improvements across all business lines in June compared to the results previously reported for April and May.

For the month of June, total same-store vehicle unit sales increased approximately 3 percent, with same store new vehicle units decreasing approximately 15 percent and same store used vehicle units increasing approximately 23 percent over the same period last year. Service, body, and parts reflected a strong recovery in June, with same store sales decreasing approximately 3 percent for the month. The recovery trend in service, body, and parts for the month reflected two more production days in 2020 compared to the same period last year. Same store web traffic, representing unique visitors to our websites, increased nearly 53 percent for the entire month of June compared to the same period a year ago.

“The notable improvements throughout all business lines are representative of our team’s continuous commitment to providing consumers safe, convenient and affordable solutions wherever, whenever and however they desire,” said Bryan DeBoer, president and CEO. “Lithia is primed for the second half of 2020 with the expansion of our proprietary ecommerce home channel and the further acceleration of our growth strategy.”

Lithia also announced the acquisition of the Smolich Chrysler Jeep Dodge Ram and Nissan locations in Bend, Ore., which are anticipated to generate $100 million in steady state annualized revenues.

“As the automotive retail environment continues to show significant sequential improvements, we have restarted acquisitions, completing the first two pending acquisitions,” said DeBoer. “Growth of our network is the foundation to the fulfillment of our current and future brand promises, regional logistics plan and ability to provide competitive customer offerings through all six business lines.”

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Last modified on Friday, 10 July 2020 14:21

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