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April 27, 2017 - Industry News

Lithia: More Acquisitions, More F&I Money

Lithia Motors’ first-quarter results include continued gains in F&I penetrations and revenue, a result the dealer group credits to its aggressive acquisition strategy.

Tags: F&I products, fixed operations, Lithia Motors, used-vehicle sales, used-vehicle values

October 27, 2016 - Industry News

Lithia: Right People, Pay Plans and Product Deliver Record F&I Performance in Q3

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.

Tags: F&I, Financial Report, Lithia Motors, Third Quarter

September 14, 2016 - Industry News

Lithia Motors Acquires Carbone Auto Group

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.

Tags: Acquisition, Carbone Auto Group, Dealer Group, Lithia Motors

January 28, 2016 - Industry News

GM, Jim Koons and Lithia Settle FTC’s Complaints Regarding CPO Claims

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.

Tags: Deceptive Advertising, Federal Trade Commission, FTC, General Motors, Jim Koons Automotive, Lithia Motors

April 23, 2015 - Industry News

Lithia’s Drop in New-Vehicle Gross Per Unit Offset by Q1 F&I Performance

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.

Tags: F&I profit, First Quarter, Lithia, Lithia Motors, Quarterly Earnings

August 28, 2014 - Industry News

Auto Dealership Buy-Sell Activity Increasing Sharply, Haig Reports

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.

Tags: Acquisition, Lithia Motors, Profitability

July 24, 2014 - Industry News

Lithia Reports Record Net Income

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.

Tags: F&I products, F&I profit, Lithia Motors, Quarterly Earnings

June 17, 2014 - Industry News

Lithia Motors to Acquire DCH Auto

In 2011, F&I and Showroom honored Lithia Motors with its annual F&I Dealer of the Year award. Pictured (L-R) is Steve Justice, Lithia Motors’ sales and finance operations manager, Gary Richardson, assistant vice president of sales and finance, Bryan DeBoer, president, Scott Hillier, executive vice president of retail operations, Chris Holzshu, CFO, and Mike Fealey, F&I operations.

Lithia will acquire 100% of DCH Auto Group Inc.'s outstanding shares, bringing together two of the largest dealer groups in the nation.

Tags: Acquisition, Lithia Motors

February 20, 2014 - Industry News

Lithia Posts Record Revenues for 2013

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.

Tags: F&I, Lithia, Lithia Motors, new-vehicle sales, Quarterly Earnings

January 14, 2014 - Industry News

Lithia Headquarters Awarded Silver LEED Certification

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.

Tags: environmental protection, Lithia Motors

October 24, 2013 - Industry News

Public Groups Report Solid F&I Performance for Q3

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.

Tags: Asbury Automotive, Brittany-Marie Swanson, F&I, Lithia Motors, Quarterly Earnings, Sonic Automotive

February 21, 2013 - Industry News

Major Dealer Groups Prepare to Top Records Set in 2012

Most of the major dealer groups posted big gains in the fourth quarter and for the full-year 2012. One group reached an all-time high of $1,215 in F&I gross profit per retail unit.

Tags: 2012, annual, Asbury Automotive, AutoNation, F&I, Finance, Fourth Quarter, Group1 Automotive, insurance, Lithia Motors, Penske Automotive Group, Revenue, Sonic Automotive

October 25, 2012 - Industry News

Profits Rise 48 Percent for Lithia

Lithia reported higher profits and revenues for the third quarter. Highlights include a 36.4 percent increase in F&I revenues.

Tags: F&I, Lithia Motors, profit, Quarterly Earnings, Revenue, Third Quarter

July 26, 2012 - Industry News

Profits Rise for Lithia, Group 1

F&I performance helped both dealer groups realize strong profit gains in the second quarter, with Group 1 realizing another record-setting quarter in finance and insurance.

Tags: Bryan DeBoer, Earl J. Hesterberg, EPS, F&I, Group 1 Automotive, Lithia Motors, product penetration, PRU, Q2 2012

February 23, 2012 - Industry News

Lithia Reports Doubled Earnings in 2011

Lithia Motors Inc. reported the highest fourth quarter net income in company history, and more than doubled earnings for the fourth quarter and full-year 2011 vs. last year.

Tags: Lithia Motors

October 4, 2011 - Industry News

Lithia Named 2011 F&I Dealer of the Year

F&I and Showroom magazine named Lithia Motors Inc. as its 2011 F&I Dealer of the Year. The award was presented to Steve Justice, the organization’s F&I training manager, at the magazine’s Industry Summit 2011.

Tags: F&I Dealer of the Year, Lithia Motors

October 4, 2011 - Industry News

Lithia Motors Completes New $200 Million Credit Agreement

Lithia Motors Inc.’s new $200 million three-year revolving syndicated credit facility will provide $100 million for new-vehicle floorplan financing and $100 million for general corporate purposes.

Tags: banks, Credit, Floorplan Financing, Lithia Motors

August 8, 2011 - Industry News

The Warranty Group, Lithia Motors Extend Service Contract Deal

The Warranty Group Inc. announced that Lithia Motors has extended its agreement with the F&I product provider and will continue offering The Warranty Group’s service contract offerings.

Tags: F&I products, Lithia Motors, Service Contracts, The Warranty Group

April 28, 2011 - Industry News

Lithia Motors Posts $9.1 Million in 1Q Income

Lithia Motors Inc. reported on Wednesday adjusted first quarter 2011 net income from continuing operations of $9.1 million, up from $2.3 million in the year-ago period.

Tags: F&I income, Lithia Motors, new-vehicle sales, used vehicles

October 30, 2009 - Industry News

Lithia Motors Posts 3Q Profit

Lithia Motors Inc. posted a third-quarter profit of $7 million from continuing operations, an increase from the $2.5 million recorded in the year-ago period.

Tags: Lithia Motors, Vehicle Sales

July 31, 2009 - Industry News

Lithia Motors Reports Profitable Second Quarter

Lithia Motors Inc. announced that net income from continuing operations in the second quarter of 2009 was $4.1 million, compared to net loss from continuing operations of $201.2 million.

Tags: Lithia Motors

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