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Lithia Motors

AutoNation, Sonic Set Records as Publics Grow PVR

All six of America’s big publicly traded dealership groups enjoyed year-over-year gains in F&I profit per vehicle retailed in Q3, led by record highs at AutoNation and Sonic Automotive.

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AutoNation Nears $2,000 PVR as Big Groups Grow F&I

The nation’s six largest publicly traded dealer groups all increased F&I profit per vehicle retailed in the second quarter, led by AutoNation’s $1,926 per copy and Lithia Motors’ segment-leading 11% improvement.

Lithia Buys Honda Store From Saporito, Armstead

Lithia Motors has purchased Central New Jersey’s Hamilton Honda from Michael Saporito, who will remain as dealer, and former NFL linebacker Jessie Armstead.

Carvana Crashes Used-Vehicle Dealer Rankings

Carvana broke into the top 10 in its first appearance on Automotive News’ list of the nation's Top 100 Used Retailers, more than doubling its output to more than 94,000 units and outpacing the Asbury, Larry H. Miller, and Ken Garff groups.

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.

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.

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.

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.

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.

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.