agent Entrepreneur logo
MenuMENU
SearchSEARCH

Lithia Gets Boost from Used-car Sales, but Chrysler Business Suffers

February 27, 2010
1 min to read


DETROIT - Used-car sales helped Lithia Motors Inc. post improved earnings and revenue during the fourth quarter, Automotive News reported. The dealership group said yesterday that it posted net income of $2.8 million, compared with a net loss of $1.5 million in the same period in 2008. Lithia also said it generated fourth-quarter revenue of $419 million, up 4.9 percent from $399 million in the same period the year before. Problems at Lithia’s biggest manufacturer partner, Chrysler Group, created severe sales challenges, according to the retailer’s report. Chrysler brands accounted for 23.7 percent of Lithia’s new-vehicle unit sales during the quarter, down from 35.9 percent of vehicle sales during the fourth quarter of 2008. “Our fourth-quarter results were impacted by weak new-vehicle sales at our Chrysler stores,” CEO Sid DeBoer said in a statement. “This was caused by the delay in the release of new products like the 2010 Ram heavy-duty pickup and lower advertising and incentive spending by Chrysler which slowed floor traffic.” DeBoer also said Lithia responded by focusing on increasing used-vehicle sales at the affected locations. “Excluding Chrysler, we had approximately 18.5 percent new-vehicle same-store sales growth over the fourth quarter of 2008,” he said in the statement. “On an adjusted basis, we were profitable in the fourth quarter despite significant headwinds.”

More Industry

Two white men's shaking hands
Industry•October 15, 2026

Penske Auto Group Deal a Record

The deal to take the dealership and transportation services company private sets a new pace for industry buy-sell transactions.

Read More →
Rows of cars parked in exterior lot
Industry•by Hannah Mitchell•October 8, 2026

War Toll a Damper on Used Auto Prices

Cox Automotive found wholesale depreciation to be elevated in September amid high fuel prices and this year's unusual hurricane season.

Read More →
Mechanic cleaning interior of engine
Industry•by Lauren Lawrence•October 8, 2026

Bridge the Maintenance Gap

With many drivers missing recommended maintenance, service departments offering transparency and efficiency have a better chance of reaching financially strained consumers.

Read More →
Ad Loading...
Ford F-150 truck rounding a curve
Industry•by Hannah Mitchell•October 1, 2026

California Store Has New Owner

The longtime dealership in the northern part of the state is known for robust fleet sales and has served the state capital for 115 years.

Read More →
crane lowering a pipeline into the ground
Industry•by Lauren Lawrence•October 1, 2026

BMW Plant Pursues Cleaner Energy

BMW Group Plant Leipzig has utilized hydrogen to help power its production since 2013, but a new pipeline is planned to take it to another level.

Read More →
Two dodge cars outside of dealership.
Industry•by Lauren Lawrence•September 17, 2026

Auto Affordability Inches Up

The latest Cox Automotive and Moody’s Analytics index shows a slight increase in new-vehicle affordability despite high prices.

Read More →
Ad Loading...
Five men smiling for photo in front of Honda car dealership.
Industry•by Lauren Lawrence•September 10, 2026

Ohio Auto Group Under New Ownership

After 79 years with the Schluter family, Mansfield Auto Group has been acquired by Missouri-based Clement Auto Group.

Read More →
Blue and white RV parked on beach facing the ocean.
Industry•by Lauren Lawrence•September 3, 2026

RV Group Expands Carolina Footprint

Blue Compass RV Columbia Northeast is the 13th RV dealership owned by Blue Compass in the Carolinas.

Read More →
Photo of two men and one woman on a discussion panel
Industry•by Hannah Mitchell•September 1, 2026

Agent Acumen

An Agent Summit panel of people who’ve been supporting auto dealers for years gave both timely and timeless advice for those starting out or mulling the prospect.

Read More →
Ad Loading...
Gloved hand holding two wrenches next to “Turn Overdue into Opportunity” Graphic
Industry•by Lauren Lawrence•August 27, 2026

Missed Maintenance Creates Opportunity

As families get back on the road and into daily school routines, service drives have an opportunity to capture customers who are behind on recommended vehicle maintenance.

Read More →
Ad Loading...