Lithia back on track

Lithia Motors’ first-quarter revenue improves thanks to increased new car demand.

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Lithia Motors’ revenue in the first quarter of 2010 reached $463 million, up 13.4%.

Rising demand for new vehicles was a key contributor to the Medford company’s growth, with same-store new vehicle sales increasing 11.5% compared to the same period last year.

“We continued to improve solidly throughout the quarter locally and nationally,” Lithia Chairman and Chief Executive Officer Sid DeBoer said Tuesday.

“We have a very good market share. Even with unemployment high, the consumer returned to the new vehicle market and credit constraints that were around in 2009 were reduced.”

Read the full story at the Mail Tribune.

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