Medford-based Lithia Motors saw an increase in revenue in the second quarter of 2010, with a 19% rise up to $534 million from $444 million a year earlier.
The company's vehicle sales increased for the fourth quarter in a row, but real estate holdings fell.
Same-store retail sales of new vehicles grew 26 percent and used-vehicle sales increased 15 percent as Lithia's continuing operations netted 27 cents per share, compared to 22 cents a year ago. During the quarter, Lithia sold 8,700 new vehicles and 8,700 used vehicles.
However, real estate issues led to a $1.5 million — or 6 cents per share — loss for the quarter compared with a $2.5 million, or 12 cents per share, profit for the second quarter of 2009
Read more at Ashland Daily Tidings.
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