Q2 Strong for 2 Major Dealers and Used Cars Make for Big Part of It

Two major deal­er­ship net­works saw strong finan­cials in the sec­ond quar­ter of this year, and used vehi­cle sales were a big part of their suc­cess. Lithia Motors, Inc. just report­ed used vehi­cle retail same store sales increased 19%, help­ing income to increase dur­ing the quar­ter.

Lithia stressed the impor­tance of trade-ins to deal­ers for its strong sec­ond quar­ter results in used vehi­cle sales. Lithia Motors focused on acquir­ing more trade-ins for its stores in an effort to con­tin­ue its growth.

Son­ic Auto­mo­tive Inc. saw a 32% increase in sec­ond-quar­ter net income on a recov­er­ing new car mar­ket and record used-vehi­cle vol­ume. Son­ic sold 34,396 new vehi­cles in the quar­ter, up from 28,125 a year ear­li­er. Used-vehi­cle sales rose to 27,528 from 26,799 for the third-largest U.S. auto deal­er group.

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