In Q2 2024, Lithia Motors Inc. reported revenues of $9.2bn, up 14%, in the growing U.S. used car market.
Lithia Motors Inc. (LAD) operates 299 dealerships in the U.S. and reported Q2 2024 revenues of $9.2 billion, up 14%. The U.S. used car market, with 36.1 million units in 2023, is forecasted to grow at 3.5% annually. Despite declining values, demand remains stable. The Federal Reserve's recent rate cut may boost new sales, but high auto loan rates persist. Hedge funds favor several stocks, including Lithia, Penske Automotive, and CarGurus, for investment in this evolving market.
October 13, 2024
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