Lithia Motors reports lower first-quarter profits

Newswire

DETROIT, April 25 (Reuters) - Car dealer Lithia Motors Inc. on Friday said its first-quarter earnings fell due to slower sales and weak prices on used cars. Lithia, which operates 73 stores and 140 franchises in the central and western United States, said it earned $4.2 million, or 23 cents a share, compared with earnings of $6.4 million or 42 cents a share in the first quarter a year ago. Revenues rose 11 percent to $583.5 million. Lithia, based in Medford, Oregon, had lowered its ...

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