Lithia Motors produced an 11-percent gain in same-store used-vehicle retail sales during both the fourth quarter and for the full year, according to the dealer group’s recently released financial statement.

The company said it turned 28,715 used vehicles during Q4 and 113,498 used units during the calendar year, which represented year-over-year gains of 19.6 percent and 14.5 percent, respectively.

While Lithia watched its used department retail more vehicles, the dealer group struggled to keep gross profit like many other operations. Lithia said its overall gross on used-vehicle retail sales came in at $2,207 in Q4 and $2,323 for the year. The figures marked year-over-year softening by $160 and $111, respectively.

But also like other publicly traded dealers group generated, Lithia also posted what turned out to be record-setting performance in the F&I office. Lithia’s F&I gross profit climbed by $69 to $1,257 during Q4. For the year, the company’s F&I gross jumped $80 to $1,276.

“We increased same store sales in all core business lines, including double-digit growth in used vehicle sales and record performance in F&I,” Lithia president and chief executive officer Bryan DeBoer said in a news release.

“Our store leaders remain focused on capturing incremental used vehicle sales and driving additional service work,” continued DeBoer, who added that 60 locations attained record profitability in 2016, “while significant opportunities remain in the roughly 90 stores that did not achieve record performance this year.

“We will continue to target gaining market share and controlling costs to improve store performance in 2017 and beyond,” he went on to say.

Fueled in part by what happened with used vehicle and F&I, Lithia also reported the highest fourth-quarter and full-year revenue and earnings per share in company history.

The company’s Q4 net income per diluted share increased 13 percent to $2.03 from $1.80 during the same period in 2015. For all of 2016, the company’s net income per diluted share rose 12 percent to $7.72, up from $6.91.

On the revenue side, Lithia made year-over-year gains of 15.0 percent in Q4 and 10.3 percent by year end, generating $8.68 billion.

As far as expectations for 2017, Lithia’s guidance included used-vehicle same store sales increasing 5.5 percent and gross margin on those turns of 11.5 percent to 11.7 percent. The company also is projecting F&I gross profit of $1,270 to $1,295 per unit.