In addition to announcing the acquisition of a Nissan store in California late last week, Lithia Motors shared a sneak peek Monday of what its third-quarter results might entail, including some projected used-car numbers.

According to preliminary results, Lithia increased its used retail same-store sales by 13 percent during Q3. However, there was some pressure on used-car margins.

“Our top line revenue, new vehicle sales, service and parts and F&I per unit exceeded expectations," president and chief executive officer Bryan DeBoer said in Monday’s release.

“Used-vehicle margins were approximately 130 basis points lower than anticipated primarily due to declining used-vehicle values,” he added. “Used-car same-store sales grew 13 percent, but lower gross profit coupled with modestly higher selling costs impacted operating income.”

New Store in California

Elsewhere, the retailer announced Friday that it purchased Harris Nissan in Clovis, Calif. The group anticipates the store will bring an additional $25 million in estimated annual revenues into the Lithia fold. 

It will be renamed Lithia Nissan of Clovis.

DeBoer said: “We are pleased to add to our Nissan portfolio in the central valley of California. Lithia Nissan of Clovis will complement our Fresno location as we cluster locations in the greater Fresno market area. We are pleased to welcome the newest members of the store to the Lithia family.”