MEDFORD, Ore. -

After revealing third quarter results that included double-digit increases in used sales, Lithia Motors announced late last week it has acquired a new Toyota store out West.

The dealer group has bought Bitterroot Toyota, which is located in Missoula, Mont.

The store will be renamed Lithia Toyota of Missoula, and will add $45 million in estimated annual revenues, officials said. The new store will join the Lithia ranks with the existing Chrysler Jeep Dodge store in Missoula, which was acquired in 2003.

“We now operate two of the four leading franchises in the community,” officials added.

Bryan DeBoer, president and chief executive officer, said, “We are excited to expand our presence in Montana, one of our strongest states. This store fits our core strategy of seeking exclusive franchises in our markets. We also completed the sale of two metropolitan market stores that lack the franchise exclusivity we seek in our portfolio.”

The company also announced it has also completed the divestitures of Lithia Chrysler Jeep Dodge of Renton and Lithia Hyundai of Renton, near Seattle.

“These locations were previously classified as held for sale and their results have been reclassified to discontinued operations, so there is no impact on our guidance as a result of their sale,” officials explained.

Lithia Motors reported Wednesday that it pushed its used retail sales up more than 26 percent year-over-year, selling 13,320 used units.

The company generated $230.3 million in used retail revenue, compared to $184.6 million in the same period of 2011.

Meanwhile, Lithia sold 5,173 wholesale vehicles (up 16.2 percent), pulling in $35,419 in wholesale revenue (down 0.5 percent).

These results were part of Lithia’s $884.4 million in revenue from continuing operations in the third quarter, versus the $715.2 million it pulled in during the year-ago time frame.

For more information on Q3 results, as well as the company’s used sales goals going into 2013, see the Auto Remarketing story here.