MEDFORD, Ore. -

Lithia reported its best-ever third-quarter earnings in company history this week. Leading the way? Used-vehicle sales.

Looking at its third-quarter operating highlights, Lithia’s used-vehicle retail sales on a same-store level increased by 13 percent compared to Q3 2014, representing the biggest jump of the four different metrics that experienced double-digit growth quarter-over-quarter.

Lithia’s president and chief executive officer, Brian DeBoer, explained.

"Our third quarter earnings were the highest in company history," DeBoer said in Lithia's earnings release. "Same-store sales in all four business lines grew by double digits, led by a 13 percent increase in used-vehicle sales. Total revenues increased 61 percent and adjusted earnings per share increased 54 percent over the prior year period.

"A robust new-vehicle sales environment, improving supply of late-model used vehicles, and the continued growth in our service, body and parts business is allowing our store leaders to unlock new opportunities to improve performance across our company. We remain positive on the overall outlook for both organic and acquisition growth in 2016."

Take a glance at the used-vehicle results below — broken down and separated by overall and same-store results — to get an idea of the impact of Lithia’s newly acquired stores had on the group overall in the third quarter and the year so far.

Q3 Glance at Used-Vehicle Results
Revenue (in thousands) 2015 2014 % Change
Used-vehicle retail (consolidated) $505,885 $340,522 48.6
Used-vehicle retail (same-store) $381,773 $338,400 12.8
Unit Sales      
Used-vehicle retail (consolidated) 26,206 17,710 48
Used-vehicle retail (same-store) 19,255 17,566 9.6
Average Gross Profit Per Unit      
Used-vehicle retail (consolidated) $2,377 $2,479 (4.1)
Used-vehicle retail (same-store) $2,546 $2,489 2.3
YTD (Q1-Q3) Glance at Used-Vehicle Results
Revenue (in thousands) 2015 2014 % Change
Used-vehicle retail (consolidated) $1,457,617 $952,890 53
Used-vehicle retail (same-store) $1,071,691 $943,360 13.6
Unit Sales      
Used-vehicle retail (consolidated) 75,099 50,112 49.9
Used-vehicle retail (same-store) 54,197 49,537 9.4
Average Gross Profit Per Unit      
Used-vehicle retail (consolidated) $2,456 $2,569 (4.4)
Used-vehicle retail (same-store) $2,614 $2,579 1.4

DeBoer commented on the continued expansion of his group, adding during the conference call that the company is still open to acquisitions of all sizes as they come along.

"We have purchased or opened six stores in 2015 which will add cumulative annual revenues of approximately $220 million,” DeBoer said. “We are actively seeking stores in both our Lithia exclusive market strategy and in our DCH metropolitan market strategy. The acquisition market remains robust and we anticipate further transactions for both Lithia and DCH in the near term."

To check out Lithia's full third-quarter results, click here.