Irrespective of fears of motor vehicle provide availability, auto dealers aren’t operating into any pace bumps just however.
Each Lithia Motors and AutoNation —dealers advertising new and made use of vehicles—reported document profits and profits last quarter. Lithia Motors reported on Wednesday morning that its second quarter profits surged 118% in contrast with a 12 months before AutoNation’s gross sales jumped 54% in the similar period of time.
New automobile shipments appear to be catching up: They were down just 6% past quarter as opposed with 2019 levels, AutoNation pointed out on its earnings phone on Monday. Demand nonetheless significantly