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Lithia Motors Hits $9.8 Billion In Revenue — Is Its Diversified Model Working?

Lithia Motors, Inc. reported its second quarter 2026 results, highlighting record consolidated revenues of $9.8 billion and an adjusted diluted earnings per share (EPS) of $10.03, marking a 9% increase year-over-year. This performance was underpinned by its diversified business model, which contributed to earnings stability amid a challenging market environment. New vehicle margins remained stable, while used vehicle profitability saw significant sequential improvement. Additionally, the company reported a 2.7% decline in total gross profit on a same-store basis, reflecting tough year-over-year comparisons with a strong second quarter in 2025. The company’s used vehicle segment demonstrated positive momentum, with used vehicle gross profit increasing 1.2%, driven by improvements in dynamic pricing supported by artificial intelligence (AI) tools. Used vehicle gross profit per unit rose to $2,019, representing a sequential increase of $339.