• Lithia Motors average gross margin for 2023 was 17.31%, a 8.17% decline from 2022.
• Lithia Motors average gross margin for 2022 was 18.85%, a 6.38% decline from 2021.
• Lithia Motors average gross margin for 2021 was 17.72%, a 8.91% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.