Chart 5. Cumulative percent change in markups for publicly traded dealerships, first quarter 2019 to fourth quarter 2022
Quarter Industry total AutoNation Asbury Automotive Group Group 1 Automotive Lithia Motors Sonic Automotive

Q1 2019

0.0 0.0 0.0 0.0 0.0 0.0

Q2 2019

-7.9 -7.5 -9.1 -12.3 -5.3 -7.6

Q3 2019

-11.6 -15.9 -10.4 -10.3 -7.2 -13.4

Q4 2019

-3.1 -7.2 -1.1 -0.5 -1.9 -1.6

Q1 2020

-7.5 -14.1 1.9 -7.7 -3.3 -6.5

Q2 2020

12.2 8.8 17.4 20.2 15.7 0.0

Q3 2020

28.1 26.2 48.6 26.0 28.7 13.9

Q4 2020

31.7 33.8 59.6 32.0 20.5 22.1

Q1 2021

31.0 32.6 54.4 29.1 23.2 20.3

Q2 2021

90.8 100.9 119.4 84.0 77.3 65.8

Q3 2021

139.4 155.8 176.3 124.0 119.4 110.7

Q4 2021

171.3 184.3 224.1 148.8 149.3 149.0

Q1 2022

164.3 173.0 202.1 145.2 141.5 166.7

Q2 2022

158.0 166.7 195.0 141.1 131.3 169.4

Q3 2022

146.0 153.5 177.0 131.8 122.6 154.4

Q4 2022

122.9 134.7 164.9 109.0 100.3 121.0

Source: Author's calculations based on U.S. Securities and Exchange Commission data.