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Actionable news in LAD: LITHIA MOTORS Inc,

Here’s Why Lithia Motors (LAD) Stock is Plunging Today

NEW YORK (TheStreet) -- Shares of Lithia Motors (LAD - Get Report) are falling by 14.1% to $79.46 on heavy trading volume late Thursday afternoon, after the auto dealership operator cut its 2016 forecast for new vehicle sales growth.

The stock plunged its most in 1 1/2 years today, Bloomberg noted.

Medford, OR-based Lithia lowered its outlook for new vehicle sales in 2016 to an increase of 4.5% compared to its previous forecast in February for a 5.5% increase.

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