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NEW YORK ( TheStreet) -- Lithia Motors (NYSE: LAD) hit a new 52-week high Friday as it is currently trading at $24.86, above its previous 52-week high of $24.85 with 379,274 shares traded as of 3:45 p.m. ET. Average volume has been 343,800 shares over the past 30 days. Lithia has a market cap of $506.6 million and is part of the services sector and specialty retail industry. Shares are up 7.4% year to date as of the close of trading on Thursday. Lithia Motors, Inc. operates as an automotive franchisee and retailer of new and used vehicles. It sells new and used cars, and light trucks, as well as replacement parts. The company has a P/E ratio of 13.8, equal to the average specialty retail industry P/E ratio and below the S&P 500 P/E ratio of 17.7.