Welcome to our dedicated page for Sonic Automotive news (Ticker: SAH), a resource for investors and traders seeking the latest updates and insights on Sonic Automotive stock.
Sonic Automotive (SAH) maintains this dedicated news hub to provide stakeholders with direct access to official corporate communications and market-relevant updates. Our curated collection features verified press releases, financial disclosures, and strategic announcements from one of America's leading automotive retail enterprises.
Investors and industry observers will find essential documentation including quarterly earnings reports, dealership acquisitions, leadership updates, and operational milestones. The archive serves as a critical resource for tracking SAH's evolving position in luxury vehicle retail, used-car market expansion through EchoPark, and powersports sector developments.
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Sonic Automotive has opened its 22nd EchoPark specialty pre-owned vehicle store in Birmingham, Alabama, marking its first in the state. This new store will offer nearly 10,000 high-quality pre-owned vehicles priced up to 40% below new car prices. CEO David Smith highlights strong demand for pre-owned vehicles and anticipates growth in the EchoPark brand. The company aims to expand its nationwide distribution network to 140 points by 2025, projecting annual sales of 575,000 vehicles and $14 billion in revenue.
Sonic Automotive, Inc. (NYSE: SAH) has expanded its EchoPark specialty pre-owned vehicle network into the Baltimore-Washington metro area through the acquisition of Carbiz. This addition increases EchoPark's total locations to 21 nationwide. Carbiz, established in 2003, aligns with EchoPark's values of exceptional customer experience. The acquisition retains all 65 Carbiz employees and aims to hire an additional 30. EchoPark plans to grow to 140 locations by 2025, targeting $14 billion in revenues from 575,000 annual vehicle sales.
Sonic Automotive (NYSE:SAH) has been inducted into Training magazine’s Hall of Fame after ranking in the Top 10 of its Annual Top 100 list for four consecutive years. This recognition highlights the Company’s commitment to employer-sponsored training and development programs. Sonic employs over 7,000 teammates across 12 states and has developed industry-leading training solutions for its 84 dealerships and 14 collision centers. Despite challenges posed by the pandemic, Sonic effectively pivoted to virtual training, reinforcing its focus on teammate development to enhance customer experiences.
Sonic Automotive, a leading U.S. automotive retailer and NYSE:SAH, announced that its EchoPark Automotive segment has received the 2021 DealerRater Consumer Satisfaction Award. This accolade recognizes dealerships providing exceptional customer service based on online reviews. EchoPark locations in Colorado, North Carolina, and Texas were particularly noted. The award signifies that EchoPark ranks among the top 10% of U.S. dealerships in terms of customer satisfaction, leveraging DealerRater's extensive review database to highlight its commitment to quality service.
Sonic Automotive, a leading automotive retailer, has opened its 19th EchoPark pre-owned vehicle store in Avondale, Arizona, enhancing its footprint following recent openings in Atlanta and Knoxville. The new store offers nearly 10,000 high-quality pre-owned vehicles at prices up to 40% below new models. Sonic aims for a 140-point EchoPark network by 2025, projecting annual retail sales of 575,000 vehicles generating $14 billion in revenue. In 2020, EchoPark achieved record revenue and sales volume, highlighting its growth potential in the specialty pre-owned market.
Sonic Automotive has expanded its EchoPark Automotive network by acquiring Used Car King, increasing its retail presence to 18 locations nationwide. This move enhances service in the northeastern U.S., particularly in New York State, and reflects Sonic's commitment to delivering quality pre-owned vehicles at competitive prices. With plans to grow EchoPark's network to 140 locations by 2025, Sonic aims to sell 575,000 vehicles annually, generating $14 billion in revenue.
Sonic Automotive, Inc. (SAH) reported record financial results for Q4 2020, achieving revenues of $2.8 billion, a 1.8% increase, and income from continuing operations before taxes of $90.4 million, up 48.3%. Adjusted earnings reached $65.8 million ($1.50 per diluted share), up 52.7% year-over-year. For the full year, revenues declined 6.6% to $9.8 billion, with a reported loss from continuing operations of $50.7 million ($1.19 per diluted share). Despite the challenges posed by COVID-19, the company anticipates significant growth for the EchoPark segment, projecting $14 billion in annual revenues by 2025.
Sonic Automotive will release its fiscal 2020 Q4 and full-year financial results on February 17, 2021, at 7:00 A.M. (Eastern). A conference call will follow at 11:00 A.M. (Eastern), with details available on the company’s investor relations site. Sonic, a leading automotive retailer based in Charlotte, North Carolina, operates EchoPark Automotive and is listed on the NYSE under SAH. Investors can access earnings materials online starting the morning of the call.
Sonic Automotive (NYSE:SAH) has opened its first EchoPark specialty pre-owned vehicle store in Atlanta, marking the 15th location overall. This store features a modern shopping environment in a repurposed big-box retail space, offering quality pre-owned vehicles at prices up to 40% below new cars. Sonic aims to expand its EchoPark network to 140 locations by 2025, projecting annual sales of 575,000 vehicles and $14 billion in revenue. The launch reflects strong demand for affordable, nearly new vehicles in major markets, supporting Sonic's growth strategy.
Sonic Automotive, Inc. (NYSE:SAH), a major automotive retailer, has received the 13th Annual Ventana Research Overall Digital Leadership Award. This recognition underscores Sonic’s innovative use of Microstrategy HyperIntelligence and the implementation of Buyer Hypercards, which enhance real-time vehicle inventory management. These advancements support the EchoPark pre-owned vehicle strategy by optimizing vehicle sourcing.
Jeff Dyke, President of Sonic, expressed pride in the team’s efforts, emphasizing the commitment to improving automotive retail technology and guest experiences.
