Sonic Automotive, Inc. - SAH STOCK NEWS

Sonic Automotive, Inc. (NYSE:SAH) has launched its new EchoPark delivery center in Johnson City, Tennessee, marking the company's 36th location. This center supports Sonic's goal of expanding its EchoPark network to cover 90% of the U.S. population by 2025, with projected annual revenues of $14 billion. This center allows customers to deliver vehicles after shopping online from a selection of over 10,000 pre-owned cars. Sonic aims to retail 575,000 vehicles annually by 2025, targeting a long-term sales opportunity of 2 million vehicles.

Sonic Automotive, Inc. has promoted Thomas "Tim" Keen as the first Chief Operating Officer of EchoPark Automotive, enhancing its leadership as it aims for significant nationwide expansion. Keen, a seasoned professional with nearly 30 years in the automotive industry, has been instrumental in expanding EchoPark's business model, which targets 90% U.S. population coverage and projected revenues of $14 billion by 2025. This strategic move underscores Sonic's commitment to growth in the pre-owned vehicle segment and fostering operational expertise within the company.

Sonic Automotive (NYSE:SAH) announced the successful acquisition of RFJ Auto, expected to contribute $3.2 billion in revenue in 2022. The company reported record fourth-quarter revenues of $3.2 billion, a 13.8% increase year-over-year, and net income of $96.3 million ($2.25 per diluted share). Sonic's Board approved a 108% increase to its quarterly dividend, raising it to $0.25 per share. The company aims for significant growth with EchoPark, expanding its reach to 90% of the U.S. population by 2025.

Sonic Automotive Inc. (NYSE:SAH) has acquired Sun Chevrolet, marking its 6th Chevrolet franchise and 111th dealership location. Founded in 1979 by Joe Caputo, Sun Chevrolet, located in Chittenango, New York, has been a staple in Central New York's automotive market. The acquisition aligns with Sonic's culture and is expected to enhance its footprint in the region. Todd Caputo, previously with Sun Chevrolet, will take on a leadership role at EchoPark Automotive. This expansion demonstrates Sonic's commitment to delivering top-notch experiences while pursuing growth in the automotive retail sector.

Sonic Automotive, a leading automotive retailer, will release its fiscal 2021 fourth quarter and full year financial results on February 16, 2022, at 7:00 A.M. (Eastern). Senior management will hold a conference call on the same day at 11:00 A.M. (Eastern). Investors can access the presentations and materials on the company’s website. Sonic Automotive aims to enhance its market position through strategic investments and innovative customer experiences. EchoPark Automotive, a subsidiary, is focused on aggressively expanding its nearly new pre-owned vehicle offerings across the U.S.

Sonic Automotive Inc. (NYSE:SAH) has opened its 35th EchoPark delivery center in Chattanooga, Tennessee, enhancing its regional presence. This center is part of a strategy to capture 90% of the U.S. population and aims to generate $14 billion in revenues by 2025. With three locations in Tennessee, Sonic reinforces its growth, offering over 10,000 pre-owned vehicles priced up to $3,000 below market. The company continues to innovate in the automotive retail sector, focusing on customer experience and expanding its digital platform.

Sonic Automotive has opened its new EchoPark delivery center in Huntsville, Alabama, marking the brand's 34th location. This center is part of Sonic's strategic expansion, aiming to cover 90% of the U.S. population and generate $14 billion in revenues by 2025. Guests can purchase vehicles online with prices up to $3,000 below market value. EchoPark is committed to providing a seamless customer experience while targeting 575,000 vehicle sales annually. The delivery center operates Monday to Friday and offers a wide selection of high-quality pre-owned vehicles.

Sonic Automotive (NYSE:SAH) has launched its 33rd EchoPark delivery center in Baton Rouge, Louisiana, enhancing its eCommerce automotive retailing. This location is EchoPark's second in Louisiana, following New Orleans, and part of a broader strategy to cover 90% of the U.S. population by 2025. The company aims to generate $14 billion in revenues by then, offering pre-owned vehicles at savings of up to $3,000 below market prices. With over 10,000 vehicles available, Sonic continues to expand its footprint in the automotive industry.

Sonic Automotive, Inc. (NYSE:SAH) has successfully completed the acquisition of RFJ Auto Partners, adding approximately $3.2 billion in annualized revenue. This strategic deal, which closed on September 17, 2021, elevates Sonic into the top five largest dealer groups in the U.S. with 33 new locations and 16 automotive brands. The acquisition aims to enhance Sonic's footprint and align with its goal of achieving $25 billion in total revenues by 2025. Leaders from both companies expressed optimism about future growth and synergy.