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Sonic Automotive has announced the acquisition of Audi Glenwood Springs and Glenwood Springs Volkswagen in Glenwood Springs, Colorado. This move expands Sonic's dealership network in Colorado, where it aims to enhance its automotive sales and service offerings. Sonic's CEO, David Smith, emphasized the commitment of these dealerships to quality customer service, which aligns with Sonic's growth strategy. With this acquisition, Sonic continues to push toward its goal of reaching $25 billion in total revenues by 2025.
Positive
Acquisition strengthens Sonic's dealership presence in Colorado.
Supports Sonic's goal of achieving $25 billion in revenues by 2025.
Enhances brand choice and competitive market pricing for customers.
Negative
None.
Audi Glenwood Springs Is Sonic’s 7th Audi Franchise
Glenwood Springs Volkswagen Is Sonic’s 4th Volkswagen Franchise
CHARLOTTE, N.C.--(BUSINESS WIRE)--
Sonic Automotive, Inc. (“Sonic” or the “Company”) (NYSE:SAH), a Fortune 500 Company and one of the nation’s largest automotive retailers, today announced the acquisition of Audi Glenwood Springs and Glenwood Springs Volkswagen in Glenwood Springs, Colorado.
“We continue to enhance our automotive sales and service network in the state of Colorado, with the addition of Audi Glenwood Springs and Glenwood Springs Volkswagen to our franchised dealership network,” said David Smith, Chief Executive Officer of Sonic Automotive and EchoPark Automotive. “Both dealerships share a brand promise consistent with Sonic and have shown an enduring commitment to their customers, teammates and communities, which are principles that are essential to the success of our long-term growth strategy.”
“Audi and Volkswagen, both owned by Volkswagen Group, are popular brands that are in high demand in the Colorado market. These two dealerships complement our existing presence in the Glenwood Springs market with our Land Rover Roaring Fork dealership and allow us to not only expand our footprint further in the state, but also offer our guests more brand choice and competitive market pricing,” said Jeff Dyke, President of Sonic Automotive and EchoPark Automotive. “These Glenwood Springs additions support the growth of our franchised network, as we continue towards our goal of reaching $25 billion in total revenues by 2025.”
Sonic Automotive recently announced the acquisition of Grand Junction Subaru and Grand Junction Volkswagen in Grand Junction, Colorado. Within the State of Colorado, Sonic Automotive also operates BMW of Denver Downtown, Mercedes-Benz of Denver, Mountain States Toyota, and Land Rover of Roaring Fork, as well as EchoPark Automotive locations in Thornton, Centennial, and Colorado Springs.
Visit Our Newest Locations
Audi Glenwood Springs is located at 100 Riverine Road, Glenwood Springs, Colorado. It is open Monday to Friday from 9:00 a.m. to 6:00 p.m., and Saturday from 9:00 a.m. to 5:00 p.m. The store can be reached at (888) 726-5083 or online at www.audiglenwoodsprings.com
Glenwood Springs Volkswagen is located at 100 Riverine Road, Glenwood Springs, Colorado. It is open Monday to Friday from 9:00 a.m. to 6:00 p.m., and Saturday from 9:00 a.m. to 5:00 p.m. The store can be reached at (877) 811-1618 or online at www.glenwoodspringsvw.com
About Sonic Automotive
Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, North Carolina, is one of the nation’s largest automotive retailers. Sonic can be reached on the web atwww.sonicautomotive.com.
About EchoPark Automotive
EchoPark Automotive is a growing operating segment within the Company that specializes in pre-owned vehicle sales and provides a unique guest experience unlike traditional used car stores. More information about EchoPark Automotive can be found at www.echopark.com.
Forward-Looking Statements
Included herein are forward-looking statements, including statements regarding anticipated future revenue levels. There are many factors that affect management’s views about future events and trends of the Company’s business. These factors involve risks and uncertainties that could cause actual results or trends to differ materially from management’s views, including, without limitation, economic conditions in the markets in which we operate, new and used vehicle industry sales volume, anticipated future growth in our EchoPark Segment, the success of our operational strategies, the rate and timing of overall economic expansion or contraction, the effect of the COVID-19 pandemic and related government-imposed restrictions on operations, and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and other reports and information filed with the Securities and Exchange Commission (the “SEC”). The Company does not undertake any obligation to update forward-looking information, except as required under federal securities laws and the rules and regulations of the SEC.
