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Sonic Automotive Continues EchoPark Expansion with Opening of Newest Location in Huntsville, Alabama
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Rhea-AI Summary
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.
Positive
Opening of the 34th EchoPark location, enhancing geographical coverage.
Anticipated revenue growth of $14 billion by 2025 from expanded operational footprint.
Vehicles priced up to $3,000 below market, enhancing customer value proposition.
Negative
None.
The Huntsville Delivery Center Marks EchoPark’s 34th Location To Date, and Provides Guests with a Modern eCommerce Automotive Retail Experience
HUNTSVILLE, Ala.--(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 opening of its new EchoPark delivery center in Huntsville, the largest city in the state of Alabama.
The Huntsville Delivery Center is EchoPark’s second location in Alabama, and a strong complement to its existing retail sales center in Birmingham. The delivery center marks EchoPark’s 34th location to date and follows recent openings in Baton Rouge, Louisiana and Augusta, Georgia, continuing the brand’s expansion toward a nationwide distribution network that is expected to reach 90 percent of the U.S. population and generate $14 billion in revenues by 2025.
“With the opening of our new Huntsville location, we are thrilled to bring a delivery center option to our guests in Alabama and continue to grow our presence in the state,” said David Smith, CEO of Sonic Automotive and EchoPark Automotive. “We are committed to providing our guests in the Huntsville market and surrounding region with an exceptional selection of high-quality, pre-owned vehicles, priced up to $3,000 below market both in-store and online, with the same guest-centric approach and modern car buying experience we’re known for – one that is flexible, seamless, and convenient from start to finish.”
Guests are able to take delivery in person at the Huntsville location after conveniently shopping online at EchoPark.com and choosing from over 10,000 high quality, one- to four-year-old pre-owned vehicles with clean CarFax reports, most of which are still under original factory warranty. From the EchoPark website, guests can complete a purchase online and schedule a convenient time for pickup at an EchoPark delivery center or retail sales center. Upon arrival, guests work with an EchoPark Experience Guide, who will help answer any questions and finalize all vehicle purchase details before quickly getting them on their way home with their new purchase.
Following its 2014 launch, EchoPark Automotive has rapidly become one of the pre-owned automotive retail industry’s most prominent success stories. The Company continues to expand its EchoPark footprint into new markets and anticipates 90 percent population coverage by 2025, enabling its interim goal of retailing 575,000 vehicles and generating $14 billion in annual EchoPark revenues by 2025, while driving toward a two million vehicle annual sales opportunity at maturity.
Find Our Newest Location
The EchoPark Huntsville Delivery Center is located at 6459 University Drive, Huntsville, Alabama. It is open Monday to Friday from 10:00 am to 7:00 pm, and Saturday from 10:00 am to 6:00 pm. The store can be reached at (256) 665-9255 or online at www.echopark.com/dealerships/huntsville.htm.
About EchoPark Automotive
EchoPark Automotive is one of the fastest growing and most comprehensive retailers of nearly new pre-owned vehicles in America today. Our rapid growth plan is expected to bring our unique business model to 90% of the U.S. population by 2025, utilizing one of the most innovative technology-enabled sales strategies in our industry. Our approach provides a personalized and proven guest-centric buying process that consistently delivers award winning guest experiences and superior value to car buyers nationwide, with savings of up to $3,000 versus the competition. We believe EchoPark is on pace to become the #1 retailer in the nearly new pre-owned vehicle market by 2025, and is already making its mark by earning the 2021 Consumer Satisfaction Award from DealerRater, expanding its Owner Experience Centers, developing an all-new digital ecommerce platform and focusing on growing its brand nationwide. EchoPark’s mission is in its name: Every Car deserves a Happy Owner. This drives the car buying experience for guests and differentiates EchoPark from the competition. More information about EchoPark Automotive can be found at www.echopark.com.
About Sonic Automotive
Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, North Carolina, is on a quest to become the most valuable automotive retailer and service brand in America. Our Company culture thrives on creating, innovating, and providing industry-leading guest experiences, driven by strategic investments in technology, teammates, and ideas that ultimately fulfill ownership dreams, enrich lives, and deliver happiness to our guests and teammates. As one of the largest automotive retailers in America, we are committed to delivering on this goal while pursuing expansive growth and taking progressive measures to be the leader in this category. Our new platforms, programs, and people are set to drive the next generation of automotive experiences. More information about Sonic Automotive can be found at www.sonicautomotive.com and ir.sonicautomotive.com.
Forward-Looking Statements
Included herein are forward-looking statements, including statements regarding anticipated future U.S. population coverage for EchoPark, anticipated future revenue projections, and anticipated future retail unit sales volume projections. 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.
What is the significance of the new EchoPark delivery center in Huntsville, Alabama for Sonic Automotive (SAH)?
The new EchoPark delivery center in Huntsville marks Sonic Automotive's 34th location and is part of a broader strategy to enhance market presence and accessibility.
What are Sonic Automotive's (SAH) revenue projections through 2025?
Sonic Automotive anticipates generating $14 billion in revenues by 2025 through its expansion strategy.
How many vehicles does Sonic Automotive (SAH) aim to sell annually by 2025?
Sonic Automotive aims to retail 575,000 vehicles annually by 2025.
What pricing advantage does EchoPark offer to customers in Huntsville, Alabama?
EchoPark offers vehicles priced up to $3,000 below market value, enhancing customer savings.
