Sonic Automotive

Suburban Collection buys BMW, Mercedes dealerships in Ann Arbor

4:08 pm U.S. ET | July 23, 2014
The Suburban Collection has acquired two more Michigan dealerships: BMW of Ann Arbor and Mercedes-Benz of Ann Arbor. The two dealerships were acquired from Sonic Automotive for an undisclosed amount....
Read More »

 

Sonic's Q2 profits triple on extraordinary items; expenses rise

12:18 pm U.S. ET | July 22, 2014
Sonic Automotive posted higher revenue and net profit during the second quarter, but expenses increased as the retailer continues to ready its launches of a new customer-experience initiative and standalone used-car stores....
Read More »

 

Sonic bets new plan will transform automotive retailing

12:01 am U.S. ET | July 14, 2014
After more than five years of internal work and external carping, Sonic Automotive Inc. will roll out a bet-the-farm change in how it sells cars late this month at a Toyota store in Charlotte, N.C....
Read More »

 

Sales staff gets more responsibility, higher pay

12:01 am U.S. ET | July 14, 2014
Sonic Automotive began preparing its staff for the transition to its One Sonic-One Experience initiative years ago when it launched its playbooks, or guides for how to sell used cars, new cars, finance and insurance products and so on....
Read More »

 

Michigan's Suburban Collection acquires 2 Cadillac dealerships in state

3:11 pm U.S. ET | June 24, 2014
The Suburban Collection has acquired two Michigan dealerships -- Don Massey Cadillac in Plymouth and Capitol Cadillac in Lansing -- from Charlotte, N.C.-based Sonic Automotive Inc. for an undisclosed amount....
Read More »

 

Top seller CarMax watches as rivals circle

12:01 am U.S. ET | May 26, 2014
CarMax Inc. is the 400-pound gorilla of the used-car market. Now Sonic and Asbury Automotive Group Inc. are on track to open stand-alone used-car stores this year. CarMax is watching, but not all that worried....
Read More »

 

BEST PRACTICES

Sonic: E-sales offices speed replies to leads

12:01 am U.S. ET | May 26, 2014
In the past five years, Sonic Automotive dealerships have slashed average response times to electronic leads to seven minutes. E-sales offices now operating in most of the chain’s 105 stores have made the difference....
Read More »

 

Sonic, Asbury's paths to stand-alone used-car stores diverge

12:01 am U.S. ET | May 26, 2014
When it comes to stand-alone used-car stores, Asbury Automotive Group Inc. is dipping its toe in the water while Sonic Automotive Inc. is jumping in....
Read More »

 

Sonic plans to leave haggling far behind

12:01 am U.S. ET | May 3, 2014
Town and Country Toyota in Charlotte, N.C., will be Sonic's first store to adopt one-price selling beginning in July. By 2016, all Sonic stores, 105 at current count, will be converted to one-price selling, "God willing," said Jeff Dyke, Sonic executive vice president of operations....
Read More »

 

Public retailers want to take the wheel on leads

12:01 am U.S. ET | April 28, 2014
Public dealership groups are moving to improve their own online lead development and reduce reliance on third-party lead providers....
Read More »

 

APRIL U.S. SALES

U.S. sales on track to rise 9% in April, 2 forecasts show

3:44 pm U.S. ET | April 24, 2014
Auto sales are on pace to rise 9 percent in April from a year ago, as warmer weather coaxes out more shoppers who stayed home during the unusually harsh winter, according to two forecasts released today....
Read More »

 

Sonic Q1 profit falls 9% on weather, used-car start-up costs

11:30 am U.S. ET | April 22, 2014
Bad winter weather and costs associated with its standalone used-car store initiative contributed to a 9 percent drop in first-quarter profits for Sonic Automotive....
Read More »

 

Sonic extends hours to make up for time lost to weather

3:15 pm U.S. ET | Feb. 21, 2014
Sonic Automotive is extending store hours in parts of the country hit by severe winter weather in an effort to make up vehicle sales and service revenue lost during the storms....
Read More »

 

Sonic posts 8% drop in Q4 profit, but expects new pricing strategy to prevail

8:52 am U.S. ET | Feb. 19, 2014
Sonic Automotive today posted an 8 percent slide in fourth-quarter net income, but the retailer says it continued to gain traction on a new pricing strategy that some of its stores have struggled with....
Read More »

 

2 groups sign exclusive deals with Manheim

12:01 am U.S. ET | Feb. 3, 2014
Sonic Automotive Inc. and Hendrick Automotive Group have signed or extended agreements that make Manheim, the nation's largest vehicle auction company, those groups' exclusive provider of remarketing services. The deals also include technology to help centralize the groups' processes for wholesaling vehicles by eliminating the need to send a representative to a physical auction....
Read More »

 

Sonic refines outreach

12:01 am U.S. ET | Jan. 27, 2014
Sonic Automotive Inc. is revamping its customer communication strategy as it prepares to launch a customer experience initiative this summer....
Read More »

 

No shopping spree for Sonic this year

12:01 am U.S. ET | Jan. 27, 2014
Acquisitions aren't on the front burner at Sonic Automotive Inc. in 2014....
Read More »

 

Sonic, miffed by lawsuit, jilts TrueCar

12:01 am U.S. ET | Jan. 20, 2014
Sonic Automotive Inc., the nation's third-largest dealership group, is ending its relationship with TrueCar at the end of this month, after the car shopping service sued Sonic in federal court for trademark infringement....
Read More »

 

Sonic’s Q3 net income more than doubles

12:14 pm U.S. ET | Nov. 8, 2013
Sonic Automotive's third-quarter net income more than doubled as revenue from new and used vehicles improved. Sonic reported third-quarter net income of $23.3 million compared to $10 million a year earlier....
Read More »

 

Sonic's goal: End CarMax dominance

12:01 am U.S. ET | Oct. 28, 2013
CarMax Inc. stands alone -- in size, scope and focus -- as a national used-vehicle dealership retailer. Now Sonic Automotive Inc. wants to share that space....
Read More »

 

Sonic’s Q3 operating profit stable on rising revenue

9:58 am U.S. ET | Oct. 21, 2013
Sonic Automotive reported steady third-quarter operating profit, and higher profit margins, as it continued to improve implementation of its True Price Strategy, which aims to limit negotiations on new-car purchases....
Read More »

 

Lithia's 3-point plan to boost F&I

12:01 am U.S. ET | Aug. 12, 2013
Public retailer Lithia Motors Inc. increased per-vehicle F&I revenue by 4 percent in the second quarter, to $1,098. And CEO Bryan DeBoer isn't satisfied....
Read More »

 

JIM HENRY

Can dealer margins survive transparency? Sonic says yes

12:01 am U.S. ET | July 31, 2013
Will greater transparency in car deals, driven by the Internet, eventually bear down on F&I? Online transparency in vehicle transaction pricing is already on the way, one public retailer says....
Read More »

 

Automakers deliver 10% quarterly gain in shareholder value

12:01 am U.S. ET | July 29, 2013
Strong product launches and historically low financing rates led to a 10.1 percent increase in shareholder value for global automakers in the second quarter....
Read More »

 

Recovery speeds up acquisition pace at AutoNation

12:01 am U.S. ET | July 29, 2013
The recession pushed dealership buyers and sellers far apart on price, stifling deals. But now AutoNation Inc., the nation's largest auto retailer, finds itself in a "flurry of discussions" on store acquisitions, said COO Michael Maroone....
Read More »

 

Special Report
Fewer bosses, Disney savvy, $2 idea lift stores

Fewer bosses, Disney savvy, $2 idea lift stores

A Chrysler Group dealership chain is stripping away layers of management to sell cars faster. A Chevrolet-Cadillac store is enchanting customers through Disney training. Mon., July 21
» Watch the Video
     
News by Brand


Rocket Fuel