Sonic Automotive

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 »

 

3 public groups post higher profits; Sonic lags

12:01 am U.S. ET | July 29, 2013
Group 1 Automotive Inc., Asbury Automotive Group and Lithia Motors Inc. posted sharply higher revenues and profits for the second quarter, buoyed by strong new-vehicle sales and solid profits from used vehicles, parts and service, and finance and insurance.... Read More »

 

AutoNation joins service tablet trend

12:01 am U.S. ET | July 29, 2013
AutoNation Inc. is launching the use of touchpad tablets in some service lanes to speed customer service and make it more interactive.... Read More »

 

Sonic's new pricing system squeezes vehicle margins in Q2

12:06 pm U.S. ET | July 23, 2013
Challenges with a new pricing system continued to squeeze vehicle profit margins for Sonic Automotive in the second quarter.... Read More »

 

Sonic, back in acquisition market, buys 2 stores in Denver

2:36 pm U.S. ET | May 24, 2013
Sonic Automotive is back in the dealership acquisition market with the purchase of large BMW and Mercedes stores in Denver.... Read More »

 

Public retail groups: 'We're fighting tooth and nail' for margins

12:01 am U.S. ET | May 6, 2013
Profit margins on new vehicles are slipping for the nation's largest dealership groups as manufacturers and retailers slug it out for market share. New-car margins dropped for all the public dealership groups during the first quarter of 2013.... Read More »

 

'CHASING THAT CRAZY NUMBER'

Dealers grouse that stair-step plans are causing more pain than last year

12:01 am U.S. ET | April 29, 2013
Stair-step programs, the incentive plans that drive many dealers crazy, are causing more grumbling than they were a year ago. Several major retailers, including some of the largest dealership groups in the country, say stair-step programs are worse than last spring.... Read More »

 

Sonic gets over Feb. hiccups to see Q1 profit gains

10:53 am U.S. ET | April 23, 2013
Pricing challenges and a slowdown in California in February put pressure on Sonic Automotive's profit margins during the first quarter. But the nation's third-largest dealership group bounced back to post a 4 percent increase in net income for the first quarter of 2013.... Read More »

 

Dealership groups expected to post first-quarter gains

4:29 pm U.S. ET | April 22, 2013
Dealership groups that announce their first-quarter earnings over the next two weeks should see continued growth as new- and used-car sales outperform 2012 levels, analysts say. Asbury Automotive Group, Sonic Automotive and Lithia Motors release their quarterly reports this week. Penske Automotive Group and Group 1 Automotive report next week.... Read More »

 

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