Sonic Automotive (SAH.N)

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 »

 

Sonic, citing weak accounting controls at dealerships, delays annual report

12:53 pm U.S. ET | March 18, 2013
Sonic Automotive told regulators on Monday it delayed the filing of its annual report because of weak accounting controls at its dealerships. Sonic said in a regulatory filing it believes that financial results will be the same as reported on Feb. 20.... Read More »

 

FINANCE & INSURANCE

Arbitration angst

12:01 am U.S. ET | March 11, 2013
U.S. dealerships, which increasingly ask car buyers to sign binding arbitration agreements in the finance and insurance office, soon could be barred from using that dispute-resolution provision.... Read More »

 

Public groups plan U.S. acquisition blitz

12:01 am U.S. ET | Feb. 25, 2013
Despite forays into overseas markets by Group 1 Automotive Inc. and Penske Automotive Group, public retailers intend to roll full speed ahead on U.S. acquisitions this year.... Read More »

 

Sonic will add more stores; posts 48% rise in profit

11:38 am U.S. ET | Feb. 20, 2013
Sonic Automotive won’t close any dealership purchases during the first quarter, but company President Scott Smith still expects the retailer to acquire stores adding $500 million in annualized revenues during the balance of 2013.... Read More »

 

Sonic switches strategies, returns to acquisition mode

12:01 am U.S. ET | Jan. 14, 2013
After more than four years on the sidelines, Sonic Automotive is ready to buy dealerships again.... Read More »

 

Discounts may decide race for luxury crown

12:01 am U.S. ET | Nov. 5, 2012
Retailers are preparing for a luxury-brand slugfest to end the year.... Read More »

 

Sonic sells Okla. stores

12:01 am U.S. ET | Nov. 5, 2012
After struggling in Oklahoma for 10 years, Sonic Automotive Inc. has shed its five stores in that state.... Read More »

 

Shortage of BMWs dents Sonic's average new-vehicle profits

4:31 pm U.S. ET | Oct. 23, 2012
Lower supplies of BMWs pinched average new-vehicle gross profits for Sonic Automotive during the third quarter, but inventory levels are returning to normal.... Read More »

 

Sonic reports higher Q3 adjusted profits; Asbury posts all-time record

10:02 am U.S. ET | Oct. 23, 2012
Sonic Automotive today reported a higher adjusted profit for the third quarter, helped by higher vehicle sales as well as lower costs while Asbury Automotive said it posted an all-time company record for quarterly profits from continuing operations.... Read More »

 

As sales soar, VW stores are hot items

12:01 am U.S. ET | Oct. 22, 2012
As Volkswagen sales have surged in the United States, so has interest in acquiring VW dealerships. Fifty-five VW stores have changed hands this year, 50 percent more than in all of 2011.... Read More »

 

Mama Sonic takes charge of used sales

12:01 am U.S. ET | Oct. 22, 2012
A new, centralized inventory management system now rolling out across Sonic's dealership network, crunches real-world sales data to help store-level employees offer the best possible price to customers looking to sell their existing vehicles.... Read More »

 

Private buyers snapping up stores

12:01 am U.S. ET | Aug. 20, 2012
Despite more optimism in 2012, the dealership mergers and acquisitions market hasn't taken off the way many experts predicted. Through the first half of the year, acquisitions of U.S. dealerships by the public retailers ran at less than half the pace of 2011.... Read More »

 

FINANCE & INSURANCE

Publics' F&I push could put pressure on lagging stores

12:01 am U.S. ET | Aug. 13, 2012
Public retailers want more F&I revenue per vehicle, and F&I product sales, they agree, are where they expect to get it. That could mean added scrutiny for group dealerships with lagging aftermarket sales.... Read More »

 

Strong F&I profits buoy 2nd-qtr. earnings for public retailers

12:01 am U.S. ET | July 30, 2012
Cheap and easily available credit, more subprime business, higher sales and additional training drove finance-and-insurance profits higher for the five public dealership groups that have released second-quarter earnings.... Read More »

 

Sonic says profit margins are rising after Q2 net income jumps 32%

10:08 am U.S. ET | July 23, 2012
Vehicle profit margins at Sonic Automotive dealerships are already bouncing back after declines in the second quarter. "Margins were a little bit more difficult in the quarter than what we would have hoped for," Sonic President Scott Smith told Automotive News today after Sonic reported a 32 percent gain in second-quarter net income. "It was more product mix than anything."... Read More »