Sonic

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 »

 

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 »

 

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 »

 

GM cuts Sonic, Verano output to trim stockpiles

1:50 pm U.S. ET | Dec. 19, 2012
GM has temporarily idled the Michigan plant that makes the Chevrolet Sonic and Buick Verano, one of several factories where shifts have been canceled as the company works to reduce high inventories. Production was halted this week at GM's Lake Orion assembly plant in suburban Detroit to adjust inventory, two people with knowledge of the schedule said. The plant's roughly 1,800 workers are expected to return Jan. 2, after a scheduled holiday break next week, the sources said.... Read More »

 

Upscale Sonic coming in '14

12:01 am U.S. ET | Oct. 29, 2012
General Motors plans to begin selling an upscale Chevrolet Sonic sometime in 2014. This week, GM will show a close-to-production version of the Sonic Dusk sedan at the Specialty Equipment Market Association show in Las Vegas.... Read More »

 

GM sales rise 10 percent; Chevy car lineup shines

4:39 pm U.S. ET | Sept. 4, 2012
GM's sales rose 10 percentin August, to 240,520 units, on the strength of its Chevrolet car lineup. Sales of the Cruze, Sonic and Volt all hit record highs for any month, GM said today. GM said retail sales rose 11 percent from a year earlier, making August the company's best month this year for retail sales.... Read More »

 

GM to recall 2012 Chevrolet Sonic for windshield washers

8:01 am U.S. ET | Aug. 27, 2012
GM is recalling about 45,000 2012 Chevrolet Sonics to check for and correct faulty windshield washers, the National Highway Traffic Safety Administration said Friday in an official government filing.... 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 »

 

Sonic stunts turn young heads toward Chevy

12:01 am U.S. ET | July 9, 2012
Last fall, Chevrolet's marketers were drawing up a promotional stunt for the launch of the Sonic subcompact that was so wild they decided they had better get the blessing of General Motors' top executives and corporate lawyers. The plan: Have an amateur driver -- a professional skateboarder -- jump a 50-foot span between ramps while flipping the car 360 degrees. Driver Rob Dyrdek stuck the landing. And so did Chevy's marketing team.... Read More »