Sonic Automotive Inc.'s EchoPark brand of standalone used-vehicle stores turned a profit for its first quarter ever, and Sonic executives have a bold prediction: EchoPark will grow to sell more used vehicles and make more money than the franchised dealerships that make up the nation's fifth-largest auto retailer.
"As we expand our footprint into other areas across the country, we believe EchoPark will exceed the overall volumes and profitability of our franchised dealerships," Sonic CEO David Smith said last month in a statement. "We believe the combination of our customer-centric shopping experience, high-quality vehicle offerings, rock-bottom pricing and transparent trade-in appraisals is disrupting the pre-owned markets that we serve."