Welcome to our dedicated page for Sonic Automotive news (Ticker: SAH), a resource for investors and traders seeking the latest updates and insights on Sonic Automotive stock.
Sonic Automotive (SAH) maintains this dedicated news hub to provide stakeholders with direct access to official corporate communications and market-relevant updates. Our curated collection features verified press releases, financial disclosures, and strategic announcements from one of America's leading automotive retail enterprises.
Investors and industry observers will find essential documentation including quarterly earnings reports, dealership acquisitions, leadership updates, and operational milestones. The archive serves as a critical resource for tracking SAH's evolving position in luxury vehicle retail, used-car market expansion through EchoPark, and powersports sector developments.
All content undergoes strict verification to ensure compliance with financial disclosure regulations. For ongoing monitoring of SAH's market performance and corporate strategy, we recommend bookmarking this page and checking regularly for new filings and announcements.
CDK, the leading automotive retail software provider, has extended its agreement with Sonic Automotive, Inc. (NYSE: SAH), a major automotive and powersports retailer. The deal includes providing Sonic Automotive dealerships with the CDK Dealer Management System (DMS) and Dealership Xperience Modern Retail Suite. This software suite connects the consumer-to-dealer buying journey into a unified transaction, enhancing customer experience.
The partnership allows Sonic Automotive to leverage CDK's artificial intelligence (AI) features, including predictive modeling for customer buying propensity, machine learning for anticipating vehicle service opportunities, and the new CDK AI Virtual Assistant (AIVA) for personalized customer engagement.
CDK's software powers the majority of franchise dealerships in North America, including five of the six publicly held dealership groups in the U.S. as of 2024. This extension reinforces CDK's position at the center of the automotive ecosystem and its commitment to driving digital transformation in the industry.
Sonic Automotive (NYSE:SAH) reported mixed Q2 2024 financial results. Total revenues decreased 5% year-over-year to $3.5 billion, while reported net income increased 76% to $41.2 million. The company faced challenges due to a CDK Global software outage, which is estimated to have reduced Q2 GAAP income before taxes by approximately $30 million. Despite this, EchoPark Segment achieved record Q2 adjusted EBITDA, showing progress in used vehicle operations. The Franchised Dealerships Segment experienced margin normalization, with same-store retail new vehicle gross profit per unit down 29%. Sonic maintained its guidance for positive quarterly EchoPark Segment adjusted EBITDA for the remainder of 2024.
Sonic Automotive (NYSE:SAH), a Fortune 500 automotive retailer, has announced the release of its fiscal 2024 second quarter financial results on August 5, 2024. The results will be available by 7:00 A.M. Eastern, followed by a senior management conference call at 10:00 A.M. Eastern. Investors can access the live webcast and presentation materials on the company's website at ir.sonicautomotive.com. For those preferring to dial in, the numbers are (877) 407-8289 (domestic) or +1 (201) 689-8341 (international). A webcast replay will be available for 14 days after the call.
Sonic Automotive, Inc. announced the retirement of Rachel Richards, the Chief Marketing Officer, after a distinguished 40-year career in the automotive industry. Dino Bernacchi will succeed her effective May 1, 2024. Richards played a pivotal role in strategic planning and operational leadership, while Bernacchi is an industry veteran with significant marketing experience. The company expresses gratitude to Richards and excitement for Bernacchi's leadership.
FAQ
What is the current stock price of Sonic Automotive (SAH)?
What is the market cap of Sonic Automotive (SAH)?
