Sonic Automotive Stock Price, News & Analysis

Sonic Automotive, a leading U.S. automotive retailer, plans to release its fiscal 2022 Q1 financial results on April 28, 2022, at 7:00 A.M. (Eastern). A conference call for investors will follow at 11:00 A.M. (Eastern), where senior management will discuss the results. Investor materials will be available on the company’s website prior to the call. Sonic aims to enhance its growth through strategic investments and aims to lead the automotive retail industry.

Sonic Automotive has announced the opening of its 37th EchoPark retail hub in Raleigh, North Carolina, marking its third location in the state. This expansion aligns with the company's growth strategy, aiming for 90% U.S. population coverage by 2025. The new hub provides a modern, online-integrated car buying experience, featuring high-quality, pre-owned vehicles with transparent pricing. Sonic Automotive anticipates retailing 575,000 vehicles annually, generating $14 billion in revenue by 2025.

Sonic Automotive has appointed Stephen Carvelli as its first Chief Technology Officer (CTO). Carvelli, who has over 25 years of experience in technology, previously worked at Comcast and led digital retail functions at major companies like Lowe’s and American Eagle. This appointment aligns with Sonic's growth strategy and commitment to enhancing guest experiences at its dealerships and EchoPark locations. Currently, Sonic operates 111 franchised dealerships and 36 EchoPark locations, with plans for further expansion in 2022 and beyond.

On March 16, 2022, Sonic Automotive (NYSE: SAH), a leading automotive retailer, announced its partnership with CallRevu, a specialist in automotive call monitoring and analytics. Sonic aims to enhance customer experience through CallRevu's Communication Intelligence platform, providing better analysis and action throughout the customer journey. Sonic's Chief Marketing Officer expressed excitement over the partnership, highlighting CallRevu's understanding of their needs. This collaboration aims to improve operational efficiency and customer interactions, reinforcing Sonic's commitment to innovation in the automotive sector.

Sonic Automotive, Inc. (NYSE:SAH) has launched its new EchoPark delivery center in Johnson City, Tennessee, marking the company's 36th location. This center supports Sonic's goal of expanding its EchoPark network to cover 90% of the U.S. population by 2025, with projected annual revenues of $14 billion. This center allows customers to deliver vehicles after shopping online from a selection of over 10,000 pre-owned cars. Sonic aims to retail 575,000 vehicles annually by 2025, targeting a long-term sales opportunity of 2 million vehicles.

Sonic Automotive, Inc. has promoted Thomas "Tim" Keen as the first Chief Operating Officer of EchoPark Automotive, enhancing its leadership as it aims for significant nationwide expansion. Keen, a seasoned professional with nearly 30 years in the automotive industry, has been instrumental in expanding EchoPark's business model, which targets 90% U.S. population coverage and projected revenues of $14 billion by 2025. This strategic move underscores Sonic's commitment to growth in the pre-owned vehicle segment and fostering operational expertise within the company.

Sonic Automotive (NYSE:SAH) announced the successful acquisition of RFJ Auto, expected to contribute $3.2 billion in revenue in 2022. The company reported record fourth-quarter revenues of $3.2 billion, a 13.8% increase year-over-year, and net income of $96.3 million ($2.25 per diluted share). Sonic's Board approved a 108% increase to its quarterly dividend, raising it to $0.25 per share. The company aims for significant growth with EchoPark, expanding its reach to 90% of the U.S. population by 2025.

Sonic Automotive Inc. (NYSE:SAH) has acquired Sun Chevrolet, marking its 6th Chevrolet franchise and 111th dealership location. Founded in 1979 by Joe Caputo, Sun Chevrolet, located in Chittenango, New York, has been a staple in Central New York's automotive market. The acquisition aligns with Sonic's culture and is expected to enhance its footprint in the region. Todd Caputo, previously with Sun Chevrolet, will take on a leadership role at EchoPark Automotive. This expansion demonstrates Sonic's commitment to delivering top-notch experiences while pursuing growth in the automotive retail sector.

Sonic Automotive, a leading automotive retailer, will release its fiscal 2021 fourth quarter and full year financial results on February 16, 2022, at 7:00 A.M. (Eastern). Senior management will hold a conference call on the same day at 11:00 A.M. (Eastern). Investors can access the presentations and materials on the company’s website. Sonic Automotive aims to enhance its market position through strategic investments and innovative customer experiences. EchoPark Automotive, a subsidiary, is focused on aggressively expanding its nearly new pre-owned vehicle offerings across the U.S.