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Sonic to Open Standalone Pre-Owned Stores

October 22, 2013

CHARLOTTE, N.C. — Sonic Automotive Inc. announced Monday that it intends to open standalone pre-owned specialty retail stores in 2014, as well as implement the One Sonic-One Experience to improve how vehicles are sold and serviced.

Sonic will introduce its first pre-owned specialty retail store in Denver, Colo., in late 2014, with plans to expand across the country in the coming years. The company’s proprietary Sonic Inventory Management System and the processes surrounding it will be the foundation of these pre-owned sales operations.

"We have been preparing for this moment over the last several years and are excited to be in a position to share our plans,” said Scott Smith, Sonic's president and co-founder. “In particular, we are confident that our new model will not only enhance the value of the business for our stockholders and associates, but it will deliver an experience not yet seen in retail automotive.”

In addition, the One Sonic-One Experience includes several new proprietary inventory management and pricing tools to a fully developed "customer-centric" Customer Relationship Management (CRM) tool.

“Our technologies will allow our guest advocates to complete the buying transaction through one individual,” Smith said. “Our goal is to allow the guest to control the process and move at their pace so that once the vehicle has been selected our team can go to work using these processes and technologies to get our guest on the road in their new vehicle in less than 45 minutes. “

Sonic has invested more than $45 million over the last 4 years in these initiatives.

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