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September 26, 2018 - Industry News

Sonic CEO Scott Smith Steps Down, Successors Named

The automotive retailer announced that co-founder B. Scott Smith is stepping down as CEO, president, and director of the public dealer group. His brother David Burton Smith will assume his role as CEO, while executive Jeff Dyke was promoted to president.

Tags: lead management, leadership, Sonic Automotive

November 3, 2016 - Industry News

Sonic: Q3 'Operationally Challenging'

F&I, used retail sales, and fixed ops helped dampen Sonic's third quarter declines in volume and gross profit per unit (GPU) retailed. The group also reported that its EchoPark locations increased their F&I per-copy average by 16.3% to $1,078. Overall, the group's F&I operations averaged $1,341 per copy during the period.

Tags: F&I, Quarterly Earnings, Sonic Automotive, Third Quarter, used vehicles

July 28, 2016 - Industry News

EchoPark, F&I Offset Sagging Sales Numbers for Sonic in Q2

Poor retail sales were offset by a 3.1% increase in total F&I gross profit and a 40.5% increase in revenue at Sonic Automotive's EchoPark locations. While declining oil prices have hurt the company's performance in the Houston market, officials are confident the group will recover.

Tags: EchoPark, F&I, Quarterly Earnings, Second Quarter, Sonic Automotive

April 26, 2016 - Industry News

F&I, Fixed Ops Lead the Way for Sonic in Q1 2016

Record F&I and fixed-ops gross profit helped Sonic Automotive offset low vehicle sales. But the big story for the publicly traded dealer group was the performance of the F&I offices at its one-touch EchoPark dealerships. They increased their per-copy averages by 54.1%.

Tags: EchoPark, Quarterly Earnings, Quarterly Report, Sonic Automotive

July 21, 2015 - Industry News

Sonic Cautious About CFPB, But Revs Up Hybrid F&I Push

Sonic executives said the company is delaying plans to launch a captive finance company in light of the CFPB’s recent settlement with Honda Finance. But the group has given the go-ahead for the first phase of its much-delayed hybrid sales process.

Tags: One Sonic-One Experience, Quarterly Earnings, Sonic Automotive

May 7, 2015 - Industry News

Sonic Delays Further Rollout of Hybrid Process

Sonic executives said that until the group perfects its vehicle-pricing tool, the One Sonic-One Experience initiative will not expand beyond the five stores currently employing the program's hybrid sales and F&I process.

Tags: First Quarter, hybrid manager, One Sonic-One Experience, Quarterly Earnings, Sonic Automotive

November 11, 2014 - Industry News

Sonic Files Suit Against Former Employee for Luring Away Employees

Sonic and Philpott Motors have filed a lawsuit against a former employee who left the dealership and hired seven other employees to come work for him.

Tags: employment, Lawsuit, Sonic Automotive

October 23, 2014 - Industry News

Sonic’s Hybrid F&I Pilot Experiences Training, Staffing Issues

Officials said the Charlotte test store was overwhelmed by sales and paperwork. F&I performance rebounded, however, after the group added document specialists.

Tags: F&I, F&I Revenue, One Sonic-One Experience, Quarterly Earnings, Sonic Automotive

April 29, 2014 - Industry News

Sonic to Pilot Hybrid Process in July

Sonic officials said last week the group will begin piloting its new customer experience initiative at a Charlotte, N.C., store this July. The new process promises to deliver a ‘one associate at one price in one hour’ buying experience.

Tags: hybrid manager, Quarterly Earnings, sales, Sonic Automotive

October 24, 2013 - Industry News

Public Groups Report Solid F&I Performance for Q3

Lithia officials said the group is focused on increasing F&I performance, while officials with Sonic announced the launch of a new initiative that will have “guest advocates” handle transactions from start to finish. Asbury reported a per-copy average of $1,305 during the third quarter.

Tags: Asbury Automotive, Brittany-Marie Swanson, F&I, Lithia Motors, Quarterly Earnings, Sonic Automotive

October 22, 2013 - Industry News

Sonic to Open Standalone Pre-Owned Stores

Sonic Automotive will open standalone pre-owned specialty retail stores in 2014, as well as implement the One Sonic-One Experience to cut down on the time it takes to sell a vehicle.

Tags: certified pre-owned vehicles, CRM, pre-owned customers, Sonic Automotive

September 12, 2013 - Industry News

CU Direct Connect Becomes Preferred Lender for Sonic

CU Direct Connect now operates as a preferred lender for Sonic Automotive dealerships in Colorado.

Tags: CU Direct Connect, CUDC, Lender, Sonic Automotive

July 25, 2013 - Industry News

Q2 PRU Averages Eclipse $1,300 for Some Public Groups

Dealer group execs showcase big gains in average PRUs, say they're prepared for whatever action the CFPB takes with respect to dealer participation.

Tags: Asbury Automotive, CFPB, Gregory Arroyo, Group1 Automotive, Sonic Automotive

April 30, 2013 - Industry News

Sonic, Ashbury Total Revenue Up in Q1

Sonic’s 2013 first-quarter net income from continuing operations was $21.7 million, while Asbury reported income from continuing operations of $23.9 million.

Tags: F&I profit, Quarterly Earnings, Sonic Automotive

February 21, 2013 - Industry News

Major Dealer Groups Prepare to Top Records Set in 2012

Most of the major dealer groups posted big gains in the fourth quarter and for the full-year 2012. One group reached an all-time high of $1,215 in F&I gross profit per retail unit.

Tags: 2012, annual, Asbury Automotive, AutoNation, F&I, Finance, Fourth Quarter, Group1 Automotive, insurance, Lithia Motors, Penske Automotive Group, Revenue, Sonic Automotive

July 24, 2012 - Industry News

Three Dealer Groups Report Solid Q2 Profit Gains

AutoNation, Asbury and Sonic report solid second-quarter gains behind rising consumer demand and better credit conditions.

Tags: Asbury Automotive, AutoNation, credit availability, F&I, Mike Jackson, Q2 2012, Revenue, Sonic Automotive

April 26, 2012 - Industry News

Sonic Profits Up 24 Percent in Q1

Sonic Automotive Inc. reported a 24 percent profit increase in the first quarter, and a record 9 percent increase in same-store revenues.

Tags: Sonic Automotive

March 1, 2012 - Industry News

Sonic Realizes 14 Percent Profit Increase in 2011

Sonic Automotive Inc. reported the company’s total 2011 revenues were up 14 percent year over year. Total fourth quarter revenues were up 12 percent from the year-ago quarter as well.

Tags: Sonic Automotive

August 9, 2011 - Industry News

Sonic Automotive Going Mobile

Sonic Automotive Inc.’s mobile reporting app for the iPad and iPhone enables Sonic corporate executives and regional teams to access operational, financial and market information for their dealerships.

Tags: iPad, iPad Business Applications, Mobile Applications, mobile solution, Sonic Automotive, technology

October 26, 2010 - Industry News

No C4C, No Problem, Dealers Report

Despite not having a sales boost from last year’s Cash for Clunkers, three of the largest dealer groups in the nation reported year-over-year increases in third-quarter revenues.

Tags: Asbury Automotive, Penske Automotive Group, Sonic Automotive, Vehicle Sales

November 10, 2009 - Industry News

Sonic Dealerships to Use RouteOne Compliance Products

RouteOne announced today that Sonic Automotive Inc. will subscribe all of its dealerships nationwide to RouteOne's identity verification and electronic document storage products.

Tags: compliance, electronic document storage, identity verification, RouteOne, Sonic Automotive

October 29, 2009 - Industry News

Sonic Posts 3Q Profit

Sonic Automotive Inc. reported a third quarter profit of $18.4 million from continuing operations, up from a loss of $15.1 million in the year-ago period.

Tags: Sonic Automotive, Vehicle Sales

September 29, 2009 - Industry News

Sonic Automotive and Launch Mobile Solution

Sonic Automotive Inc., the nation's third-largest automotive retailer, partnered with, a provider of online marketing solutions, to launch a customized mobile solution that provides customers with dealership information on their mobile devices.

Tags:, mobile solution, Sonic Automotive

July 30, 2009 - Industry News

Sonic Automotive Reports Growth in 2Q Earnings

Sonic Automotive Inc. reported that second quarter net income was $26,000, compared to $9.2 million in the year-ago period. Total revenue was $1.3 million in the second quarter, down from $1.8 million in the same period last year.

Tags: Sonic Automotive

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