Sonic Earnings Fall
According to Reuters, auto dealer group Sonic Automotive Inc. on July 29 reported weaker quarterly earnings as new dealerships failed to offset an industrywide drop in used vehicle sales.
The Charlotte, N.C.-based company also cut the top end of its earnings outlook for the full year, says Reuters.
Reuters reported that Sonic said second-quarter net earnings fell to $28.5 million, or 68 cents per share, from $31.5 million, or 71 cents, in the year-ago quarter.
Total revenues rose to $1.94 billion from $1.84 billion in the previous second quarter, according to Reuters.
According to Reuters, Sonic said it now expects earnings per share this year of between $2.45 and $2.60, excluding the impact of accounting changes. In late April, the company had said it expected earnings per share of $2.45 to $2.70, excluding the accounting changes.
Sonic shares closed on Monday at $26.95 on the New York Stock Exchange. Since the beginning of the year, Sonic shares have gained about 81 percent, outperforming a gain of 13 percent for the S&P 500 index, says Reuters.
More F&I
Why Your F&I PVR Is Misleading You
Here’s a handy checklist of the numbers to track in 2026 instead.
Read More →
Auto Consumer Anxiety Presents Opportunity
A survey of U.S. drivers found the majority are concerned about finances and the economy, but those fears make many ready to buy vehicle-protection products.
Read More →
Humble and Hungry: 12 Rules for an F&I Life
Dustin Gingerich, with a decade in the F&I business under his belt, shares his thoughts on leadership, building trust with customers, and the importance of learning and innovation.
Read More →
Focus on the Opening
F&I managers must learn as much as possible about their customers, starting before they walk into their offices. The bulk of today’s consumers expect that, and good results will follow.
Read More →
F&I Reaches for the Sky
The increasingly important profit center continued making gains in the first quarter, according to StoneEagle data, ancillary products proving more popular as consumers hold onto their buys longer.
Read More →
Timing the Market Can Hurt Long-Term Program Performance
For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
Read More →
The 90/10 Rule
In this video, Ryan Ruff explains the rule that elite sales professionals use to turn ordinary conversations into unforgettable customer experiences.
Read More →
Your Office Is Talking
What’s the atmosphere saying about you to your customers? You can make minor adjustments and additions that transform your space into one that creates trust with the people on the other side of the desk.
Read More →
F&I Training Fundamentals
How can auto dealerships help F&I managers fulfill their vital role in the most effective ways? Industry expert Rick McCormick shares his insights on the best ways to train these professionals and help them maintain good habits.
Read More →
Not Just Any Tire Will Do
More consumers and businesses are opting for all-season options for various reasons as safety, sustainability and convenience push practical change.
Read More →