Search Results

Best Match Date Posted
Close
Expand All
Results: 27
AutoNation, Sonic Set Records as Publics Grow PVR

AutoNation, Sonic Set Records as Publics Grow PVR

All six of America’s big publicly traded dealership groups enjoyed year-over-year gains in F&I profit per vehicle retailed in Q3, led by record highs at AutoNation and Sonic Automotive.

November 7, 2019

Beverly Hills BMW Sold in Recordbreaking Deal

Beverly Hills BMW Sold in Recordbreaking Deal

The four-acre, 93,000-square-foot Beverly Hills BMW has been sold for $70 million, an amount billed as the highest ever paid to acquire a Los Angeles auto dealership.

August 21, 2019

Carvana Crashes Used-Vehicle Dealer Rankings

Carvana Crashes Used-Vehicle Dealer Rankings

Carvana broke into the top 10 in its first appearance on Automotive News’ list of the nation's Top 100 Used Retailers, more than doubling its output to more than 94,000 units and outpacing the Asbury, Larry H. Miller, and Ken Garff groups.

April 22, 2019

Sonic CEO Scott Smith Steps Down, Successors Named

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.

September 26, 2018

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.

November 3, 2016

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.

July 28, 2016

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%.

April 26, 2016

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.

July 21, 2015

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.

May 7, 2015

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.

April 29, 2014

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.

October 24, 2013

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.

October 22, 2013

a Bobit media brand

Create your free Bobit Connect account to bookmark content.

The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!

Create Account