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.
CU Direct Connect now operates as a preferred lender for Sonic Automotive dealerships in Colorado.
Dealer group execs showcase big gains in average PRUs, say they're prepared for whatever action the CFPB takes with respect to dealer participation.
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.
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.
AutoNation, Asbury and Sonic report solid second-quarter gains behind rising consumer demand and better credit conditions.
Sonic Automotive Inc. reported a 24 percent profit increase in the first quarter, and a record 9 percent increase in same-store revenues.
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.
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.
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.
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