Sonic Automotive

Company Information

Who is Sonic?

Incorporated in 1997, Sonic Automotive, Inc. is one of the largest automotive retailers in the United States. We have two operating segments, consisting of franchised dealerships that represent over 25 different new vehicle brands, and EchoPark Automotive, which offers a unique car buying experience in the 1-4 year-old pre-owned vehicle market.

Our Investment Highlights

Our business strategy includes strategic approaches such as:

Featuring a broad, geographic revenue stream and brand mix diversification

Creating a complementary relationship between our operating segments

Creating multiple growth and profit drivers for our franchise operations

Being disciplined with capital allocation to accelerate EchoPark’s growth

Maintaining a unique, high return business model for EchoPark

Focusing on SG&A control and strengthening our balance sheet

Sonic’s Way of Doing Things

We have created a new, high standard for vehicle sales and service. Our approach is customer-centric and does not include the typical pain points experienced at traditional car dealerships. Sonic and EchoPark customers enjoy a pressure-free environment, enabling them to take control of their car buying experience. If they choose, customers also have expert guidance available to them from highly-trained, engaging employees.

Revenue Composition

We have developed a complementary relationship between our franchise dealerships and our EchoPark stores that creates value for shareholders. Our franchised dealerships are thriving in an environment where new car sales are strong, especially for luxury vehicles. EchoPark supplies us with a complementary revenue stream and provides a hedge to our franchise dealership segment. EchoPark’s defensive business model allows it to grow quickly, even in an environment where pre-owned car prices are declining.

Sonic’s Revenue Composition in 2023

As of Dec. 31 2023 • 10-K

Revenue by Brand

Revenue by Geography

Revenue Mix

Sonic’s Growth Strategy

We have developed a comprehensive strategy to continue growth and reduce costs for each of our operating segments.

Execute Our EchoPark Initiative

The EchoPark business operates independently from our franchised businesses. Our long-term goal for EchoPark is to develop a nationwide omnichannel distribution network reaching 90% of the U.S. population at maturity.

Achieve High Levels of Customer Satisfaction

Our personalized sales process is designed to satisfy customers by providing high-quality vehicles and service in a customer-friendly environment.

Maximize Asset Returns Through Process Execution

We have developed standardized operating playbooks for our stores, which provide organic growth opportunities by offering a more favorable car-buying experience to our customers while also creating operational efficiencies in our business. We believe constant refinement of these operating playbooks will continue to enhance the customer experience and increase our market share while driving long-term shareholder value.

Maintain Diverse Revenue Streams

We have multiple revenue streams at our franchised dealerships, including new vehicle sales, used vehicle sales, arranging finance and insurance products, and parts, service and collision repair services. Used vehicle sales and parts, service and collision repair tend to be less sensitive to economic cycles and seasonal influences than new vehicle sales.

Company Leadership

Find out more about the seasoned professionals on our management team and board of directors.

Revenue Composition

Find out more about the seasoned professionals on our management team and board of directors.


Browse our presentations and learn about Sonic’s recent developments and news.

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IR Contacts

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