Sonic Automotive, Inc. Discusses Import Brands
CHARLOTTE, N.C., March 17, 2011 /PRNewswire/ -- Sonic Automotive, Inc. (NYSE: SAH), one of the nation's largest automotive retailers, wishes to express its sympathy to all of the families of its manufacturer partners affected by the recent natural disaster in Japan. Sonic Automotive is proud of its long history with the Japanese import brands.
Jeff Dyke, Sonic's Executive VP of Retail Operations, stated, "Our thoughts and prayers are with all those families affected by this unprecedented natural disaster."
Commenting on the impact on Sonic Automotive, "We await further news as these companies continue to evaluate the impact of these events on their supply chain and manufacturing capacity. Between inventory we have on the ground and what is available from the manufacturers, we believe we have adequate inventory based on the information that we have. Our used vehicle buying organization is prepared to supplement our new vehicle inventory with quality nearly-new used vehicles should the manufacturing disruptions interrupt new vehicle inventory supplies longer than currently anticipated. We don't expect any disruption to our business over the remainder of the first quarter and into the early second quarter."
About Sonic Automotive
Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, N.C., is one of the nation's largest automotive retailers. Sonic can be reached on the web at www.sonicautomotive.com.
Included herein are forward-looking statements, including statements with respect to availability of new and used vehicle inventory. There are many factors that affect management's views about future events and trends of the Company's business. These factors involve risk and uncertainties that could cause actual results or trends to differ materially from management's view, including without limitation, economic conditions in the markets in which we operate, new and used vehicle sales volume, the success of our operational strategies, the rate and timing of overall economic recovery and the risk factors described in the Company's annual report on Form 10-K for the year ending December 31, 2010. The Company does not undertake any obligation to update forward-looking information.
SOURCE Sonic Automotive
Released March 17, 2011