Sonic Automotive Announces Grand Opening of EchoPark Automotive in Long Beach, California

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Ninth EchoPark Dealership Nationwide and First in California Market

LONG BEACH, Calif.--(BUSINESS WIRE)-- Sonic Automotive Inc. (“Sonic” or the “Company”) (NYSE:SAH), a Fortune 500 Company and one of the largest retailers of new and pre-owned vehicles in the United States, today announced the grand opening of its ninth EchoPark Automotive specialty pre-owned vehicle store in Long Beach, California.

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(Photo: Business Wire)

(Photo: Business Wire)

Launched in the fall of 2014, EchoPark Automotive has transformed how consumers buy used cars, offering a better way to purchase pre-owned vehicles. EchoPark’s goal has always been to break the stereotype of the used car dealership. The EchoPark guest experience is unlike traditional used car stores. Each retail space is a welcoming, enjoyable atmosphere with an open concept that combines physical space and digital technology- a phygital environment. EchoPark guests participate in the sales process with one dedicated Experience Guide to assist them and they do not have to haggle over pricing. One to four-year old vehicles are priced 20-40 percent below new car pricing. All vehicles come with a clean CarFax history report and 190-point inspection.

“Our EchoPark business is experiencing rapid nationwide growth, a great testament to our model and the value of exceeding customer expectations,” said David Smith, Chief Executive Officer of Sonic Automotive and EchoPark Automotive. “Our outstanding associates and groundbreaking mix of both online and in-store guest experience continue to define what a pre-owned car buying experience should be, often drawing out-of-state car buyers looking for the best possible deal. By truly understanding our guests’ needs and creating a welcoming environment, we can pair customers with the right vehicles at below-market prices. We’re looking forward to bringing our unique customer experience to the Southern California market.”

“Entering the Southern California market and bringing California car buyers the open and relaxed guest experience that has made us successful, along with our ultra-competitive low pricing, is very important to our mission and vision as a business,” said Jeff Dyke, President of Sonic Automotive and EchoPark Automotive. “EchoPark Long Beach will serve a robust automotive market, and as always, deliver on our brand promise of value, honesty and transparency.”

A core principle for EchoPark Automotive is making a strong commitment to the communities in which our stores are located. The EchoPark team has partnered with the Long Beach Rescue Mission to prepare and serve hot meals to the homeless in our Long Beach community. EchoPark will have a vehicle at the new location that the team and the local community can fill with everyday items like clean socks, bedding and canned goods throughout the month of December. Items will then be donated to the mission as part of our drive to “Fill Our Car, Fill A Need.”

“Our goal as a business is more than just selling cars, it’s becoming part of the Long Beach community,” said Mike Bell, General Manager. “We look forward to providing an outstanding customer experience to our new guests and also understand the key to being a responsible local business requires an investment in the people and community in which we are now a part of.”

The new dealership is located at 2998 Cherry Avenue, Signal Hill, California, and will employ approximately 65 team members. EchoPark Automotive is conscious of the impact it has on the environment and surrounding community. Through creativity and elbow grease, the facility development team was able to take an existing facility and transform it into a space that empowers guests to shop the way they want and at their desired pace with a nod to the California lifestyle. Rather than tearing down, the team brought this facility back to life, ready to welcome Southern California guests into the EchoPark family.

Now Open

2998 Cherry Avenue
Signal Hill, CA 90755
9 a.m. to 9 p.m., Monday through Saturday, closed Sundays

Please visit www.echopark.com to learn more and to shop nearly 3,000 vehicles in inventory.

About EchoPark Automotive

Across all nine locations, EchoPark Automotive expects to sell over 50,000 vehicles with total revenues exceeding $1.2 billion in 2019. The Company plans to continue to expand its geographic reach in 2020 by introducing the EchoPark experience to guests in the Atlanta, Georgia and Tampa, Florida markets, in addition to an additional market currently under consideration. More information about EchoPark Automotive can be found at www.echopark.com.

About Sonic Automotive

Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, North Carolina, is one of the nation’s largest automotive retailers. Sonic can be reached on the web at www.sonicautomotive.com.

Forward-Looking Statements

Included herein are forward-looking statements. There are many factors that affect management’s views about future events and trends of the Company’s business. These factors involve risks and uncertainties that could cause actual results or trends to differ materially from management’s views, including, without limitation, EchoPark revenue estimates, EchoPark unit sales volume, EchoPark expansion plans, economic conditions in the markets in which we operate, new and used vehicle industry sales volume, the success of our operational strategies, the rate and timing of overall economic recovery or decline, and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 and the Company’s other periodic reports and information filed with the Securities and Exchange Commission (the “SEC”). The Company does not undertake any obligation to update forward-looking information, except as required under federal securities laws and the rules and regulations of the SEC.

Press/Investor Inquiries:
Danielle DeVoren / Anthony Feldman
212-896-1272 / 347-487-6194
ddevoren@kcsa.com/afeldman@kcsa.com

All Other Inquiries:
Marti Eulberg
980-875-0964
marti.eulberg@sonicautomotive.com

Source: Sonic Automotive Inc.

Released December 16, 2019