Exhibit 99.1

Sonic Automotive Reports All-Time Record Quarterly Revenues and Pre-Tax Earnings

Record Fourth Quarter Results Reflect Strong Performance and Improved Cost Structure

CHARLOTTE, N.C. – February 17, 2021 – Sonic Automotive, Inc. (“Sonic” or the “Company”) (NYSE:SAH), one of the nation’s largest automotive retailers, today reported financial results for the fourth quarter and full year ended December 31, 2020. The financial measures discussed below are results for the fourth quarter of 2020 compared to the fourth quarter of 2019, or full year 2020 compared to full year 2019, as applicable, unless otherwise noted.

Fourth Quarter Highlights

•All-time record quarterly revenues of $2.8 billion, up 1.8%, and all-time record quarterly income from continuing operations before taxes of $90.4 million, up 48.3%

•Reported earnings from continuing operations of $57.5 million ($1.31 per diluted share), compared to $46.3 million ($1.04 per diluted share) for the fourth quarter of 2019

•All-time record quarterly adjusted earnings from continuing operations* of $65.8 million ($1.50 per diluted share), an increase of 52.7% compared to $43.1 million ($0.97 per diluted share) for the fourth quarter of 2019

•Reported selling, general and administrative (“SG&A”) expenses as a percentage of gross profit were 66.6%, compared to 66.2% for the fourth quarter of 2019

•All-time record quarterly adjusted SG&A expenses as a percentage of gross profit* of 68.1%, compared to 73.7% for the fourth quarter of 2019, a 560-basis point improvement

•All-time record quarterly total Finance & Insurance (“F&I”) gross profit per retail unit of $2,031, up 12.3%

•Reported EchoPark results include:

◦All-time record quarterly EchoPark revenues of $386.9 million, up 25.4%

◦EchoPark retail sales volume of 14,841, up 17.1%

•Same store Franchised Dealerships Segment operating results include:

◦Revenues up 1.5%, gross profit up 1.7%

◦New vehicle unit sales volume down 6.9%; new vehicle gross profit per unit up 31.4%, to all-time record $2,932

◦Retail used vehicle unit sales volume down 2.9%; retail used vehicle gross profit per unit down 24.2%, to $972

◦Parts, service and collision repair gross profit down 3.2% (customer pay gross profit down 0.5%); gross margin up 180 basis points, to 50.7%

◦F&I gross profit up 7.8%; all-time record quarterly reported Franchised Dealerships Segment F&I gross profit per retail unit of $1,965, up 14.9%

Full Year Highlights

•Total revenues of $9.8 billion, down 6.6%, and gross profit of $1.4 billion, down 6.4%,

•Reported loss from continuing operations of $50.7 million ($1.19 per diluted share), compared to earnings from continuing operations of $144.5 million ($3.31 per diluted share) for full year 2019

•All-time record annual adjusted earnings from continuing operations* of $168.9 million ($3.85 per diluted share), an increase of 45.9% compared to $115.8 million ($2.65 per diluted share) for full year 2019

•Reported SG&A expenses as a percentage of gross profit were 72.3%, compared to 72.3% for full year 2019

•Adjusted SG&A expenses as a percentage of gross profit* were 72.9%, compared to 76.9% for full year 2019, a 400-basis point improvement

•All-time record annual total F&I gross profit per retail unit of $1,952, up 12.0%

•Reported EchoPark results include:

◦All-time record annual EchoPark revenues of $1.4 billion, up 22.1%

◦All-time record annual EchoPark retail sales volume of 57,161 units, up 15.4%

•Same store Franchised Dealerships Segment operating results include:

◦Revenues down 6.4%, gross profit down 3.9%

◦New vehicle sales volume down 12.9%; new vehicle unit gross profit per unit up 19.0%, to all-time record $2,508

◦Retail used vehicle unit sales volume down 4.4%; retail used vehicle gross profit per unit down 8.8%, to $1,168

◦Parts, service and collision repair gross profit down 7.7% (customer pay gross profit down 3.6%); gross margin up 100 basis points, to 49.9%

◦F&I gross profit up 1.2%; all-time record annual reported Franchised Dealerships Segment F&I gross profit per retail unit of $1,846, up 14.0%

Commentary

Jeff Dyke, Sonic’s and EchoPark’s President, commented, “We are extremely proud of our team for all they have accomplished in 2020, driving the highest adjusted earnings from continuing operations* in our Company’s history in the face of the challenges of a global

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pandemic. Our fourth quarter and full year 2020 results reflect the continued strength and resilience of both our EchoPark and franchised dealerships segments, a significant rebound in customer activity and increasing demand for both new and used vehicles during the second half of the year, as well as fundamental improvements in our operating cost structure. These trends have continued into early 2021 and we believe we are well on the path to more than double the Company’s total revenues and significantly increase profitability over the next five years.”

Mr. Dyke continued, “Our EchoPark business achieved strong top-line growth during the fourth quarter, with record quarterly revenues of $386.9 million, up 25.4% from the prior year period. EchoPark’s continued growth demonstrates the significant benefits we offer our guests, who continue to see value in the excellent pricing, inventory selection and buying experience that EchoPark offers. This in-store experience, combined with our hybrid approach between online and on-site, offers consumers a full range of buying options in order to provide their ideal pre-owned vehicle purchase experience. With the opening of four new EchoPark points in the fourth quarter and the recent acquisition of two pre-owned businesses in Maryland and New York, we remain committed to developing our nationwide distribution network, which we continue to expect to retail over half a million pre-owned vehicles annually and drive $14.0 billion in annual EchoPark revenues by 2025.”

Heath Byrd, Sonic’s and EchoPark’s Chief Financial Officer, commented, “In 2020, we took significant steps to improve operating efficiencies and manage expenses throughout our entire organization, which drove record adjusted SG&A expenses as a percentage of gross profit* of 68.1% for the fourth quarter of 2020. Our team met the hurdles of the COVID-19 pandemic head on, initiating cost control measures to meet these challenges and remaining disciplined in this focus even as consumer demand rebounded in the second half of the year. Additionally, our balance sheet position is stronger than it has ever been, with the lowest net debt to adjusted EBITDA* ratio in our Company’s history and total available liquidity of $526.4 million as of December 31, 2020, up 88.0% from the beginning of the year.”

*Adjusted earnings from continuing operations, adjusted earnings per diluted share from continuing operations, adjusted SG&A expenses, adjusted SG&A expenses as a percentage of gross profit, and adjusted EBITDA are non-GAAP financial measures. The tables included in this press release reconcile these non-GAAP financial measures to the most directly comparable GAAP financial measures.

Dividend

Sonic’s Board of Directors approved a quarterly cash dividend of $0.10 per share payable on April 15, 2021 to all stockholders of record on March 15, 2021.

Fourth Quarter 2020 Earnings Conference Call

Senior management will hold a conference call on Wednesday, February 17, 2021 at 11:00 A.M. (Eastern). Investor presentation and earnings press release materials will be accessible beginning the morning of the conference call on the Company’s website at ir.sonicautomotive.com.

To access the live broadcast of the call over the internet, please go to ir.sonicautomotive.com. For telephone access to this conference call, please register in advance using this link: http://www.directeventreg.com/registration/event/7083166. After registering, you will receive a confirmation email that includes dial-in numbers and unique conference call and registrant passcodes for entry. Registration remains available through the live call, however, to ensure you are connected for the full call we suggest registering at least 10 minutes before the start of the call.

A conference call replay will be available one hour following the call for 14 days at ir.sonicautomotive.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.

About EchoPark Automotive

EchoPark Automotive is a growing operating segment within the Company that specializes in pre-owned vehicle sales and provides a unique guest experience unlike traditional used car stores. More information about EchoPark Automotive can be found at www.echopark.com.

Forward-Looking Statements

Included herein are forward-looking statements, including statements regarding anticipated future revenue levels, future profitability, projected SG&A expense levels, pre-owned vehicle sales projections and the opening of additional EchoPark points. 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,

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economic conditions in the markets in which we operate, new and used vehicle industry sales volume, anticipated future growth in our EchoPark Segment, the success of our operational strategies, the rate and timing of overall economic expansion or contraction, the effect of the COVID-19 pandemic and related government-imposed restrictions on operations, and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, the Company’s Current Report on Form 8-K filed on February 12, 2021 and other 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.

Non-GAAP Financial Measures

This press release and the attached financial tables contain certain non-GAAP financial measures as defined under SEC rules, such as adjusted earnings from continuing operations, adjusted earnings per diluted share from continuing operations, adjusted SG&A expenses, adjusted SG&A expenses as a percentage of gross profit and adjusted EBITDA. As required by SEC rules, the Company has provided reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures in the schedules included in this press release. The Company believes that these non-GAAP financial measures improve the transparency of the Company’s disclosures and provide a meaningful presentation of the Company’s results.

Company Contacts

Investor Inquiries:

Heath Byrd, Executive Vice President and Chief Financial Officer (704) 566-2400

Danny Wieland, Vice President, Investor Relations & Financial Reporting (704) 927-3462

ir@sonicautomotive.com

Press Inquiries:

Danielle DeVoren / Anthony Feldman

212-896-1272 / 347-487-6194

ddevoren@kcsa.com/afeldman@kcsa.com

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Sonic Automotive, Inc.

Results of Operations (Unaudited)

Results of Operations

			Three Months Ended December 31,												Better / (Worse)						Twelve Months Ended December 31,												Better / (Worse)
			2020						2019						% Change						2020						2019						% Change
			(In thousands, except per share amounts)
Revenues:
New vehicles			$	1,323,429					$	1,360,064					(2.7)		%				$	4,281,223					$	4,889,171					(12.4)		%
Used vehicles			959,875						869,708						10.4		%				3,564,832						3,489,972						2.1		%
Wholesale vehicles			59,156						46,596						27.0		%				197,378						202,946						(2.7)		%
Total vehicles			2,342,460						2,276,368						2.9		%				8,043,433						8,582,089						(6.3)		%
Parts, service and collision repair			319,068						346,514						(7.9)		%				1,233,735						1,395,303						(11.6)		%
Finance, insurance and other, net			137,026						125,522						9.2		%				489,874						476,951						2.7		%
Total revenues			2,798,554						2,748,404						1.8		%				9,767,042						10,454,343						(6.6)		%
Cost of Sales:
New vehicles			(1,242,818)						(1,292,480)						3.8		%				(4,047,132)						(4,656,084)						13.1		%
Used vehicles			(941,413)						(832,877)						(13.0)		%				(3,458,834)						(3,342,576)						(3.5)		%
Wholesale vehicles			(61,988)						(47,941)						(29.3)		%				(198,249)						(207,378)						4.4		%
Total vehicles			(2,246,219)						(2,173,298)						(3.4)		%				(7,704,215)						(8,206,038)						6.1		%
Parts, service and collision repair			(163,218)						(181,222)						9.9		%				(639,182)						(727,288)						12.1		%
Total cost of sales			(2,409,437)						(2,354,520)						(2.3)		%				(8,343,397)						(8,933,326)						6.6		%
Gross profit			389,117						393,884						(1.2)		%				1,423,645						1,521,017						(6.4)		%
Selling, general and administrative expenses			(258,977)						(260,921)						0.7		%				(1,028,666)						(1,099,374)						6.4		%
Impairment charges			(1,158)						(17,692)						93.5		%				(270,017)						(20,768)						(1,200.2)		%
Depreciation and amortization			(23,145)						(23,048)						(0.4)		%				(91,023)						(93,169)						2.3		%
Operating income (loss)			105,837						92,223						14.8		%				33,939						307,706						(89.0)		%
Other income (expense):
Interest expense, floor plan			(5,406)						(11,137)						51.5		%				(27,228)						(48,519)						43.9		%
Interest expense, other, net			(10,048)						(13,458)						25.3		%				(41,572)						(52,953)						21.5		%
Other income (expense), net			(5)						(6,680)						99.9		%				97						(6,589)						101.5		%
Total other income (expense)			(15,459)						(31,275)						50.6		%				(68,703)						(108,061)						36.4		%
Income (loss) from continuing operations before taxes			90,378						60,948						48.3		%				(34,764)						199,645						(117.4)		%
Provision for income taxes for continuing operations - benefit (expense)			(32,895)						(14,676)						(124.1)		%				(15,900)						(55,108)						71.1		%
Income (loss) from continuing operations			57,483						46,272						24.2		%				(50,664)						144,537						(135.1)		%
Discontinued operations:
Income (loss) from discontinued operations before taxes			(194)						62						(412.9)		%				(1,002)						(554)						(80.9)		%
Provision for income taxes for discontinued operations - benefit (expense)			50						(27)						285.2		%				281						154						82.5		%
Income (loss) from discontinued operations			(144)						35						(511.4)		%				(721)						(400)						(80.3)		%
Net income (loss)			$	57,339					$	46,307					23.8		%				$	(51,385)					$	144,137					(135.7)		%
Basic earnings (loss) per common share:
Earnings (loss) per share from continuing operations			$	1.37					$	1.07					28.0		%				$	(1.19)					$	3.36					(135.4)		%
Earnings (loss) per share from discontinued operations			—						—						—		%				(0.02)						(0.01)						(100.0)		%
Earnings (loss) per common share			$	1.37					$	1.07					28.0		%				$	(1.21)					$	3.35					(136.1)		%
Weighted-average common shares outstanding			41,874						43,078						2.8		%				42,483						43,016						1.2		%
Diluted earnings (loss) per common share:
Earnings (loss) per share from continuing operations			$	1.31					$	1.04					26.0		%				$	(1.19)					$	3.31					(136.0)		%
Earnings (loss) per share from discontinued operations			(0.01)						—						(100.0)		%				(0.02)						(0.01)						(100.0)		%
Earnings (loss) per common share			$	1.30					$	1.04					25.0		%				$	(1.21)					$	3.30					(136.7)		%
Weighted-average common shares outstanding(1)			44,022						44,463						1.0		%				42,483						43,710						2.8		%
Dividends declared per common share			$	0.10					$	0.10					—		%				$	0.40					$	0.40					—		%

(1) Basic weighted-average shares used for twelve months ended December 31, 2020 due to net loss on reported GAAP basis.

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Franchised Dealerships Segment - Reported

			Three Months Ended December 31,												Better / (Worse)						Twelve Months Ended December 31,												Better / (Worse)
			2020						2019						% Change						2020						2019						% Change
			(In thousands, except unit and per unit data)
Revenues:
New vehicles			$	1,323,429					$	1,360,064					(2.7)		%				$	4,281,223					$	4,889,171					(12.4)		%
Used vehicles			627,786						604,422						3.9		%				2,345,936						2,493,467						(5.9)		%
Wholesale vehicles			49,181						39,250						25.3		%				168,655						180,020						(6.3)		%
Total vehicles			2,000,396						2,003,736						(0.2)		%				6,795,814						7,562,658						(10.1)		%
Parts, service and collision repair			307,861						339,168						(9.2)		%				1,194,394						1,366,550						(12.6)		%
Finance, insurance and other, net			103,383						96,947						6.6		%				357,848						363,117						(1.5)		%
Total revenues			2,411,640						2,439,851						(1.2)		%				8,348,056						9,292,325						(10.2)		%
Gross Profit:
New vehicles			80,611						67,583						19.3		%				234,091						233,087						0.4		%
Used vehicles			25,834						35,727						(27.7)		%				122,948						147,541						(16.7)		%
Wholesale vehicles			(2,905)						(1,254)						(131.7)		%				(789)						(4,100)						80.8		%
Total vehicles			103,540						102,056						1.5		%				356,250						376,528						(5.4)		%
Parts, service and collision repair			156,070						165,647						(5.8)		%				595,342						668,958						(11.0)		%
Finance, insurance and other, net			103,383						96,947						6.6		%				357,848						363,117						(1.5)		%
Total gross profit			362,993						364,650						(0.5)		%				1,309,440						1,408,603						(7.0)		%
Selling, general and administrative expenses			(235,941)						(237,849)						0.8		%				(933,738)						(1,011,763)						7.7		%
Impairment charges			(1,158)						(1,075)						(7.7)		%				(270,017)						(1,101)						NM
Depreciation and amortization			(20,275)						(20,288)						0.1		%				(79,929)						(82,636)						3.3		%
Operating income (loss)			105,619						105,438						0.2		%				25,756						313,103						(91.8)		%
Other income (expense):
Interest expense, floor plan			(4,549)						(10,275)						55.7		%				(24,066)						(45,055)						46.6		%
Interest expense, other, net			(9,853)						(13,019)						24.3		%				(40,624)						(51,231)						20.7		%
Other income (expense), net			(5)						(6,680)						99.9		%				92						(6,651)						101.4		%
Total other income (expense)			(14,407)						(29,974)						51.9		%				(64,598)						(102,937)						37.2		%
Income (loss) before taxes			91,212						75,464						20.9		%				(38,842)						210,166						(118.5)		%
Add: impairment charges			1,158						1,075						NM						270,017						1,101						NM
Segment income (loss)			$	92,370					$	76,539					20.7		%				$	231,175					$	211,267					9.4		%
Unit Sales Volume:
New vehicles			27,566						30,591						(9.9)		%				93,281						114,131						(18.3)		%
Used vehicles			25,490						27,099						(5.9)		%				101,864						112,629						(9.6)		%
Wholesale vehicles			6,463						6,148						5.1		%				24,879						28,379						(12.3)		%
Retail new & used vehicles			53,056						57,690						(8.0)		%				195,145						226,760						(13.9)		%
Used:New Ratio			0.92						0.89						4.4		%				1.09						0.99						10.7		%
Gross Profit Per Unit:
New vehicles			$	2,924					$	2,209					32.4		%				$	2,510					$	2,042					22.9		%
Used vehicles			$	1,014					$	1,318					(23.1)		%				$	1,207					$	1,310					(7.9)		%
Finance, insurance and other, net			$	1,965					$	1,710					14.9		%				$	1,846					$	1,620					14.0		%

NM = Not Meaningful

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Franchised Dealerships Segment - Same Store

			Three Months Ended December 31,												Better / (Worse)						Twelve Months Ended December 31,												Better / (Worse)
			2020						2019						% Change						2020						2019						% Change
			(In thousands, except unit and per unit data)
Revenues:
New vehicles			$	1,322,958					$	1,326,947					(0.3)		%				$	4,258,098					$	4,654,982					(8.5)		%
Used vehicles			627,656						582,582						7.7		%				2,332,150						2,376,141						(1.9)		%
Wholesale vehicles			49,165						38,419						28.0		%				167,794						172,306						(2.6)		%
Total vehicles			1,999,779						1,947,948						2.7		%				6,758,042						7,203,429						(6.2)		%
Parts, service and collision repair			308,098						330,337						(6.7)		%				1,184,428						1,309,201						(9.5)		%
Finance, insurance and other, net			97,570						90,550						7.8		%				335,695						331,860						1.2		%
Total revenues			$	2,405,447					$	2,368,835					1.5		%				$	8,278,165					$	8,844,490					(6.4)		%
Gross Profit:
New vehicles			$	80,776					$	66,011					22.4		%				$	231,871					$	223,661					3.7		%
Used vehicles			24,768						33,646						(26.4)		%				117,903						135,259						(12.8)		%
Wholesale vehicles			(2,868)						(1,255)						(128.5)		%				(520)						(3,382)						84.6		%
Total vehicles			102,676						98,402						4.3		%				349,254						355,538						(1.8)		%
Parts, service and collision repair			156,321						161,500						(3.2)		%				590,946						640,015						(7.7)		%
Finance, insurance and other, net			97,570						90,550						7.8		%				335,695						331,860						1.2		%
Total gross profit			$	356,567					$	350,452					1.7		%				$	1,275,895					$	1,327,413					(3.9)		%
Unit Sales Volume:
New vehicles			27,552						29,586						(6.9)		%				92,445						106,170						(12.9)		%
Used vehicles			25,479						26,251						(2.9)		%				100,983						105,639						(4.4)		%
Wholesale vehicles			6,460						5,871						10.0		%				24,701						26,114						(5.4)		%
Retail new & used vehicles			53,031						55,837						(5.0)		%				193,428						211,809						(8.7)		%
Used:New Ratio			0.92						0.89						4.2		%				1.09						0.99						9.8		%
Gross Profit Per Unit:
New vehicles			$	2,932					$	2,231					31.4		%				$	2,508					$	2,107					19.0		%
Used vehicles			$	972					$	1,282					(24.2)		%				$	1,168					$	1,280					(8.8)		%
Finance, insurance and other, net			$	1,855					$	1,650					12.4		%				$	1,748					$	1,587					10.1		%

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EchoPark Segment - Reported

			Three Months Ended December 31,												Better / (Worse)						Twelve Months Ended December 31,												Better / (Worse)
			2020						2019						% Change						2020						2019						% Change
			(In thousands, except unit and per unit data)
Revenues:
Used vehicles			$	332,089					$	265,286					25.2		%				$	1,218,896					$	996,505					22.3		%
Wholesale vehicles			9,975						7,346						35.8		%				28,723						22,926						25.3		%
Total vehicles			342,064						272,632						25.5		%				1,247,619						1,019,431						22.4		%
Parts, service and collision repair			11,207						7,346						52.6		%				39,341						28,753						36.8		%
Finance, insurance and other, net			33,643						28,575						17.7		%				132,026						113,834						16.0		%
Total revenues			386,914						308,553						25.4		%				1,418,986						1,162,018						22.1		%
Gross Profit:
Used			(7,372)						1,104						(767.8)		%				(16,950)						(145)						(11,589.7)		%
Wholesale			73						(92)						179.3		%				(82)						(332)						75.3		%
Total vehicles			(7,299)						1,012						(821.2)		%				(17,032)						(477)						(3,470.6)		%
Parts, service and collision repair			(220)						(354)						37.9		%				(789)						(943)						16.3		%
Finance & insurance			33,643						28,576						17.7		%				132,026						113,834						16.0		%
Total gross profit			26,124						29,234						(10.6)		%				114,205						112,414						1.6		%
SG&A			(23,036)						(23,072)						0.2		%				(94,928)						(87,611)						(8.4)		%
Impairment			—						(16,617)						100.0		%				—						(19,667)						100.0		%
Depreciation			(2,870)						(2,760)						(4.0)		%				(11,094)						(10,533)						(5.3)		%
Operating income			218						(13,215)						101.6		%				8,183						(5,397)						251.6		%
Other income (expense):
Interest floor plan			(857)						(862)						0.6		%				(3,162)						(3,464)						8.7		%
Interest other			(195)						(439)						55.6		%				(948)						(1,722)						44.9		%
Other income (expense)			—						—						—		%				5						62						(91.9)		%
Total other income (expense)			(1,052)						(1,301)						19.1		%				(4,105)						(5,124)						19.9		%
Income (loss) before taxes			(834)						(14,516)						94.3		%				4,078						(10,521)						138.8		%
Less: impairment charges			—						(16,617)						NM						—						(19,667)						NM
Segment income (loss)			$	(834)					$	2,101					(139.7)		%				$	4,078					$	9,146					(55.4)		%
Unit Sales Volume:
Used vehicles			14,841						12,676						17.1		%				57,161						49,520						15.4		%
Wholesale vehicles			2,004						1,751						14.4		%				7,178						5,774						24.3		%
Gross Profit Per Unit:
Total used vehicle and F&I			$	1,770					$	2,341					(24.4)		%				$	2,013					$	2,296					(12.3)		%

NM = Not Meaningful

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EchoPark Segment - Same Store

			Three Months Ended December 31,												Better / (Worse)						Twelve Months Ended December 31,												Better / (Worse)
			2020						2019						% Change						2020						2019						% Change
			(In thousands, except unit and per unit data)
Revenues:
Used vehicles			$	236,074					$	262,913					(10.2)		%				$	1,026,377					$	994,131					3.2		%
Wholesale vehicles			7,319						7,346						(0.4)		%				24,737						22,927						7.9		%
Total vehicles			243,393						270,259						(9.9)		%				1,051,114						1,017,058						3.3		%
Parts, service and collision repair			9,243						7,104						30.1		%				34,768						28,510						22.0		%
Finance, insurance and other, net			24,607						28,052						(12.3)		%				112,403						112,891						(0.4)		%
Total revenues			$	277,243					$	305,415					(9.2)		%				$	1,198,285					$	1,158,459					3.4		%
Gross Profit:
Used vehicles			$	(6,785)					$	(609)					(1,014.1)		%				$	(19,983)					$	(5,831)					(242.7)		%
Wholesale vehicles			(2)						(92)						97.8		%				(158)						(332)						52.4		%
Total vehicles			(6,787)						(701)						(868.2)		%				(20,141)						(6,163)						(226.8)		%
Parts, service and collision repair			(138)						(325)						57.5		%				(533)						(894)						40.4		%
Finance, insurance and other, net			24,607						28,052						(12.3)		%				112,403						112,891						(0.4)		%
Total gross profit			$	17,682					$	27,026					(34.6)		%				$	91,729					$	105,834					(13.3)		%
Unit Sales Volume:
Used vehicles			10,794						12,548						(14.0)		%				48,446						49,392						(1.9)		%
Wholesale vehicles			1,673						1,751						(4.5)		%				6,388						5,774						10.6		%
Gross Profit Per Unit:
Total used vehicle and F&I			$	1,651					$	2,187					(24.5)		%				$	1,908					$	2,168					(12.0)		%

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Selling, General and Administrative (“SG&A”) Expenses - Non-GAAP Reconciliation

			Three Months Ended December 31,												Better / (Worse)
			2020						2019						Change						% Change
			(In thousands)
Reported:
Compensation			$	176,050					$	184,455					$	8,405					4.6		%
Advertising			10,509						14,522						4,013						27.6		%
Rent			13,560						13,303						(257)						(1.9)		%
Other			58,858						48,641						(10,217)						(21.0)		%
Total SG&A expenses			$	258,977					$	260,921					$	1,944					0.7		%
Items of interest:
Gain on franchise and real estate disposals			$	6,039					$	29,303
Total SG&A adjustments			$	6,039					$	29,303
Adjusted:
Total adjusted SG&A expenses			$	265,016					$	290,224					$	25,208					8.7		%
Reported:
SG&A expenses as a % of gross profit:
Compensation			45.2		%				46.8		%				160			bps
Advertising			2.7		%				3.7		%				100			bps
Rent			3.5		%				3.4		%				(10)			bps
Other			15.2		%				12.3		%				(290)			bps
Total SG&A expenses as a % of gross profit			66.6		%				66.2		%				(40)			bps
Items of interest:
Gain on franchise and real estate disposals			1.5		%				7.5		%
Total effect of adjustments			1.5		%				7.5		%
Adjusted:
Total adjusted SG&A expenses as a % of gross profit			68.1		%				73.7		%				560			bps

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SG&A Expenses - Non-GAAP Reconciliation (Continued)

			Twelve Months Ended December 31,												Better / (Worse)
			2020						2019						Change						% Change
			(In thousands)
Reported:
Compensation			$	659,834					$	733,925					$	74,091					10.1		%
Advertising			42,186						60,831						18,645						30.7		%
Rent			54,494						54,611						117						0.2		%
Other			272,152						250,007						(22,145)						(8.9)		%
Total SG&A expenses			$	1,028,666					$	1,099,374					$	70,708					6.4		%
Items of interest:
Executive transition costs			$	—					$	(6,264)
Gain on franchise and real estate disposals			9,188						75,983
Total SG&A adjustments			$	9,188					$	69,719
Adjusted:
Total adjusted SG&A expenses			$	1,037,854					$	1,169,093					$	131,239					11.2		%
Reported:
SG&A expenses as a % of gross profit:
Compensation			46.3		%				48.3		%				200			bps
Advertising			3.0		%				4.0		%				100			bps
Rent			3.8		%				3.6		%				(20)			bps
Other			19.2		%				16.4		%				(280)			bps
Total SG&A expenses as a % of gross profit			72.3		%				72.3		%				—			bps
Items of interest:
Executive transition costs			—		%				(0.4)		%
Gain on franchise and real estate disposals			0.6		%				5.0		%
Total effect of adjustments			0.6		%				4.6		%
Adjusted:
Total adjusted SG&A expenses as a % of gross profit			72.9		%				76.9		%				400			bps

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Earnings Per Share from Continuing Operations - Non-GAAP Reconciliation

			Three Months Ended December 31, 2020																		Three Months Ended December 31, 2019
			Weighted- Average Shares						Amount						Per Share Amount						Weighted- Average Shares						Amount						Per Share Amount
			(In thousands, except per share amounts)
Diluted earnings (loss) and shares from continuing operations			44,022						$	57,483					$	1.31					44,463						$	46,272					$	1.04
Pre-tax items of interest:
Gain on franchise and real estate disposals									$	(6,039)																	$	(29,303)
Loss on debt extinguishment									—																		7,157
Impairment charges									1,158																		17,692
Total pre-tax items of interest									$	(4,881)																	$	(4,454)
Tax effect of above items									1,281																		1,292
Non-recurring tax items									11,941																		—
Adjusted diluted earnings (loss) and shares from continuing operations			44,022						$	65,824					$	1.50					44,463						$	43,110					$	0.97

			Twelve Months Ended December 31, 2020																		Twelve Months Ended December 31, 2019
			Weighted- Average Shares						Amount						Per Share Amount						Weighted- Average Shares						Amount						Per Share Amount
			(In thousands, except per share amounts)
Diluted earnings (loss) and shares from continuing operations(1)			42,483						$	(50,664)					$	(1.19)					43,710						$	144,537					$	3.31
Pre-tax items of interest:
Gain on franchise and real estate disposals									$	(9,188)																	$	(75,983)
Executive transition costs									—																		6,264
Loss on debt extinguishment									—																		7,157
Impairment charges									269,158																		19,618
Total pre-tax items of interest									$	259,970																	$	(42,944)
Tax effect of above items									(40,421)																		14,193
Adjusted diluted earnings (loss) and shares from continuing operations			43,903						$	168,885					$	3.85					43,710						$	115,786					$	2.65

(1) Basic weighted-average shares used for twelve months ended December 31, 2020 due to net loss on reported GAAP basis.

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Adjusted EBITDA - Non-GAAP Reconciliation

			Twelve Months Ended December 31, 2020																								Twelve Months Ended December 31, 2019
			Franchised Dealerships Segment						EchoPark Segment						Discontinued Operations						Total						Franchised Dealerships Segment						EchoPark Segment						Discontinued Operations						Total
			(In thousands)
Net income (loss)																					$	(51,385)																							$	144,137
Provision for income taxes																					15,619																								54,954
Income (loss) before taxes			$	(38,842)					$	4,078					$	(1,002)					$	(35,766)					$	210,167					$	(10,522)					$	(554)					$	199,091
Non-floor plan interest (1)			37,746						926						—						38,672						48,774						1,701						—						50,475
Depreciation and amortization (2)			82,807						11,115						—						93,922						85,093						10,553						—						95,646
Stock-based compensation expense			11,704						—						—						11,704						10,797						—						—						10,797
Loss (gain) on exit of leased dealerships			—						—						—						—						(170)						—						—						(170)
Asset impairment charges			270,017						—						—						270,017						1,101						19,667						—						20,768
Loss (gain) on debt extinguishment			—						—						—						—						6,690						—						—						6,690
Loss (gain) on franchise and real estate disposals			(3,095)						(5,152)						—						(8,247)						(74,812)						—						—						(74,812)
Adjusted EBITDA			$	360,337					$	10,967					$	(1,002)					$	370,302					$	287,640					$	21,399					$	(554)					$	308,485
Long-term debt (including current portion)																					$	720,067																							$	706,886
Cash and equivalents																					(170,313)																								(29,103)
Floor plan deposit balance																					(73,180)																								—
Net debt																					$	476,574																							$	677,783
Net debt to adjusted EBITDA ratio																					1.29																								2.20

(1)Includes interest expense, other, net in the accompanying consolidated statements of operations, net of any amortization of debt issuance costs or net debt discount/premium included in (2) below.

(2)Includes the following line items from the accompanying consolidated statements of cash flows: depreciation and amortization of property and equipment; debt issuance cost amortization; and debt discount amortization, net of premium amortization.