Exhibit 99.2

Cautionary Notice Regarding
Forward-Looking Statements
•
This presentation contains statements that constitute “forward-looking
statements”
within the meaning of Section 27A of the Securities Act of 1933
and
Section 21E of the Securities Exchange Act of 1934.
•
These forward-looking statements are not historical facts, but only predictions
by our company and/or our company’s management.
•
These statements generally can be identified by lead-in words such as “believe,”
“expect”
“anticipate,”
“intend,”
“plan,”
“foresee”
and other similar words. 
Similarly, statements that describe our company’s objectives, plans or goals are
also forward-looking statements.
•
You are cautioned that these forward-looking statements are not guarantees of
future performance and involve risks and uncertainties, and that
actual results
may differ materially from those projected in the forward-looking statements as
a results of various factors. Among others, factors that could materially
adversely affect actual results and performance include those risk factors that are
listed in Sonic Automotive’s Form 10-K for the year ended December 31, 2006.

Sonic Automotive
First Quarter 2007
Earnings Review
May 1, 2007

The Quarter in Review
•
Earnings from Continuing Operations up
10.0%
•
Fixed Operations, Used Vehicles and F&I
driving top line and profit improvements
•
SG&A as a percent of gross profit
improved 90 basis points to 77.4%
•
Operating margin improved 10bps to
3.3%.
1

Strategy in Motion
•
Used Vehicle (Champion) process
•
Standard F&I menu
•
Fixed Operations
•
Single DMS
•
Digital Marketing
•
Growth through prudent acquisitions
•
ASI + CSI + MSI = ROI
2

Financial Performance
(amounts in millions, except per share data)
2007
2006
Better/
(Worse)
Revenue
$1,954
$1,886
$68
Gross Profit
$310
$298
$12
Operating Profit
   – Amount
$64
$60
$4
   – Margin
3.3%
3.2%
Net Income
   – Continuing Operations
$23.7
$21.5
$2.2
   – Total Operations
20.0
17.1
2.9
EPS
   – Continuing Operations
$0.52
$0.49
$0.03
   – Total Operations
0.44
0.39
0.05
Q1
Up
4.2%
Up
3.6%
Up
7.7%
Up
10.0%
3

Same Store Revenue Growth
•
Solid performance across all business segments
•
Used and F&I processes driving improved performance in both areas
•
Service Capacity investment contributing to growth
2.1%
5.1%
5.4%
6.3%
3.3%
(13.8%)
2.2%
New
Used
Fixed
Operations
F&I
Sub Total
Wholesale
Total
4

Used Vehicles
Process in Motion
5
Q1 07
Q1 06
Change
Champion Stores
Used to new ratio
0.53
0.49
0.04
Used retail volume
12,405
11,355
9.2%
Total Sonic
Used to new ratio
0.53
0.51
0.02
Used retail volume
17,008
16,144
5.4%
Memo:
Used to New Ratio
California
0.33
0.32
0.01
Total Luxury
0.56
0.50
0.06
Progress

Used Vehicles
6
Margin
Gross Per
Unit
Domestic (excl. Cadillac)
11.9%
$1,846
Luxury Imports (incl. Cadillac)
8.6%
$2,311
Other Imports
12.5%
$1,772
Total
10.3%
$1,995
Brand Mix -
Used Revenue
18.4%
54.1%
27.5%
Domestic (excl. Cadillac)
Luxury Imports (incl. Cadillac)
Other Imports

F&I
Process in Motion
7
F&I Per Unit
$959
$969
$994
$940
$950
$960
$970
$980
$990
$1,000
Q1 2006
Q4 2006
Q1 2007
$35

Fixed Operations
Process in Motion
•
Revenue from Fixed Operations reached a sector
leading 15.1% of Total Revenue in Q1.
•
Total Customer Pay revenue grew over 11%;
Gross Profit increased nearly 12%. 
•
A total of 102 incremental stalls were added in
2006;  138 more are planned for 2007. 
8
Spend money where you make money

SG&A Expenses as % of Gross Profit
8.0%
70.3%
69.0%
8.4%
Q1 2007
Q1 2006
All Other SG&A
Rent
78.3%
77.4%
40 bps
130 bps
9
87.9%
86.8%
Fixed Absorption

Inventory Management
Days Supply
Mar-07
Mar-06
Industry
New Vehicles
Domestic (excluding Cadillac)
61
61
80
Luxury (including Cadillac)
49
48
53
Other Imports
53
48
51
Overall
54
53
67
Used Vehicles
37
40
Parts
34
35
10

Debt to Capital Ratio*
39.4%
38.9%
Q1 2007
Q4 2006
50 bps
*Net of cash and excludes impact of FIN 48
11

Portfolio Enrichment
Percent of Total Revenue
18%
17%
51%
52%
31%
31%
Q1 2006
Q1 2007
Domestic
Luxury
Other Imports
12
100%
100%
Luxury and Import at 83%

Summary
•
Execution of key initiatives continues
–
Used vehicles, fixed operations, and F&I
•
Executing disciplined and prudent acquisition
strategy –
targeting 10%-15% of revenue
•
Strategy is sound; team focused on delivering
results
•
Top priority: Improved profits and cash flow
13
Re-affirming Full Year Guidance
$2.48 -
$2.58