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Q1 2013 Earnings Review

April 23, 2013

Sonic Automotive, Inc.

Exhibit 99.2

Sonic Automotive, Inc.

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Forward-Looking Statements

This presentation contains “forward-looking statements” within the meaning of the Private Securities

Litigation Reform Act of 1995.  These statements relate to future events, are not historical facts and are

based on our current expectations and assumptions regarding our business, the economy and other

future conditions.  These statements can generally be identified by lead-in words such as “believe”,

“expect”, “anticipate”, “intend”, “plan”, “foresee”, “may” ,”will” and other similar words.  Statements that

describe our Company’s objectives, plans or goals are also forward-looking statements.  Examples of

such forward-looking information we may be discussing in this presentation include, without limitation,

further implementation of our operational strategies and playbooks, future debt retirement, capital

expenditures, operating margins and revenues, inventory levels and new vehicle industry sales volume. 

You are cautioned that these forward-looking statements are not guarantees of future performance,

involve risks and uncertainties and actual results may differ materially from those projected in the

forward-looking statements as a result of various factors.  These risks and uncertainties include, among

other things, (a) economic conditions in the markets in which we operate, (b) the success of our

operational strategies, (c) our relationships with the automobile manufacturers and (d) new and 

pre-owned vehicle sales volume. These risks and uncertainties, as well as additional factors that could

affect our forward-looking statements, are described in our Form 10-K for the year ending 

December 31, 2012.

These forward-looking statements, risks, uncertainties and additional factors speak only as of the date of

this presentation.  We undertake no obligation to update any such statements.

Sonic Automotive, Inc.

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Contents

Quarter in Review

Financial Results

Operations Recap

Summary and Outlook

Sonic Automotive, Inc.

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Overall Results

Revenue Growth –

Up 8.1%

New retail revenue up 11.7% -

volume up 7.4%

Used unit volume up 3.9%

F&I revenue up 13.7%

Fixed operations revenue up 1.4%

SG&A at 78.5% -

Up 40 bps from 78.1%

Income from continuing operations of $21.7 million,

up 2.6% from the prior year quarter

Q1 2013 diluted EPS from continuing operations was

$0.41 per share vs. $0.36 per share in the prior year

period –

up 13.9%

Sonic Automotive, Inc.

Q1 2013 Results

B/(W) than Q1 2012

(amounts in millions, except per share data)

Q1 2013

$

%

Revenue

$  2,083

$ 156

8%

Gross Profit

$ 313

$ 9

3%

Operating Profit

$ 55

($ 1)

(1%)

Interest & Other

($ 19)

$ 1

6%

Continuing Ops:

Profit (after tax)

$ 22

$ 1 

3%

Diluted EPS

$ 0.41

$ 0.36

14%

SG&A as % of Gross

78.5%

(40 bps)

Discontinued Ops Profit (after tax)

$0

($1)

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SG&A to Gross

Targeting Below 77% for the Full Year

78.1%

78.5%

Sonic Automotive, Inc.

Sonic Automotive, Inc.

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Capital Spending

(amounts in millions)

YTD

2013

Estimated

2013

Real Estate

Acquisitions

$ 32.7

$ 67.3

All Other

Cap Ex

26.6

105.3

Subtotal

$ 59.3

$ 172.6

Less: Mortgage Funding

(19.2)

(70.1)

Total

Cash Used –

Cap Ex

$

40.1

$

102.5

Sonic Automotive, Inc.

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Covenant

Actual Q1

2013

Liquidity Ratio

>= 1.05

1.12

Fixed Charge Coverage Ratio

>= 1.20

1.68

Total Lease Adjusted

Leverage Ratio

<= 5.50

3.90

Debt Covenants

Compliant with all Covenants

Sonic Automotive, Inc.

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(shares in thousands)

Shares

Average

Price

Q1 2013 Activity

392

$23.27

Unused authorization of approximately $137.2 million today

Share Repurchases

Sonic Automotive, Inc.

Q1 2013

Q1 2012

B/(W)

Volume

30,590

28,490

7%

Selling Price

$ 35,996

$ 34,610

4%

Gross Margin %

5.9%

6.3%

(40 bps)

GPU

$ 2,132

$ 2,182

($ 49)

Gross Profit

$ 65 million

$ 62 million

5%

SAAR (includes fleet)

15.3 million

14.1 million

8.5%

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New Retail Vehicles

Sonic Automotive, Inc.

Q1 2013

Q1 2012

B/(W)

Retail Volume

26,469

25,478

4%

Used Retail GPU

$ 1,437

$ 1,546

($ 110)

Used Related Retail Gross*

$ 83 million

$ 81 million

$ 2 million

Used to New

0.87 : 1

0.89 : 1

(.02)

Vehicles / store / month

88

85

3

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Used Retail Vehicles

* -

Includes front-end gross plus F&I related gross and fixed operations related gross

Sonic Automotive, Inc.

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B/(W) than Q1

2012

(amounts in millions)

Q1 2013

$

%

Revenue

$ 297

$ 4

1.4%

Gross Profit

$ 144

$ 1

1.0%

Fixed Operations

QTD YOY Gross Profit Change Breakdown:

Gross up

4.2%

adjusted for

2 less fixed

ops days

•

Customer Pay Up 1.4%

•

Whsl. Parts Up 0.3%

•

Internal & Sublet down 1.5%

•

Warranty Up 4.0%

Sonic Automotive, Inc.

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Summary

Record Q1 revenues of $2.1 billion

Record new and used retail volumes

14 consecutive quarters of quarter-over-quarter revenue growth

Double digit EPS growth of 14%

Inventory in good shape going into Q2

Business environment continues to be favorable to retail automotive

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Sonic Automotive, Inc.