Exhibit 99.1

Sonic Automotive, Inc. Reports Record Breaking 3rd Quarter Across All Operating Sectors As The “True Price” Strategy Takes Hold

CHARLOTTE, N.C. – October 21, 2013 – Sonic Automotive, Inc. (NYSE: SAH), one of the nation’s largest automotive retailers, today reported the highlights in the list below related to its performance in the quarter ended September 30, 2013. During this quarter, Sonic identified a tax gain related to the extinguishment of its 5% Convertible Senior Notes in 2011 and 2012. Sonic is evaluating the effects this gain may have over prior periods. Once this evaluation is completed, Sonic will issue an additional release reporting net income and earnings per share amounts for the quarter.

Q3 2013 Highlights

 

  •   Total revenue up 5.4% compared to the prior year quarter

 

  •   New revenue increased $65.4 million, or 5.5%, over prior year quarter

 

  •   Pre-owned revenue increased $31.9 million, or 6.0%, over prior year quarter

 

  •   All-time 3rd quarter record retailing 34,087 new units (excludes fleet)

 

  •   All-time record retailing 27,632 pre-owned units

 

  •   Pre-owned average quarterly volume per store per month at a record level - 91 units

 

  •   Q3 record fixed operations gross profit of $149.1 million, up $8.6 million, or 6.1%, compared to the prior year quarter

 

  •   Q3 record finance and insurance gross profit of $68.7 million, up 6.8%, and profit per retail unit of $1,114

 

  •   SG&A to gross profit % was 78.1%; adjusted for customer experience, pre-owned and SOX remediation costs discussed below amount was 76.7%

 

  •   Acquired two luxury dealerships in Denver, CO

B. Scott Smith, the Company’s President, noted, “I’m very proud of our team’s record-setting performance during the quarter and despite the additional costs experienced as we continue our growth initiatives, we were able to deliver growth in our operating metrics compared to the third quarter last year. In addition, we closed on the acquisition of Murray Mercedes Benz of Denver and Murray BMW of Denver, which we expect will generate combined annual revenues of approximately $200.0 million. These stores will augment our existing platform in Denver, and our acquisition of these stores, along with our plans to open stand-alone pre-owned sales operations, demonstrates our commitment to the Denver market.”

“Based on our year-to-date performance and internal forecasts, we are updating our targeted guidance range for adjusted earnings per share from previously announced amounts. We are targeting adjusted fully diluted earnings per share from continuing operations at $1.96-$2.03 for the full year 2013. This update reflects a tightening of our guidance range as we feel comfortable that we will be at the upper end of our original guidance of $1.93 to $2.03.

The Company’s EVP of Operations, Jeff Dyke, commented, “It’s exciting to see the progress we made this quarter. As announced today under separate cover, we will begin our One Sonic-One Experience launch in mid-2014. True Price is an important part of this launch. We have noted in the past that it would take some time for the True Price process to settle into our culture and we are finally beginning to see margins improving along with record breaking unit volumes. While we still have a long way to go, I am encouraged by this quarter’s results as we work toward improving even more in Q4. Overall, we had record breaking performances across New, Pre Owned, Fixed and F&I so I could not be more pleased with our results and the efforts of this team as we work toward our One Sonic-One Experience launch.”

For further discussion of our pre-owned and One Sonic-One Experience initiatives, see our separate release dated today.

Third Quarter Operations Review Conference Call

Senior management will host a conference call today at 10:00 A.M. (Eastern) to discuss the quarter’s operations. To access the live broadcast of the call over the Internet go to: www.sonicautomotive.com, then click on “Our Company”, then “Investor Relations”, then “Earnings Conference Calls”.

Presentation materials for the conference call can be accessed on the Company’s website at www.sonicautomotive.com by clicking on the “Investor Relations” tab under “Our Company” and choosing “Webcasts & Presentations”.

The conference call will also be available live by dialing in 10 minutes prior to the start of the call at:

Domestic: 1.877.441.0824

International: 1.706.643.0958

A conference call replay will be available one hour following the call for seven days and can be accessed by calling:

Domestic: 1.855.859.2056

International: 1.404.537.3406

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 anticipated growth in used vehicle sales, targeted adjusted earnings per share for the year ended December 31, 2013, an anticipated tax

benefit and anticipated future success and impacts from the implementation of our strategic initiatives. 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 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 ending December 31, 2012 and quarterly report on Form 10-Q for the period ended June 30, 2013. The Company does not undertake any obligation to update forward-looking information.

###

Sonic Automotive, Inc.

Results of Operations (Unaudited)

(dollars in thousands)

 

     Third Quarter
Ended
September 30,
2013		     Third Quarter
Ended
September 30,
2012		  

Revenues:

     

New retail vehicles

    $ 1,219,525      $ 1,158,524   

Fleet vehicles

      41,745        37,302   
  

 

 

    

 

 

  

Total new vehicles

      1,261,270        1,195,826   

Used vehicles

      559,848        527,914   

Wholesale vehicles

      42,731        52,280   
  

 

 

    

 

 

  

Total vehicles

      1,863,849        1,776,020   

Parts, service and collision repair

      309,600        287,311   

Finance, insurance and other

      68,747        64,390   
  

 

 

    

 

 

  

Total revenues

      2,242,196        2,127,721   

Gross profit

      326,081        304,428   

Selling, general and administrative expenses

      (254,564 )      (235,328 ) 

Impairment charges

      (18 )      (23 ) 

Depreciation and amortization

      (13,744 )      (11,295 ) 
  

 

 

    

 

 

  

Operating income (loss)

    $ 57,755      $ 57,782   
  

 

 

    

 

 

  

Gross Margin Data (Continuing Operations):

     

New retail vehicles

      5.9 %      5.7 % 

Fleet vehicles

      2.5 %      2.5 % 

Total new vehicles

      5.7 %      5.6 % 

Used vehicles

      7.0 %      6.7 % 

Wholesale vehicles

      (7.5 %)      (6.5 %) 

Parts, service and collision repair

      48.2 %      48.9 % 

Finance, insurance and other

      100.0 %      100.0 % 

Overall gross margin

      14.5 %      14.3 % 

SG&A Expenses (Continuing Operations):

     

Compensation

    $ 151,683      $ 140,771   

Advertising

      14,132        12,498   

Rent

      18,901        18,619   

Other

      69,848        63,440   
  

 

 

    

 

 

  

Total SG&A expenses

    $ 254,564      $ 235,328   

SG&A expenses as % of gross profit

      78.1 %      77.3 % 

Operating Margin %

      2.6 %      2.7 % 

Unit Data (Continuing Operations):

     

New retail units

      34,087        33,264   

Fleet units

      1,451        1,325   
  

 

 

    

 

 

  

Total new units

      35,538        34,589   

Used units

      27,632        26,610   

Wholesale units

      7,641        8,931   

Sonic Automotive, Inc.

Results of Operations (Unaudited)

(dollars in thousands)

 

     Nine Months Ended
September 30, 2013		     Nine Months Ended
September 30, 2012		  

Revenues:

     

New retail vehicles

    $ 3,520,343      $ 3,286,285   

Fleet vehicles

      131,143        126,585   
  

 

 

    

 

 

  

Total new vehicles

      3,651,486        3,412,870   

Used vehicles

      1,625,006        1,564,414   

Wholesale vehicles

      134,556        138,506   
  

 

 

    

 

 

  

Total vehicles

      5,411,048        5,115,790   

Parts, service and collision repair

      913,290        875,206   

Finance, insurance and other

      203,461        185,737   
  

 

 

    

 

 

  

Total revenues

      6,527,799        6,176,733   

Gross profit

      962,907        921,034   

Selling, general and administrative expenses

      (748,479 )      (712,228 ) 

Impairment charges

      (69 )      (57 ) 

Depreciation and amortization

      (39,020 )      (33,399 ) 
  

 

 

    

 

 

  

Operating income (loss)

    $ 175,339      $ 175,350   
  

 

 

    

 

 

  

Gross Margin Data (Continuing Operations):

     

New retail vehicles

      5.8 %      6.0 % 

Fleet vehicles

      2.7 %      2.9 % 

Total new vehicles

      5.7 %      5.9 % 

Used vehicles

      7.1 %      7.1 % 

Wholesale vehicles

      (4.7 %)      (3.2 %) 

Parts, service and collision repair

      48.7 %      48.9 % 

Finance, insurance and other

      100.0 %      100.0 % 

Overall gross margin

      14.8 %      14.9 % 

SG&A Expenses (Continuing Operations):

     

Compensation

    $ 449,791      $ 426,463   

Advertising

      41,282        37,107   

Rent

      56,344        57,198   

Other

      201,062        191,460   
  

 

 

    

 

 

  

Total SG&A expenses

    $ 748,479      $ 712,228   

SG&A expenses as % of gross profit

      77.7 %      77.3 % 

Operating Margin %

      2.7 %      2.8 % 

Unit Data (Continuing Operations):

     

New retail units

      98,362        94,869   

Fleet units

      4,661        4,616   
  

 

 

    

 

 

  

Total new units

      103,023        99,485   

Used units

      80,700        78,613   

Wholesale units

      23,291        23,736   

Sonic Automotive, Inc.

Results of Operations (Unaudited)

(In thousands, except units and per unit data)

New Vehicles

 

     Third Quarter Ended September 30,     Better / (Worse)  
     2013     2012     Change     % Change  

Reported:

         

Revenue

    $ 1,261,270      $ 1,195,826      $ 65,444        5.5 % 

Gross profit

    $ 72,408      $ 67,312      $ 5,096        7.6 % 

Unit sales

      35,538        34,589        949        2.7 % 

Revenue per unit

    $ 35,491      $ 34,572      $ 919        2.7 % 

Gross profit per unit

    $ 2,037      $ 1,946      $ 91        4.7 % 

Gross profit as a % of revenue

      5.7 %      5.6 %      10        bps   
     Nine Months Ended September 30,     Better / (Worse)  
     2013     2012     Change     % Change  

Reported:

         

Revenue

    $ 3,651,486      $ 3,412,870      $ 238,616        7.0 % 

Gross profit

    $ 206,668      $ 200,968      $ 5,700        2.8 % 

Unit sales

      103,023        99,485        3,538        3.6 % 

Revenue per unit

    $ 35,443      $ 34,305      $ 1,138        3.3 % 

Gross profit per unit

    $ 2,006      $ 2,020      $ (14 )      (0.7 %) 

Gross profit as a % of revenue

      5.7 %      5.9 %      (20 )      bps   
     Third Quarter Ended September 30,     Better / (Worse)  
     2013     2012     Change     % Change  

Same Store:

         

Revenue

    $ 1,251,683      $ 1,195,826      $ 55,857        4.7 % 

Gross profit

    $ 71,605      $ 67,443      $ 4,162        6.2 % 

Unit sales

      35,364        34,589        775        2.2 % 

Revenue per unit

    $ 35,394      $ 34,572      $ 822        2.4 % 

Gross profit per unit

    $ 2,025      $ 1,950      $ 75        3.8 % 

Gross profit as a % of revenue

      5.7 %      5.6 %      10        bps   
     Nine Months Ended September 30,     Better / (Worse)  
     2013     2012     Change     % Change  

Same Store:

         

Revenue

    $ 3,641,900      $ 3,412,870      $ 229,030        6.7 % 

Gross profit

    $ 205,894      $ 201,687      $ 4,207        2.1 % 

Unit sales

      102,849        99,485        3,364        3.4 % 

Revenue per unit

    $ 35,410      $ 34,305      $ 1,105        3.2 % 

Gross profit per unit

    $ 2,002      $ 2,027      $ (25 )      (1.2 %) 

Gross profit as a % of revenue

      5.7 %      5.9 %      (20 )      bps   

Sonic Automotive, Inc.

Results of Operations (Unaudited)

(In thousands, except units and per unit data)

Used Vehicles

 

     Third Quarter Ended September 30,     Better / (Worse)  
     2013     2012     Change      % Change  

Reported:

          

Revenue

    $ 559,848      $ 527,914      $ 31,934         6.0 % 

Gross profit

    $ 38,976      $ 35,562      $ 3,414         9.6 % 

Unit sales

      27,632        26,610        1,022         3.8 % 

Revenue per unit

    $ 20,261      $ 19,839      $ 422         2.1 % 

Gross profit per unit

    $ 1,411      $ 1,336      $ 75         5.6 % 

Gross profit as a % of revenue

      7.0 %      6.7 %      30         bps   
     Nine Months Ended September 30,     Better / (Worse)  
     2013     2012     Change      % Change  

Reported:

          

Revenue

    $ 1,625,006      $ 1,564,414      $ 60,592         3.9 % 

Gross profit

    $ 114,615      $ 110,679      $ 3,936         3.6 % 

Unit sales

      80,700        78,613        2,087         2.7 % 

Revenue per unit

    $ 20,136      $ 19,900      $ 236         1.2 % 

Gross profit per unit

    $ 1,420      $ 1,408      $ 12         0.9 % 

Gross profit as a % of revenue

      7.1 %      7.1 %      0         bps   
     Third Quarter Ended September 30,     Better / (Worse)  
     2013     2012     Change      % Change  

Same Store:

          

Revenue

    $ 554,361      $ 527,914      $ 26,447         5.0 % 

Gross profit

    $ 38,587      $ 34,074      $ 4,513         13.2 % 

Unit sales

      27,444        26,610        834         3.1 % 

Revenue per unit

    $ 20,200      $ 19,839      $ 361         1.8 % 

Gross profit per unit

    $ 1,406      $ 1,280      $ 126         9.8 % 

Gross profit as a % of revenue

      7.0 %      6.5 %      50         bps   
     Nine Months Ended September 30,     Better / (Worse)  
     2013     2012     Change      % Change  

Same Store:

          

Revenue

    $ 1,619,519      $ 1,564,414      $ 55,105         3.5 % 

Gross profit

    $ 114,104      $ 109,984      $ 4,120         3.7 % 

Unit sales

      80,512        78,613        1,899         2.4 % 

Revenue per unit

    $ 20,115      $ 19,900      $ 215         1.1 % 

Gross profit per unit

    $ 1,417      $ 1,399      $ 18         1.3 % 

Gross profit as a % of revenue

      7.0 %      7.0 %      0         bps   

Sonic Automotive, Inc.

Results of Operations (Unaudited)

(In thousands, except units and per unit data)

Wholesale Vehicles

 

     Third Quarter Ended September 30,     Better / (Worse)  
     2013     2012     Change     % Change  

Reported:

         

Revenue

    $ 42,731      $ 52,280      $ (9,549 )      (18.3 %) 

Gross profit (loss)

    $ (3,197 )    $ (3,394 )    $ 197        5.8 % 

Unit sales

      7,641        8,931        (1,290 )      (14.4 %) 

Revenue per unit

    $ 5,592      $ 5,854      $ (262 )      (4.5 %) 

Gross profit (loss) per unit

    $ (418 )    $ (380 )    $ (38 )      (10.0 %) 

Gross profit (loss) as a % of revenue

      (7.5 %)      (6.5 %)      (100 )      bps   
     Nine Months Ended September 30,     Better / (Worse)  
     2013     2012     Change     % Change  

Reported:

         

Revenue

    $ 134,556      $ 138,506      $ (3,950 )      (2.9 %) 

Gross profit (loss)

    $ (6,343 )    $ (4,399 )    $ (1,944 )      (44.2 %) 

Unit sales

      23,291        23,736        (445 )      (1.9 %) 

Revenue per unit

    $ 5,777      $ 5,835      $ (58 )      (1.0 %) 

Gross profit (loss) per unit

    $ (272 )    $ (185 )    $ (87 )      (47.0 %) 

Gross profit (loss) as a % of revenue

      (4.7 %)      (3.2 %)      (150 )      bps   
     Third Quarter Ended September 30,     Better / (Worse)  
     2013     2012     Change     % Change  

Same Store:

         

Revenue

    $ 42,433      $ 52,280      $ (9,847 )      (18.8 %) 

Gross loss

    $ (3,191 )    $ (3,394 )    $ 203        6.0 % 

Unit sales

      7,612        8,931        (1,319 )      (14.8 %) 

Revenue per unit

    $ 5,574      $ 5,854      $ (280 )      (4.8 %) 

Gross loss per unit

    $ (419 )    $ (380 )    $ (39 )      (10.3 %) 

Gross loss as a % of revenue

      (7.5 %)      (6.5 %)      (100 )      bps   
     Nine Months Ended September 30,     Better / (Worse)  
     2013     2012     Change     % Change  

Same Store:

         

Revenue

    $ 134,257      $ 138,506      $ (4,249 )      (3.1 %) 

Gross loss

    $ (6,336 )    $ (4,399 )    $ (1,937 )      (44.0 %) 

Unit sales

      23,262        23,736        (474 )      (2.0 %) 

Revenue per unit

    $ 5,772      $ 5,835      $ (63 )      (1.1 %) 

Gross loss per unit

    $ (272 )    $ (185 )    $ (87 )      (47.0 %) 

Gross loss as a % of revenue

      (4.7 %)      (3.2 %)      (150 )      bps   

Sonic Automotive, Inc.

Results of Operations (Unaudited)

(In thousands)

Parts, Service and Collision Repair (“Fixed Operations”)

 

     Third Quarter Ended September 30,     Better / (Worse)  
     2013     2012     Change     % Change  

Reported:

         

Revenue

         

Customer Pay

    $ 137,106      $ 131,126      $ 5,980        4.6 % 

Warranty

      45,405        40,632        4,773        11.7 % 

Wholesale Parts

      43,349        37,720        5,629        14.9 % 

Internal, Sublet & Other

      83,740        77,833        5,907        7.6 % 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

    $ 309,600      $ 287,311      $ 22,289        7.8 % 
  

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit

         

Customer Pay

    $ 75,203      $ 71,939      $ 3,264        4.5 % 

Warranty

      24,374        21,225        3,149        14.8 % 

Wholesale Parts

      7,881        7,249        632        8.7 % 

Internal, Sublet & Other

      41,689        40,145        1,544        3.8 % 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

    $ 149,147      $ 140,558      $ 8,589        6.1 % 
  

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit as a % of revenue

         

Customer Pay

      54.9 %      54.9 %      0        bps   

Warranty

      53.7 %      52.2 %      150        bps   

Wholesale Parts

      18.2 %      19.2 %      (100 )      bps   

Internal, Sublet & Other

      49.8 %      51.6 %      (180 )      bps   
  

 

 

    

 

 

    

 

 

    

Total

      48.2 %      48.9 %      (70 )      bps   
     Nine Months Ended September 30,     Better / (Worse)  
     2013     2012     Change     % Change  

Reported:

         

Revenue

         

Customer Pay

    $ 407,252      $ 395,080      $ 12,172        3.1 % 

Warranty

      137,489        126,343        11,146        8.8 % 

Wholesale Parts

      124,870        115,545        9,325        8.1 % 

Internal, Sublet & Other

      243,679        238,238        5,441        2.3 % 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

    $ 913,290      $ 875,206      $ 38,084        4.4 % 
  

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit

         

Customer Pay

    $ 224,485      $ 217,840      $ 6,645        3.1 % 

Warranty

      74,657        66,315        8,342        12.6 % 

Wholesale Parts

      23,158        22,250        908        4.1 % 

Internal, Sublet & Other

      122,206        121,644        562        0.5 % 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

    $ 444,506      $ 428,049      $ 16,457        3.8 % 
  

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit as a % of revenue

         

Customer Pay

      55.1 %      55.1 %      0        bps   

Warranty

      54.3 %      52.5 %      180        bps   

Wholesale Parts

      18.5 %      19.3 %      (80 )      bps   

Internal, Sublet & Other

      50.2 %      51.1 %      (90 )      bps   
  

 

 

    

 

 

    

 

 

    

Total

      48.7 %      48.9 %      (20 )      bps   

Sonic Automotive, Inc.

Results of Operations (Unaudited)

(In thousands)

Parts, Service and Collision Repair (“Fixed Operations”)

 

     Third Quarter Ended September 30,     Better / (Worse)  
     2013     2012     Change     % Change  

Same Store:

         

Revenue

         

Customer Pay

    $ 134,642      $ 131,126      $ 3,516        2.7 % 

Warranty

      44,571        40,632        3,939        9.7 % 

Wholesale Parts

      42,695        37,720        4,975        13.2 % 

Internal, Sublet & Other

      82,898        77,833        5,065        6.5 % 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

    $ 304,806      $ 287,311      $ 17,495        6.1 % 
  

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit

         

Customer Pay

    $ 73,885      $ 71,939      $ 1,946        2.7 % 

Warranty

      23,918        21,225        2,693        12.7 % 

Wholesale Parts

      7,717        7,249        468        6.5 % 

Internal, Sublet & Other

      41,037        39,836        1,201        3.0 % 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

    $ 146,557      $ 140,249      $ 6,308        4.5 % 
  

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit as a % of revenue

         

Customer Pay

      54.9 %      54.9 %      0        bps   

Warranty

      53.7 %      52.2 %      150        bps   

Wholesale Parts

      18.1 %      19.2 %      (110 )      bps   

Internal, Sublet & Other

      49.5 %      51.2 %      (170 )      bps   
  

 

 

    

 

 

    

 

 

    

Total

      48.1 %     48.8 %      (70 )      bps   
     Nine Months Ended September 30,     Better / (Worse)  
     2013     2012     Change     % Change  

Same Store:

         

Revenue

         

Customer Pay

    $ 404,788      $ 395,080      $ 9,708        2.5 % 

Warranty

      136,655        126,343        10,312        8.2 % 

Wholesale Parts

      124,216        115,545        8,671        7.5 % 

Internal, Sublet & Other

      242,836        238,238        4,598        1.9 % 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

    $ 908,495      $ 875,206      $ 33,289        3.8 % 
  

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit

         

Customer Pay

    $ 223,166      $ 217,840      $ 5,326        2.4 % 

Warranty

      74,511        66,315        8,196        12.4 % 

Wholesale Parts

      22,995        22,250        745        3.3 % 

Internal, Sublet & Other

      121,261        120,986        275        0.2 % 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

    $ 441,933      $ 427,391      $ 14,542        3.4 % 
  

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit as a % of revenue

         

Customer Pay

      55.1 %      55.1 %      0        bps   

Warranty

      54.5 %      52.5 %      200        bps   

Wholesale Parts

      18.5 %      19.3 %      (80 )      bps   

Internal, Sublet & Other

      49.9 %      50.8 %      (90 )      bps   
  

 

 

    

 

 

    

 

 

    

Total

      48.6 %      48.8 %      (20 )      bps   

Sonic Automotive, Inc.

Results of Operations (Unaudited)

(In thousands, except per unit data)

Finance, Insurance and Other (“F&I”)

 

     Third Quarter Ended September 30,      Better / (Worse)  
     2013      2012      Change      % Change  

Reported:

            

Revenue

    $ 68,747       $ 64,390       $ 4,357         6.8 % 

Gross profit per retail unit (excludes fleet)

    $ 1,114       $ 1,075       $ 39         3.6 % 
     Nine Months Ended September 30,      Better / (Worse)  
     2013      2012      Change      % Change  

Reported:

            

Revenue

    $ 203,461       $ 185,737       $ 17,724         9.5 % 

Gross profit per retail unit (excludes fleet)

    $ 1,136       $ 1,071       $ 65         6.1 % 
     Third Quarter Ended September 30,      Better / (Worse)  
     2013      2012      Change      % Change  

Same Store:

            

Revenue

    $ 68,267       $ 64,240       $ 4,027         6.3 % 

Gross profit per retail unit (excluding fleet)

    $ 1,113       $ 1,073       $ 40         3.7 % 
     Nine Months Ended September 30,      Better / (Worse)  
     2013      2012      Change      % Change  

Same Store:

            

Revenue

    $ 202,996       $ 185,081       $ 17,915         9.7 % 

Gross profit per retail unit (excluding fleet)

    $ 1,136       $ 1,067       $ 69         6.5 % 

Sonic Automotive, Inc.

Results of Operations (Unaudited)

(In thousands)

Selling, General and Administrative (“SG&A”) Expenses

 

     Third Quarter Ended
September 30,		     Better / (Worse)  
     2013     2012     Change     % Change  

Compensation

    $ 151,683      $ 140,771      $ (10,912 )      (7.8 %) 

Advertising

      14,132        12,498        (1,634 )      (13.1 %) 

Rent

      18,901        18,619        (282 )      (1.5 %) 

Other

      69,848        63,440        (6,408 )      (10.1 %) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

    $ 254,564      $ 235,328      $ (19,236 )      (8.2 %) 
  

 

 

    

 

 

    

 

 

    

 

 

  

SG&A as a % of gross profit

         

Compensation

      46.5 %      46.2 %      (30 )      bps   

Advertising

      4.3 %      4.1 %      (20 )      bps   

Rent

      5.8 %      6.1 %      30        bps   

Other

      21.5 %      20.9 %      (60 )      bps   
  

 

 

    

 

 

    

 

 

    

Total

      78.1 %      77.3 %      (80 )      bps   
     Nine Months Ended
September 30,		     Better / (Worse)  
     2013     2012     Change     % Change  

Compensation

    $ 449,791      $ 426,463      $ (23,328 )      (5.5 %) 

Advertising

      41,282        37,107        (4,175 )      (11.3 %) 

Rent

      56,344        57,198        854        1.5 % 

Other

      201,062        191,460        (9,602 )      (5.0 %) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

    $ 748,479      $ 712,228      $ (36,251 )      (5.1 %) 
  

 

 

    

 

 

    

 

 

    

 

 

  

SG&A as a % of gross profit

         

Compensation

      46.7 %      46.3 %      (40 )      bps   

Advertising

      4.3 %      4.0 %      (30 )   

Rent

      5.9 %      6.2 %      30        bps   

Other

      20.8 %      20.8 %      (0 )      bps   
  

 

 

    

 

 

    

 

 

    

Total

      77.7 %      77.3 %      (40 )      bps