EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Sonic Automotive, Inc. Posts All-Time Record Pre-Owned Unit Sales and Q1 Record Pre-Owned Gross Profits

CHARLOTTE, N.C. – April 22, 2014 – Sonic Automotive, Inc. (NYSE: SAH), one of the nation’s largest automotive retailers, today reported 2014 first quarter earnings from continuing operations of $20.0 million compared to $21.7 million in the prior year quarter. Continuing operations earnings per diluted share were $0.38 in the first quarter of 2014 compared to $0.41 in the prior year quarter. Sonic estimates that first quarter 2014 weather events in the southeast negatively affected continuing operations earnings per diluted share by approximately $0.02. Expenses attributable to Sonic’s stand-alone pre-owned store initiative also reduced continuing operations earnings per diluted share by an additional $0.02 in the first quarter of 2014.

Q1 2014 Highlights:

•

All-time record pre-owned unit sales of 27,657 in Q1 2014

•

Record Q1 pre-owned gross profit of $40.7 million in 2014

•

Pre-owned unit sales per store per month reached 90 units in Q1 2014

•

Q1 2014 fixed operations revenue up $22.1 million, or 7.5% over the prior year quarter

•

Record Q1 fixed operations gross profit of $152.1 million, up $7.9 million over the prior year quarter

B. Scott Smith, the Company’s President, noted, “We have been very busy in the first quarter. I’m happy with the progress we have made in both pre-owned and in our customer experience initiatives. We are very excited about the opening of our pre-owned stores in Denver expected in the fourth quarter 2014. Our collection of highly skilled professionals, operational playbooks and state-of-the-art technology will provide us with a competitive advantage over others in this pre-owned space.”

“With our customer experience initiative (One-Sonic One-Experience), we intend on helping the retail automotive industry change toward the way current and future consumers want to shop for cars and trucks. Our goal is to provide options to customers that are enjoyable, transparent and consistent with their lifestyles. We plan on beginning the roll out this new shopping experience to our customers in the Charlotte, North Carolina market in the third quarter of 2014, and we will launch the customer experience initiative in other markets after the Charlotte roll out is complete.”

“We would also like to reiterate our targeted range of diluted earnings per share from continuing operations for full year 2014 of $1.95 to $2.05. This range includes an expected $0.14 per diluted share effect related to costs of our stand-alone pre-owned initiative. Excluding the anticipated effects of this initiative, our targeted range of diluted earnings per share from continuing operations for full year 2014 is $2.09 to $2.19.”

Jeff Dyke, Sonic’s EVP of Operations, stated, “We continue to demonstrate our ability to operate and grow in the pre-owned space at record levels. Compared to the prior year quarter, we were able to grow pre-owned unit sales by 4.5% and pre-owned gross profit by 7.0%. In addition, our fixed operations teams were able to achieve record results despite the weather issues that plagued many of our southeastern stores during the quarter. We achieved fixed operations revenue and gross profit growth over the prior year quarter of 7.5% and 5.5%, respectively. While new retail unit volumes were relatively flat compared to the prior year quarter, we were able to increase our gross profit per unit to $2,191, up $58 per unit versus Q1 2013. We continue to make progress on our One-Sonic One-Experience and stand-alone pre-owned store projects, which are all on track. While the weather caused a slowdown in January and February, we still beat our internal forecast for Q1 2014, and we remain on track to achieve our EPS target for the full year.”

“We continue testing our True Price^® pricing methodology. This quarter we began to see two things happen – as the market grew stronger, our share stabilized, and we grew market share sequentially over the prior quarter and we were able to grow new car margin by $58 per retail unit. This marks the first time in over a year of adjusting our model that both share and margin grew together in the quarter. As we move toward our One-Sonic One-Experience launch, we expect to gain significant market share as customers benefit from the entire complement of our new shopping experience. Bottom line, when we fully implement One-Sonic One-Experience, we will offer the automobile buying community a shopping experience that no other competitor in our industry can offer, or will be able to offer, for several years to come.”

First Quarter Earnings Conference Call

Senior management will host a conference call today at 10:00 A.M. (Eastern) to discuss the quarter’s results. 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: 1.877.450.3867

International: 1.706.643.0958

Conference ID: 76537421

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

Conference ID: 76537421

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 earnings per share from continuing operations, expected expense impacts of our company’s stand-alone pre-owned store initiative, anticipated growth in new vehicle sales, and anticipated future success and impacts from the implementation of our planned customer experience and stand-alone pre-owned store 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, 2013. The Company does not undertake any obligation to update forward-looking information.

###


Contact:		Heath Byrd, Chief Financial Officer (704) 566-2400
		C.G. Saffer, Vice President and Chief Accounting Officer (704) 566-2439

Sonic Automotive, Inc.

Results of Operations (Unaudited)


	First Quarter Ended March 31, 2014			First Quarter Ended March 31, 2013
	(In thousands, except per share and unit data)
Revenues:
New retail vehicles	$	1,112,291		$	1,101,109
Fleet vehicles		34,329			41,947

Total new vehicles		1,146,620			1,143,056
Used vehicles		559,816			526,182
Wholesale vehicles		41,598			51,792

Total vehicles		1,748,034			1,721,030
Parts, service and collision repair		318,771			296,642
Finance, insurance and other, net		69,581			65,494

Total revenues		2,136,386			2,083,166
Gross profit		329,000			313,020
Selling, general and administrative expenses		(263,973	)		(245,824	)
Impairment charges		(3	)		(15	)
Depreciation and amortization		(14,381	)		(12,134	)

Operating income (loss)		50,643			55,047
Other income (expense):
Interest expense, floor plan		(4,689	)		(5,213	)
Interest expense, other, net		(13,818	)		(14,359	)
Other income (expense), net		97			95

Total other income (expense)		(18,410	)		(19,477	)

Income (loss) from continuing operations before taxes		32,233			35,570
Provision for income taxes - benefit (expense)		(12,249	)		(13,873	)

Income (loss) from continuing operations		19,984			21,697

Income (loss) from discontinued operations		(598	)		(406	)

Net income (loss)	$	19,386		$	21,291

Diluted earnings (loss) per common share:
Earnings (loss) per share from continuing operations	$	0.38		$	0.41
Earnings (loss) per share from discontinued operations		(0.02	)		(0.01	)

Earnings (loss) per common share	$	0.36		$	0.40

Weighted average common shares outstanding		52,946			52,931

Gross Margin Data (Continuing Operations):
New retail vehicles		5.9	%		5.9	%
Fleet vehicles		2.6	%		3.0	%
Total new vehicles		5.8	%		5.8	%
Used vehicles		7.3	%		7.2	%
Wholesale vehicles		(0.2	%)		(2.3	%)
Parts, service and collision repair		47.7	%		48.6	%
Finance, insurance and other		100.0	%		100.0	%
Overall gross margin		15.4	%		15.0	%

SG&A Expenses (Continuing Operations):
Compensation	$	157,154		$	148,580
Advertising		14,119			13,431
Rent		18,535			19,022
Other		74,165			64,791

Total SG&A expenses	$	263,973		$	245,824
SG&A expenses as % of gross profit		80.2	%		78.5	%

Operating Margin %		2.4	%		2.6	%

Unit Data (Continuing Operations):
New retail units		30,029			30,590
Fleet units		1,102			1,493

Total new units		31,131			32,083
Used units		27,657			26,469
Wholesale units		7,380			8,393

Sonic Automotive, Inc.

Results of Operations (Unaudited)

Per Share Data


	First Quarter Ended March 31, 2014
			Income (Loss) From Continuing Operations					Income (Loss) From Discontinued Operations						Net income (Loss)
	Weighted Average Shares		Amount			Per Share Amount		Amount			Per Share Amount			Amount			Per Share Amount
	(In thousands, except per share amounts)
Reported:
Earnings (loss) and shares		52,418	$	19,984				$	(598	)				$	19,386
Effect of participating securities:
Non-vested restricted stock and stock units				(63	)				—						(63	)

Basic earnings (loss) and shares		52,418	$	19,921		$	0.38	$	(598	)	$	(0.01	)	$	19,323		$	0.37
Effect of dilutive securities:
Stock compensation plans		528

Diluted earnings (loss) and shares		52,946	$	19,921		$	0.38	$	(598	)	$	(0.02	)	$	19,323		$	0.36


	First Quarter Ended March 31, 2013
			Income (Loss) From Continuing Operations					Income (Loss) From Discontinued Operations						Net Income (Loss)
	Weighted Average Shares		Amount			Per Share Amount		Amount			Per Share Amount			Amount			Per Share Amount
	(In thousands, except per share amounts)
Reported:
Earnings (loss) and shares		52,586	$	21,697				$	(406	)				$	21,291
Effect of participating securities:
Non-vested restricted stock and stock units				(170	)				—						(170	)

Basic earnings (loss) and shares		52,586	$	21,527		$	0.41	$	(406	)	$	(0.01	)	$	21,121		$	0.40
Effect of dilutive securities:
Stock compensation plans		345

Diluted earnings (loss) and shares		52,931	$	21,527		$	0.41	$	(406	)	$	(0.01	)	$	21,121		$	0.40

Sonic Automotive, Inc.

Results of Operations (Unaudited)

New Vehicles


	First Quarter Ended March 31,						Better / (Worse)
	2014			2013			Change			% Change
	(In thousands, except units and per unit data)
Reported:
Revenue	$	1,146,620		$	1,143,056		$	3,564			0.3	%
Gross profit	$	66,673		$	66,470		$	203			0.3	%
Unit sales		31,131			32,083			(952	)		(3.0	%)
Revenue per unit	$	36,832		$	35,628		$	1,204			3.4	%
Gross profit per unit	$	2,142		$	2,072		$	70			3.4	%
Gross profit as a % of revenue		5.8	%		5.8	%		0			bps

	First Quarter Ended March 31,						Better / (Worse)
	2014			2013			Change			% Change
	(In thousands, except units and per unit data)
Same Store:
Revenue	$	1,129,303		$	1,143,056		$	(13,753	)		(1.2	%)
Gross profit	$	65,372		$	66,341		$	(969	)		(1.5	%)
Unit sales		30,818			32,083			(1,265	)		(3.9	%)
Revenue per unit	$	36,644		$	35,628		$	1,016			2.9	%
Gross profit per unit	$	2,121		$	2,068		$	53			2.6	%
Gross profit as a % of revenue		5.8	%		5.8	%		0			bps

Sonic Automotive, Inc.

Results of Operations (Unaudited)

Used Vehicles


	First Quarter Ended March 31,						Better / (Worse)
	2014			2013			Change		% Change
	(In thousands, except units and per unit data)
Reported:
Revenue	$	559,816		$	526,182		$	33,634		6.4	%
Gross profit	$	40,693		$	38,030		$	2,663		7.0	%
Unit sales		27,657			26,469			1,188		4.5	%
Revenue per unit	$	20,241		$	19,879		$	362		1.8	%
Gross profit per unit	$	1,471		$	1,437		$	34		2.4	%
Gross profit as a % of revenue		7.3	%		7.2	%		10		bps

	First Quarter Ended March 31,						Better / (Worse)
	2014			2013			Change		% Change
	(In thousands, except units and per unit data)
Same Store:
Revenue	$	546,937		$	526,182		$	20,755		3.9	%
Gross profit	$	39,870		$	37,262		$	2,608		7.0	%
Unit sales		27,126			26,469			657		2.5	%
Revenue per unit	$	20,163		$	19,879		$	284		1.4	%
Gross profit per unit	$	1,470		$	1,408		$	62		4.4	%
Gross profit as a % of revenue		7.3	%		7.1	%		20		bps

Sonic Automotive, Inc.

Results of Operations (Unaudited)

Wholesale Vehicles


	First Quarter Ended March 31,						Better / (Worse)
	2014			2013			Change			% Change
	(In thousands, except units and per unit data)
Reported:
Revenue	$	41,598		$	51,792		$	(10,194	)		(19.7	%)
Gross profit (loss)	$	(93	)	$	(1,203	)	$	1,110			92.3	%
Unit sales		7,380			8,393			(1,013	)		(12.1	%)
Revenue per unit	$	5,637		$	6,171		$	(534	)		(8.7	%)
Gross profit (loss) per unit	$	(13	)	$	(143	)	$	130			90.9	%
Gross profit (loss) as a % of revenue		(0.2	%)		(2.3	%)		210			bps

	First Quarter Ended March 31,						Better / (Worse)
	2014			2013			Change			% Change
	(In thousands, except units and per unit data)
Same Store:
Revenue	$	40,627		$	51,792		$	(11,165	)		(21.6	%)
Gross profit (loss)	$	28		$	(1,203	)	$	1,231			102.3	%
Unit sales		7,270			8,393			(1,123	)		(13.4	%)
Revenue per unit	$	5,588		$	6,171		$	(583	)		(9.4	%)
Gross profit (loss) per unit	$	4		$	(143	)	$	147			102.8	%
Gross profit (loss) as a % of revenue		0.1	%		(2.3	%)		240			bps

Sonic Automotive, Inc.

Results of Operations (Unaudited)

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


	First Quarter Ended March 31,						Better / (Worse)
	2014			2013			Change			% Change
	(In thousands)
Reported:
Revenue
Customer pay	$	141,121		$	133,803		$	7,318			5.5	%
Warranty		46,591			44,813			1,778			4.0	%
Wholesale parts		47,944			40,538			7,406			18.3	%
Internal, sublet and other		83,115			77,488			5,627			7.3	%

Total	$	318,771		$	296,642		$	22,129			7.5	%

Gross profit
Customer pay	$	77,999		$	74,116		$	3,883			5.2	%
Warranty		25,238			23,895			1,343			5.6	%
Wholesale parts		8,161			7,619			542			7.1	%
Internal, sublet and other		40,748			38,599			2,149			5.6	%

Total	$	152,146		$	144,229		$	7,917			5.5	%

Gross profit as a % of revenue
Customer pay		55.3	%		55.4	%		(10	)		bps
Warranty		54.2	%		53.3	%		90			bps
Wholesale parts		17.0	%		18.8	%		(180	)		bps
Internal, sublet and other		49.0	%		49.8	%		(80	)		bps

Total		47.7	%		48.6	%		(90	)		bps

Sonic Automotive, Inc.

Results of Operations (Unaudited)

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


	First Quarter Ended March 31,						Better / (Worse)
	2014			2013			Change			% Change
	(In thousands)
Same Store:
Revenue
Customer pay	$	136,121		$	133,803		$	2,318			1.7	%
Warranty		45,237			44,813			424			0.9	%
Wholesale parts		46,607			40,538			6,069			15.0	%
Internal, sublet and other		81,538			77,489			4,049			5.2	%

Total	$	309,503		$	296,643		$	12,860			4.3	%

Gross profit
Customer pay	$	75,365		$	74,116		$	1,249			1.7	%
Warranty		24,523			24,195			328			1.4	%
Wholesale parts		7,820			7,619			201			2.6	%
Internal, sublet and other		39,724			38,423			1,301			3.4	%

Total	$	147,432		$	144,353		$	3,079			2.1	%

Gross profit as a % of revenue
Customer pay		55.4	%		55.4	%		0			bps
Warranty		54.2	%		54.0	%		20			bps
Wholesale parts		16.8	%		18.8	%		(200	)		bps
Internal, sublet and other		48.7	%		49.6	%		(90	)		bps

Total		47.6	%		48.7	%		(110	)		bps

Sonic Automotive, Inc.

Results of Operations (Unaudited)

Finance, Insurance and Other, Net (“F&I”)


	First Quarter Ended March 31,				Better / (Worse)
	2014		2013		Change		% Change
	(In thousands, except per unit data)
Reported:
Revenue	$	69,581	$	65,494	$	4,087		6.2	%
Gross profit per retail unit (excludes fleet)	$	1,206	$	1,148	$	58		5.1	%

	First Quarter Ended March 31,				Better / (Worse)
	2014		2013		Change		% Change
	(In thousands, except per unit data)
Same Store:
Revenue	$	68,408	$	65,507	$	2,901		4.4	%
Gross profit per retail unit (excludes fleet)	$	1,203	$	1,148	$	55		4.8	%

Sonic Automotive, Inc.

Results of Operations (Unaudited)

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


	First Quarter Ended March 31,						Better / (Worse)
	2014			2013			Change			% Change
	(In thousands)
Compensation	$	157,154		$	148,580		$	(8,574	)		(5.8	%)
Advertising		14,119			13,431			(688	)		(5.1	%)
Rent		18,535			19,022			487			2.6	%
Other		74,165			64,791			(9,374	)		(14.5	%)

Total	$	263,973		$	245,824		$	(18,149	)		(7.4	%)

SG&A expenses as a % of gross profit
Compensation		47.8	%		47.5	%		(30	)		bps
Advertising		4.3	%		4.3	%		0			bps
Rent		5.6	%		6.1	%		50			bps
Other		22.5	%		20.6	%		(190	)		bps

Total		80.2	%		78.5	%		(170	)		bps