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Sonic Sets Used Record

Sonic Sets Used Record Featured

Sonic Automotive Inc. reported record fourth-quarter pre-owned unit sales and gross profit.
The chain's stores sold 29,621 used units in the fourth quarter for a gross profit of $41.5 million.
Sonic also reported that several of the original EchoPark stores in Denver were cash flow positive in the fourth quarter at the store operating level. The first of these used-car stores that has been open the longest was profitable for the year.
Sonic has an additional store opening in Colorado Springs in the second quarter that will bring its store count total in Colorado to six.  The next market will be San Antonio, where Sonic anticipates openings of at least three new locations in late 2017.
Sonic plans this aggressive expansion despite projecting a loss related to EchoPark for 2017.

Last modified on Tuesday, 21 February 2017 19:45
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