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Sonic Speeds up EchoPark Expansion

Sonic Speeds up EchoPark Expansion Featured

Sonic Automotive Inc. set another record for pre-owned sales and announced plans to expand its EchoPark used-car superstores at a faster rate.Sonic reported record pre-owned sales of 30,536 units in the second quarter, contributing gross profit of $40 million.The chain’s EchoPark stores retailed 2,049 units, up 80.4 percent over the prior year quarter.Sonic now plans to accelerate expansion of an additional 15 EchoPark stores by the end of 2018.All this growth does come with a price. The existing EchoPark stores created a net after-tax loss from operations of $4.7 million.
Last modified on Sunday, 30 July 2017 15:23
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