Sonic Automotive Profile
Sonic Automotive, Inc. and its subsidiaries operate as an automotive retailer in the United States (the 'U.S.').
Segments
The company operates through three segments: Franchised Dealerships, EchoPark, and Powersports.
The Franchised Dealerships segment provides comprehensive sales and services, including sales of both new and used cars and light trucks; sales of replacement parts and performance of vehicle maintenance, manufacturer warranty repairs, and paint and collision repair services (collectively, Fixed Operations); and arrangement of third-party financing, extended warranties, service contracts, insurance and other aftermarket products (collectively, F&I) for its guests.
The EchoPark segment sells used cars and light trucks and arranges third-party F&I product sales for the company's guests in pre-owned vehicle specialty retail locations, and does not offer customer-facing Fixed Operations services.
The Powersports segment offers guests sales of both new and used powersports vehicles (such as motorcycles, personal watercraft and all-terrain vehicles); Fixed Operations activities; and F&I services. All three segments generally operate independently of one another, with the exception of certain shared back-office functions and corporate overhead costs.
The majority of the company's revenue is related to its Franchised Dealerships Segment. In 2023, EchoPark Segment revenue represented approximately 16.9% of total revenue. In 2023, Powersports segment revenue represented approximately 1.1% of total revenue.
Business Strategy
The key elements of the company's strategy are to execute its EchoPark segment strategy; expand its omnichannel capabilities; and optimize its brand portfolio.
History
Sonic Automotive, Inc. was founded in 1997. The company was incorporated in Delaware in 1997.
