Sonic Automotive

Sonic Automotive, Inc.
Public
Traded as NYSE: SAH (Class A)
S&P 600 Component
Industry Automotive
Founder O Bruton Smith
Headquarters Charlotte, North Carolina, United States
Key people
Subsidiaries EchoPark Automotive
Website www.sonicautomotive.com

Sonic Automotive is a Fortune 500 company based in Charlotte, North Carolina, and is the fifth largest automotive retailer in the United States.[2] The company’s founder and Executive Chairman O. Bruton Smith is also the Executive Chairman and a director of Speedway Motorsports (NYSE: TRK).

Sonic Automotive operates in 14 states with more than 100 dealerships representing 25 different brands of automobiles. The dealerships market new and used car, replacement parts and vehicle maintenance, as well as collision repair services.[3]

History

Sonic Automotive was launched as a public company in November 1997 by O Bruton Smith. At the time, the company had 20 stores, representing 15 brands and several hundred employees.[3] The company's founder and CEO is also the Executive Chairman and a director of Speedway Motorsports (NYSE: TRK).[3]

Sonic ranked 287th on the 2016 Fortune 500 list.[4] The company also is a member of the Russell 2000 Index.[5]

EchoPark Automotive

Sonic Automotive owns EchoPark Automotive, a used-car dealer also based in Charlotte.[6] EchoPark allows customers to look up competitors' prices on mobile devices located throughout the stores.[6]

The first EchoPark location opened in the Thornton area of Denver, Colorado in 2014. Locations in Centennial, Highlands Ranch, Littleton, and Stapleton Denver were later opened along with a store in Colorado Springs. EchoPark Automotive also operates in the San Antonio and New Braunfels as of 2018, and is expanding to the Houston and Charlotte markets in 2018. EchoPark has also purchased driversselect,[7] a Dallas area dealership, which will become an Echopark store.

EchoPark facilities are LEED certified and constructed with sustainable building technologies.[8]

EchoPark is led by the Sonic Automotive team of President and CEO Scott Smith, Vice Chairman David Smith, Executive VP of Operations Jeff Dyke and Vice President Tim Keen.

References

  1. 1 2 "Executive Team | Sonic Automotive". sonicautomotive.com. March 17, 2014. Archived from the original on March 18, 2014. Retrieved March 17, 2014.
  2. ↑ "Supplement to Automotive News: The largest auto retail groups based in the United States, ranked by unit sales of new vehicles in 2016" (PDF). autonews.com. Crain Communications. Retrieved July 14, 2017.
  3. 1 2 3 Automotive, Sonic. "About Sonic Automotive - Taking The High Road".
  4. ↑ "Fortune 500". 6 June 2016.
  5. ↑ "FTSE Russell".
  6. 1 2 Rogers, Christina (18 August 2014). "Sonic Automotive to Start Used-Car Dealership Chain" – via Wall Street Journal.
  7. ↑ "Public groups adjust plans for selling used".
  8. ↑ Wilson, Amy. "Sonic details EchoPark store plans".
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