Sonic Automotive, Inc. (Sonic) operates as an automotive retailer in the United States (the ‘U.S.’).
The company had three segments as of December 31, 2024: the Franchised Dealerships, the EchoPark, and the Powersports.
The company operates stores in the Franchised Dealerships Segment, stores in the EchoPark Segment, and stores in the Powersports Segment.
The Franchised Dealerships Segment consists of new vehicle franchises (representing 25 different brands of cars and light trucks), and coll...
Sonic Automotive, Inc. (Sonic) operates as an automotive retailer in the United States (the ‘U.S.’).
The company had three segments as of December 31, 2024: the Franchised Dealerships, the EchoPark, and the Powersports.
The company operates stores in the Franchised Dealerships Segment, stores in the EchoPark Segment, and stores in the Powersports Segment.
The Franchised Dealerships Segment consists of new vehicle franchises (representing 25 different brands of cars and light trucks), and collision repair centers in various states.
The EchoPark Segment operates in multiple states, and the Powersports Segment operates in a few states.
Segments
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 the company's 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 third-party 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 2024, Franchised Dealerships Segment revenue represented approximately 83.9% of total revenue. In 2024, EchoPark Segment revenue represented approximately 15.0% of total revenue. In 2024, 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; focus on the guest experience; optimize its brand portfolio; and increase sales of products and services.
History
Sonic Automotive, Inc. was founded in 1997. The company was incorporated in 1997.