SONIC AUTOMOTIVE, INC.

(SAH)
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Delayed Nyse  -  04:00 2022-06-24 pm EDT
38.27 USD   +4.33%
06/23A Statement from David Smith, CEO of Sonic Automotive on the Passing of the Company's Founder and Executive Chairman Bruton Smith
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06/23SONIC AUTOMOTIVE INC : Regulation FD Disclosure (form 8-K)
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06/22Legendary Businessman, Philanthropist and NASCAR Hall of Famer Bruton Smith Passes Away
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Sonic Automotive Celebrates the Start of Construction of Audi Downtown Nashville Heralding the Future of Luxury Automotive Retail

05/11/2022 | 06:57am EDT

The Company’s Second Audi Location in Nashville is Scheduled to Open in Late 2022

Sonic Automotive, Inc. (“Sonic'' or the “Company”) (NYSE:SAH), a Fortune 500 Company and one of the nation’s largest automotive retailers, recently held a groundbreaking ceremony to celebrate the start of construction of Audi Downtown Nashville, a two-story, 35,000-square-foot building located at 15 Lindsley Avenue in the heart of the Music City’s SoBro neighborhood.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220511005231/en/

Audi Downtown Nashville Groundbreaking Ceremony May 6, 2022 (Photo: Business Wire)

Audi Downtown Nashville Groundbreaking Ceremony May 6, 2022 (Photo: Business Wire)

In 2020, Sonic Automotive conducted focus groups with Nashville residents to test the concept and location for Audi Downtown Nashville. The focus groups overwhelmingly liked the downtown location and felt the energy of SoBro, partnered with progressive and innovative digital tools, would bring a “tech-forward” Audi experience to downtown Nashville.

Audi Downtown Nashville will be an innovative space where guests can test-drive exciting new Audi models, build and customize their ideal Audi, and enjoy convenient Audi service from factory-trained technicians, bringing the future of automotive luxury directly to Nashville.

“Our Audi Nashville dealership has built a reputation for innovation, luxury, and exceptional customer care, and we are excited to expand that level of excellence into an exciting new destination at Audi Downtown Nashville,” said David Smith, CEO of Sonic Automotive. “This new location will be the first of the Audi of America brand to feature an evolutionary new way for consumers to shop, buy, and service their vehicles and experience our Audi Nashville team’s exceptional guest experience.”

As part of the seamless Digital Guest Experience at Audi Downtown Nashville, guests will be able to select any Audi model from either Nashville location for convenient pickup, empowering them with more technology, complete transparency, and the most convenient way to give their Audi the service it deserves.

“We are thrilled to partner with Audi of America on this new concept,” said Jeff Dyke, President of Sonic Automotive. “We’ve assembled a top-notch team to bring this innovative dealership model to life and are looking forward to providing guests in Nashville and surrounding areas with a unique way to shop for and service their vehicles.”

About Audi Downtown Nashville

Audi Downtown Nashville will be located at 15 Lindsley Avenue, Nashville, Tennessee. More information can be found at www.audinashville.com/downtown.htm.

About Audi Nashville

Audi Nashville is located at 1576 Mallory Lane, Brentwood, Tennessee. It is open Monday to Friday from 9:00 am to 7:30 pm, and Saturday from 9:00 am to 6:00 pm. The store can be reached at (888) 779-0034 or online at www.audinashville.com.

About Sonic Automotive

Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, North Carolina, is on a quest to become the most valuable automotive retailer and service brand in America. Our Company culture thrives on creating, innovating, and providing industry-leading guest experiences, driven by strategic investments in technology, teammates, and ideas that ultimately fulfill ownership dreams, enrich lives, and deliver happiness to our guests and teammates. As one of the largest automotive retailers in America, we are committed to delivering on this goal while pursuing expansive growth and taking progressive measures to be the leader in this category. Our new platforms, programs, and people are set to drive the next generation of automotive experiences. More information about Sonic Automotive can be found at www.sonicautomotive.com and ir.sonicautomotive.com.

Forward-Looking Statements

Included herein are forward-looking statements, including statements regarding the opening of future Audi dealerships. There are many factors that affect management’s views about future events and trends of the Company’s business. These factors involve risks and uncertainties that could cause actual results or trends to differ materially from management’s views, including, without limitation, economic conditions in the markets in which we operate, new and used vehicle industry sales volume, anticipated future growth in our EchoPark Segment, the success of our operational strategies, the rate and timing of overall economic expansion or contraction, the effect of the COVID-19 pandemic and related government-imposed restrictions on operations, and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and other reports and information filed with the Securities and Exchange Commission (the “SEC”). The Company does not undertake any obligation to update forward-looking information, except as required under federal securities laws and the rules and regulations of the SEC.


© Business Wire 2022
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Financials (USD)
Sales 2022 16 094 M - -
Net income 2022 427 M - -
Net Debt 2022 1 345 M - -
P/E ratio 2022 3,65x
Yield 2022 2,01%
Capitalization 1 514 M 1 514 M -
EV / Sales 2022 0,18x
EV / Sales 2023 0,16x
Nbr of Employees 10 200
Free-Float 25,0%
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Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 38,27 $
Average target price 62,29 $
Spread / Average Target 62,8%
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Managers and Directors
David Bruton Smith Vice President-Corporate Strategy
Jeff Dyke President & Director
Heath R. Byrd Chief Financial Officer & Executive Vice President
Thomas Keen Executive Vice President-Operations
William R. Brooks Chief Financial Officer, Treasurer & Secretary
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