Tranche Update on Sonic Automotive, Inc.'s Equity Buyback Plan announced on July 27, 2004.
October 26, 2023 at 04:01 pm EDT
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From July 1, 2023 to September 30, 2023, the company has repurchased 1,700,000 shares, representing 4.8% for $82.21 million. With this, the company has completed the repurchase of 35,774,439 shares, representing 80.13% for $1,044.44 million under the buyback announced on July 27, 2004.
Sonic Automotive, Inc. is an automotive retailer in the United States. The Company operates through three 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, finance and insurance (F&I) for its guests. The EchoPark segment sells used cars and light trucks and arranges third-party F&I product sales for its guests in pre-owned vehicle specialty retail locations. 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.
SONIC AUTOMOTIVE, INC. 
