{"id":439732,"date":"2021-02-19T06:58:13","date_gmt":"2021-02-19T11:58:13","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=439732"},"modified":"2021-02-19T06:58:13","modified_gmt":"2021-02-19T11:58:13","slug":"sonic-automotive-expands-echoparks-national-footprint-into-the-northeast-with-addition-of-used-car-king","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sonic-automotive-expands-echoparks-national-footprint-into-the-northeast-with-addition-of-used-car-king\/","title":{"rendered":"Sonic Automotive Expands EchoPark\u2019s National Footprint into the Northeast with Addition of Used Car King"},"content":{"rendered":"

<\/p>\n

Sonic Automotive Expands EchoPark\u2019s National Footprint into the Northeast with Addition of Used Car King<\/b><\/p>\n

SYRACUSE, N.Y.–(BUSINESS WIRE<\/a>)–Sonic Automotive, Inc.<\/a> (\u201cSonic\u201d or the \u201cCompany\u201d) (NYSE:SAH<\/a>), a Fortune 500 Company and one of the nation\u2019s largest automotive retailers, today announced the expansion of its specialty pre-owned vehicle brand with the addition of Used Car King to the EchoPark Automotive network.\n<\/p>\n

\nThese two Used Car King locations bring EchoPark\u2019s nationwide count of retail stores and delivery & buy centers to 18, following the recent openings of four new EchoPark locations during the fourth quarter of 2020. Furthermore, the addition of Used Car King expands EchoPark\u2019s geographic footprint into the northeastern United States, serving car buyers throughout New York State and beyond.\n<\/p>\n

\nEchoPark Automotive opened in 2014 with a distinct focus on enhancing the used car buying experience by making the process faster, easier and friendlier. It was a natural choice for Used Car King to join the EchoPark family as our brand values and interests are aligned in the way we approach the automotive business – we love cars and our guests are our #1 priority.\n<\/p>\n

\nTo our guests, this brand expansion is another example of our continued commitment to providing best in class cars at unbeatable prices, great quality and a guest experience second to none. Now part of a larger retail network, EchoPark Cortland and EchoPark Cicero will be able to offer guests a larger and more varied selection of vehicle brands and models.\n<\/p>\n

\n\u201cEchoPark\u2019s brand promise is centered around offering below-market pricing, high vehicle quality and an extraordinary guest experience,\u201d said Jeff Dyke, President of Sonic Automotive and EchoPark Automotive. \u201cWith thousands of delighted guests across all of our existing markets, we are excited to bring the same great EchoPark experience to new regions of the U.S. as we continue our rapid expansion.\u201d\n<\/p>\n

\n\u201cSince the day my father Joe Caputo opened Sun Auto Group in 1978, we’ve been providing value to our customers and there is no doubt in my mind that EchoPark Automotive is ahead of the curve,\u201d said Todd Caputo, Chief Executive Officer of Used Car King. \u201cWe couldn\u2019t be happier to have the Used Car King brand join the EchoPark family as we both share the same goal – to make our customers happy by offering them great cars at excellent prices. While you will see a new name and logo, you can anticipate the same great experience that you\u2019ve come to expect from Used Car King; that will remain unchanged. Thank you to all of our customers, and we look forward to a new relationship with EchoPark Automotive and continuing to meet your needs.\u201d\n<\/p>\n

\nAt the time of acquisition, all 38 Used Car King associates were retained and have become valued employees under the EchoPark brand. An additional 25 members of the local community have been hired and EchoPark is looking to fill another 12 positions immediately.\n<\/p>\n

\n\u201cWe anticipate additional hiring needs as the business matures into the second and third quarter of 2021 and beyond,\u201d noted Dan King, General Manager, EchoPark Automotive. \u201cThe EchoPark retail hub store in Cicero, New York, where pre-owned inventory is processed for reconditioning, will eventually serve markets throughout the Northeast as the footprint of our brand expands in the coming years, leading to additional hiring needs. EchoPark offers all of the wonderful benefits one would expect from a rapidly expanding Fortune 500 company, providing competitive wages and undeniable opportunity for advancement. It\u2019s an exciting time to be in the retail automotive arena.\u201d\n<\/p>\n

\nSince inception, the EchoPark brand has been one of the biggest success stories in pre-owned automotive retail. The Company plans to expand its EchoPark footprint to a 140-point nationwide distribution network by 2025, which is expected to retail 575,000 vehicles annually and generate $14 billion in EchoPark revenues by that time.\n<\/p>\n

\nEchoPark Cicero is located at 8010 Brewerton Rd. Cicero, NY 13039, and can be reached by phone at 315-698-6808 or online at www.echopark.com<\/a>.\n<\/p>\n

\nEchoPark Cortland is located at 3861 West Rd. Cortland, NY 13045, and can be reached by phone at 315-907-4170 or online at www.echopark.com<\/a>.\n<\/p>\n

About EchoPark Automotive<\/span><\/b><\/p>\n

\nEchoPark Automotive is a growing operating segment within the Company that specializes in pre-owned vehicle sales and provides a unique guest experience unlike traditional used car stores. More information about EchoPark Automotive can be found at www.echopark.com<\/a>.\n<\/p>\n

About Sonic Automotive<\/span><\/b><\/p>\n

\nSonic Automotive, Inc., a Fortune 500 company based in Charlotte, North Carolina, is one of the nation\u2019s largest automotive retailers. Sonic can be reached on the web at www.sonicautomotive.com<\/a>.\n<\/p>\n

Forward-Looking Statements<\/span><\/b><\/p>\n

\nIncluded herein are forward-looking statements, including statements regarding anticipated future revenue levels, future profitability, projected SG&A expense levels, pre-owned vehicle sales projections and the opening of additional EchoPark points. There are many factors that affect management\u2019s views about future events and trends of the Company\u2019s business. These factors involve risks and uncertainties that could cause actual results or trends to differ materially from management\u2019s 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\u2019s Annual Report on Form 10-K for the year ended December 31, 2019, the Company\u2019s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, the Company\u2019s Current Report on Form 8-K filed on February 12, 2021 and other reports and information filed with the Securities and Exchange Commission (the \u201cSEC\u201d). 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.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210219005043\/en\/<\/a><\/span><\/p>\n

Investor Inquiries:
\n<\/b>
Heath Byrd, Executive Vice President and Chief Financial Officer (704) 566-2400
\n
Danny Wieland, Investor Relations (704) 927-3462
\n
ir@sonicautomotive.com<\/a><\/p>\n

Press Inquiries:
\n<\/b>
Danielle DeVoren \/ Anthony Feldman
\n
212-896-1272 \/ 347-487-6194
\n
ddevoren@kcsa.com<\/a>\/afeldman@kcsa.com<\/a><\/p>\n

KEYWORDS:<\/b> North Carolina New York United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Aftermarket Retail Automotive Other Automotive Other Retail General Automotive Specialty<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
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Sonic Automotive Expands EchoPark\u2019s National Footprint into the Northeast with Addition of Used Car King SYRACUSE, N.Y.–(BUSINESS WIRE)–Sonic Automotive, Inc. (\u201cSonic\u201d or the \u201cCompany\u201d) (NYSE:SAH), a Fortune 500 Company and one of the nation\u2019s largest automotive retailers, today announced the expansion of its specialty pre-owned vehicle brand with the addition of Used Car King to the EchoPark Automotive network. These two Used Car King locations bring EchoPark\u2019s nationwide count of retail stores and delivery & buy centers to 18, following the recent openings of four new EchoPark locations during the fourth quarter of 2020. Furthermore, the addition of Used Car King expands EchoPark\u2019s geographic footprint into the northeastern United States, serving car buyers throughout New York State and beyond. EchoPark … <\/p>\n

Continue reading “Sonic Automotive Expands EchoPark\u2019s National Footprint into the Northeast with Addition of Used Car King”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-439732","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSonic Automotive Expands EchoPark\u2019s National Footprint into the Northeast with Addition of Used Car King - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sonic-automotive-expands-echoparks-national-footprint-into-the-northeast-with-addition-of-used-car-king\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sonic Automotive Expands EchoPark\u2019s National Footprint into the Northeast with Addition of Used Car King - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Sonic Automotive Expands EchoPark\u2019s National Footprint into the Northeast with Addition of Used Car King SYRACUSE, N.Y.–(BUSINESS WIRE)–Sonic Automotive, Inc. (\u201cSonic\u201d or the \u201cCompany\u201d) (NYSE:SAH), a Fortune 500 Company and one of the nation\u2019s largest automotive retailers, today announced the expansion of its specialty pre-owned vehicle brand with the addition of Used Car King to the EchoPark Automotive network. These two Used Car King locations bring EchoPark\u2019s nationwide count of retail stores and delivery & buy centers to 18, following the recent openings of four new EchoPark locations during the fourth quarter of 2020. Furthermore, the addition of Used Car King expands EchoPark\u2019s geographic footprint into the northeastern United States, serving car buyers throughout New York State and beyond. 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(\u201cSonic\u201d or the \u201cCompany\u201d) (NYSE:SAH), a Fortune 500 Company and one of the nation\u2019s largest automotive retailers, today announced the expansion of its specialty pre-owned vehicle brand with the addition of Used Car King to the EchoPark Automotive network. These two Used Car King locations bring EchoPark\u2019s nationwide count of retail stores and delivery & buy centers to 18, following the recent openings of four new EchoPark locations during the fourth quarter of 2020. Furthermore, the addition of Used Car King expands EchoPark\u2019s geographic footprint into the northeastern United States, serving car buyers throughout New York State and beyond. 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