Sonic Automotive Expands Leadership as Largest U.S. Jaguar Land Rover Retailer

Sonic Automotive Becomes the Largest Jaguar Land Rover Retailer in the U.S.

In a significant move that consolidates its leadership in the luxury automotive sector, Sonic Automotive has announced its new status as the largest retailer of Jaguar Land Rover in the United States. This achievement comes on the heels of recent acquisitions involving four prestigious dealerships located in California, namely Jaguar Land Rover Los Angeles, Newport Beach, San Jose, and Land Rover Pasadena.

Sonic Automotive, a Fortune 500 enterprise based in North Carolina, has strategically acquired these dealerships from US Auto Trust, marking an essential expansion within one of the most competitive luxury car markets in the country. The acquisition is expected to bring approximately $500 million in annual revenue to Sonic and expands their national presence to 177 automotive franchises.

David B. Smith, the Chairman and CEO of Sonic Automotive, expressed the company’s commitment to enhancing their footprint in this dynamic market, stating, "This acquisition marks a major step forward for Sonic Automotive as we deepen our footprint in one of the most dynamic luxury markets in the country. We're proud to welcome the new teams into the Sonic family and look forward to building on the foundation they've created. This acquisition reflects our long-term belief in the strength of their brands and the opportunity ahead in this segment."

Since its first foray into the Jaguar Land Rover market in 2019, Sonic has dedicated itself to providing an unparalleled customer experience in California, which is recognized for having some of the most demanding luxury clientele. The newly acquired dealerships are not only proven businesses but also represent robust entities within the luxury automotive landscape. Edward Glazer, the Founder of US Auto Trust, shared his confidence in Sonic Automotive's ability to elevate these dealerships, saying all assets are in capable hands.

Sonic Automotive's commitment to growth doesn't stop at luxury vehicles; it also operates EchoPark Automotive locations nationwide, which have recently been ranked as the number one choice for used car purchasing in the U.S. With this acquisition, Sonic enhances its offerings further, positioning itself as a formidable player in both the luxury and pre-owned automotive sectors.

The Future Looks Bright

As Sonic Automotive continues to broaden its footprint and enhance its capabilities, its strategy underscores an optimistic view of the luxury vehicle market's potential. By taking over distinguished dealerships and integrating them into their existing operations, Sonic is not only expanding its revenue base but also setting a new standard for customer service in the luxury automotive arena.

With a promise to innovate through technology and exceptional service, Sonic Automotive is poised for future growth and influence. The company is continuously adapting to market demands and customer expectations, ensuring that it remains at the forefront of the automotive retail industry.

This new milestone signifies Sonic Automotive’s determination to lead in the luxury vehicle segment, shaping customer experiences and setting benchmarks that align with the evolving automotive landscape. More information about Sonic Automotive's services, growth, and future plans can be accessed on their official website at sonicautomotive.com.

Conclusion

In summary, Sonic Automotive's significant acquisition signals a transformative phase for the company, emphasizing its ambition to dominate the luxury automotive market. As they integrate these new franchises into their operations, stakeholders and customers alike can anticipate an enhanced experience driven by innovation and quality service.

For further inquiries or details about investment opportunities with Sonic Automotive, interested parties are encouraged to contact their Investor Relations team via their official channels.