About Sonic Automotive

No stranger to speed, O. Bruton Smith has raced Sonic Automotive to the front of the pack of US auto dealers behind larger rivals, such as AutoNation and Penske Automotive. Founded with five dealerships in 1997, Sonic today owns about 120 new- and used-vehicle dealerships and about 25 collision repair centers in major markets in 15 states, including Texas, the Carolinas, Tennessee and Georgia. The company sells some 30 brands of cars and light trucks and offers vehicle financing. Chairman Smith, who runs Sonic Automotive with his son Scott, is also the majority owner of Speedway Motorsports, which operates more than half a dozen NASCAR auto racetracks.

Financial Analysis

Overall, the company's revenues in 2011 accounted for some $7.8 billion versus around $3.6 billion in 2010. Net income came in at $77.6 million in 2011 compared to $95.9 million in 2010, a 15% decrease. In 2011 the impact of earthquakes and the tsunami that struck Japan disrupted the company's Japanese supply chain and vehicle production. Sonic's new vehicle revenues and gross margins were impacted, thus affecting net income. Sonics' new vehicle sales generated around $4.3 million (about 55% of revenues) in revenues in 2011; used vehicle sales accounted for some $2 million (around 25% of revenues), and the company's parts, service and collision segment accounted for around $1.2 million (some 15% of revenues) in revenues.

Operations

In 2011 the company sold approximately 12.7 million new vehicles compared to 11.6 million vehicles sold in 2010, a year-over-year increase of some 10%. The company sells new vehicles, including luxury (BMW, Lexus, Land Rover, and Volvo), mid-line import (Honda, Nissan, and Toyota), and domestic brands (Chrysler, Ford, and General Motors). Its luxury brands generated some 50% of revenues in 2011; while the company's mid-line and domestic brands accounted for about 35% and 15%, respectively.

Strategy

As part of the company's strategic plans, Sonic is primarily focused in growing its operations in metropolitan markets in the Southeast, Southwest, Midwest, and the West (California). The company's long-term growth strategy is to target luxury or mid-line import brands.

Ownership

The Smiths control the company through their ownership of about 75% of Sonic Automotive's voting stock.

  • Welcome to the Sonic Family

Reviews

Overall

3.7
Based on 49 reviews
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Culture
Fun workplace with great management.
Honda Sales Associate, Vienna, VA - December 5, 2014
I enjoy the challenges I face in the car sales business and appreciate the different demographics of people there are.
Management is pretty good and I am able to place input into some situations where I think the store needs it.
Hardest part of the job is the hours I am needed beyond my schedule.
Overall it is a fun work environment with potential for good money!

Salaries

Jobs in Charlotte, NC

  • .Net/Data Warehouse Developer

    Charlotte, NC
    So read on, and consider a rewarding career with Sonic Automotive, Inc. At Sonic Automotive Corporate Office , you'll find the opportunities, resources, and...
  • OSOE GEC Agent

    Charlotte, NC
    J ob Summary - The Guest Experience Center Agent is responsible for delighting each and every guest by exceeding their expectations. The Guest Experience...
  • Call Center/Inside Sales (Guest Experience Agent)

    Charlotte, NC
    Giventhat Sonic Automotive, a Fortune 300 company, is offering a ground flooropportunity with explosive growth, this role can become a catalyst for yourfuture...
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Headquarters
4401 Colwick Rd.
Charlotte NC, United States 28212
Revenue
$5B to $10B (USD)
Employees
5,001 to 10,000
Industry
Links
Sonic Automotive website