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Dealership M&A activity reaching feverish pace in third quarter

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For all of 2021, dealership sales, group mergers, and acquisitions have been occurring at a pace that defies convention. These profit centers have the ability to continue generating for the foreseeable future, yet more dealership sales are being reported in recent weeks than ever before. Group 1 Automotive has acquired Capital City Honda in Sacramento, […]
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Sonic Automotive

Sonic Automotive Pres. Jeff Dyke discusses $700M acquisition of RFJ Auto...

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Sonic Automotive, one of the nation’s largest retailers, recently announced the acquisition of RFJ Auto Partners. RFJ Auto consists of 33 franchised and used...
Sonic Automotive

Sonic Automotive Buys 33-store RFJ Auto Partners in deal worth...

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North Carolina-based Sonic Automotive has confirmed a blockbuster deal, announcing the purchase of the RFJ Auto Partners group. The enormous transaction adds 33 storefronts to the Sonic Automotive group. When the deal closes, it’s expected to rocket Sonic Automotive into one of the top five US dealer groups according to total revenue. RFJ Auto currently […]
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Dyke

Sonic Automotive Pres. Jeff Dyke discusses all-time record for quarterly...

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 Sonic Automotive recently announced an all-time record quarterly revenue of $3.4 billion, that’s up 58.7% year-over-year. Plans for further expansion of EchoPark were also teased, so what does this mean for the seventh-largest dealership group in the U.S.? On today’s show, we’re pleased to welcome Jeff Dyke, President of Sonic Automotive. Dyke begins the […]
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Sonic Automotive

Sonic Automotive reports record first quarter revenues and earnings per share

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CHARLOTTE, N.C.-- Sonic Automotive, Inc. (“Sonic” or the “Company”) (NYSE:SAH), one of the nation’s largest automotive retailers, today reported financial results for the first quarter...

How Sonic Automotive and EchoPark plan to keep up their...

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Sonic Automotive is coming off a strong year in 2020 as it set records in sales and expanded its EchoPark used-car stores. Today, we speak with Sonic President Jeff Dyke on how the retailer plans to keep up the momentum moving into 2021. In the first months of 2020, Sonic Automotive got off to a […]
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David Smith

David Smith, Sonic Automotive CEO arrested in Charlotte on assault...

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David Smith, CEO of Sonic Automotive, was arrested and charged with assault and strangulation this week. Smith was arrested by the Charlotte-Mecklenburg Police Department after a woman claimed that Smith assaulted and unlawfully restrained her without her consent. Smith was released after he posted a $30,000 bond according to the Mecklenburg County sheriff’s office. CBT […]
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newscast

CBT automotive newscast: September 17, 2020

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Today’s Featured Interview: How AutoNation is promoting diverse and inclusive hiring practices - Rock Anderson Here at CBT, we strive to keep the conversation going on...
Sonic Automotive

Sonic Automotive’s EchoPark brand continues to grow despite industry setbacks...

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Sonic Automotive opened its newest preowned EchoPark brand store in Houston, Texas on Sept. 8, 2020, making it the eleventh retail store for the brand since launching in 2014. On today’s show, we are talking to Jeff Dyke, President of Sonic Automotive, about this latest expansion and what it means for Sonic Automotive as a […]
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CBT automotive newscast: September 15, 2020

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Today’s Featured Interview: Sonic Automotive's EchoPark brand continues to grow despite industry setbacks - Jeff Dyke Sonic Automotive opened its newest preowned EchoPark brand store in...