Sonic Automotive Continues EchoPark Expansion with New Location Opening in Johnson City, Tennessee

JOHNSON CITY, Tennessee–(BUSINESS WIRE)–Sonic Automotive, Inc. (“Sonic” or the “Company”) (NYSE: SAH), a Fortune 500 company and one of the nation’s largest automotive retailers, today announced the opening of its new EchoPark delivery center in the of the Tri-Cities of Tennessee, which includes Johnson City, Kingsport, Bristol, and surrounding communities in northeast Tennessee and southwest Virginia.

The Johnson City delivery center is EchoPark’s fourth location in Tennessee and follows the recent opening of its Chattanooga delivery center in the state. Other EchoPark locations in Tennessee are located in Nashville and Knoxville. The new delivery center marks EchoPark’s 36th location to date, continuing the brand’s expansion into a nationwide delivery network that is expected to reach 90% of the U.S. population and generate $14 billion in revenue by 2025 .

“With the opening of the new Johnson City EchoPark location, we are continuing our nationwide growth strategy by providing customers with an additional location to take delivery of their vehicles as well as trade in or sell their existing vehicles to us,” said David Smith, CEO. from Sonic Automotive and EchoPark Automotive. “We look forward to providing our customers in Johnson City and surrounding communities with a modern automotive retail experience with an exceptional selection of high-quality used vehicles.”

Customers can pick up delivery in person at the Johnson City location after shopping online at EchoPark.com and choosing from over 10,000 high-quality used vehicles, one to four years old, with clean CarFax reports, most of which are still under the original factory warranty. From the EchoPark website, customers can make an online purchase and schedule a convenient time for pickup at an EchoPark delivery center or retail center. Upon arrival, customers work with an EchoPark Experience Guide, who will help answer any questions and finalize all vehicle purchase details before speeding them home with their new purchase.

After its launch in 2014, EchoPark Automotive quickly became one of the biggest success stories in the used car retail industry. The company continues to expand its EchoPark footprint into new markets and plans to reach 90% population coverage by 2025, which will allow it to reach its intermediate goal of retailing 575,000 vehicles and generating 14 billion dollars in EchoPark annual revenue by 2025, while aiming for an annual sales opportunity of two million vehicles at maturity.

Find our new location

The EchoPark Johnson City Delivery Center is located at 2000 Franklin Terrace Court, Johnson City, Tennessee. It is open Monday to Friday from 10:00 a.m. to 7:00 p.m. and Saturday from 10:00 a.m. to 6:00 p.m. The store can be reached at (423) 491-4222 or online at www.echopark.com.

About EchoPark Automotive

EchoPark Automotive is one of the fastest growing and most comprehensive retailers of nearly new used vehicles in America today. Our plan for rapid growth is expected to bring our unique business model to 90% of the US population by 2025, using one of the most innovative technology-enabled sales strategies in our industry. Our approach provides a personalized and proven customer-centric buying process that consistently delivers award-winning customer experiences and superior value to car buyers nationwide, with savings of up to $3,000 over competetion. We believe EchoPark is on track to become the #1 retailer in the near-new used vehicle market by 2025, and is already making its mark by winning DealerRater’s 2021 Consumer Satisfaction Award, expanding its proprietary experience centers, developing an all-new digital e-commerce platform and focusing on growing its brand nationwide. EchoPark’s mission is in its name: every car deserves a happy owner. This boosts the car buying experience for customers and differentiates EchoPark from the competition. More information about EchoPark Automotive can be found at www.echopark.com.

About Sonic Automotive

Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, NC, is on a quest to become America’s most valuable automotive retailer and service brand. Our company culture thrives on creating, innovating and delivering cutting-edge customer experiences, driven by strategic investments in technology, teammates and ideas that ultimately make dreams come true. ownership, enrich lives and bring happiness to our customers and teammates. As one of America’s largest automotive retailers, we are committed to achieving this goal while pursuing expansive growth and taking incremental steps to be the leader in this category. Our new platforms, programs and people are ready to drive the next generation of automotive experiences. For more information on Sonic Automotive, visit www.sonicautomotive.com and ir.sonicautomotive.com.

Forward-looking statements

This document contains forward-looking statements, including statements regarding expected future U.S. population coverage for EchoPark, forecasts of future revenues and forecasts of future unit sales volumes. Many factors affect management’s view of future events and trends in the Company’s business. These factors involve risks and uncertainties that could cause actual results or trends to differ materially from management’s views, including, without limitation, economic conditions in the markets in which we operate, the volume of new and used vehicle industry sales, the anticipated future growth of our EchoPark segment, the success of our operating strategies, the rate and timing of overall economic expansion or contraction, the effect the COVID-19 pandemic and government-imposed restrictions on operations, and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and other reports and information filed with the Securities and Exchange Commission (the “SEC”). The Company undertakes no obligation to update any forward-looking information except as required under federal securities laws and the rules and regulations of the SEC.

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