EchoPark’s 40th location to date offers guests in the surrounding area a modern ecommerce automotive buying experience
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 continued expansion of the EchoPark Automotive brand with the opening of its newest Delivery Center in Tulsa, the second largest city in Oklahoma.
The Tulsa Delivery Center is EchoPark’s first location in the state of Oklahoma, and 40th location to date. It follows the recent openings of its new retail hub in St. Louis, Missouri and delivery center in Columbus, Georgia. Oklahoma expands EchoPark into 21 states and continues the brand’s expansion toward a nationwide distribution network that is expected to reach 90 percent of the U.S. population by 2025.
“We are pleased to announce the expansion of EchoPark into Oklahoma,” said David Smith, CEO of Sonic Automotive. “Our teammates are excited to provide residents in Tulsa and the surrounding area with a wide selection of high quality pre-owned vehicles supported by our world-class guest experience which delivers on our brand promise of ‘Every Car, Happy Owner.’ It’s not just a tagline, our mission is in our name and it’s what we do.”
Delivery Centers and Retail Hubs are part of EchoPark’s exclusive model that caters to the growing number of consumers who want to start their pre-owned automotive shopping experience online, but complete their purchase in-person at a dealership. The brand’s new exclusive website allows for any car to be sold to anyone, anywhere, while expansion of new locations allows EchoPark to be a trusted source for consumers to take delivery in their neighborhood.
Regardless of location, EchoPark’s success has come from its award-winning guest experience that is grounded in the mission of creating Happy Owners. This effort has generated over 50,000 5-Star ratings and reviews, with EchoPark earning the highest consumer review ratings and receiving the highest in consumer sentiment within the categories of Pricing and Customer Service and Sales amongst all major competitors within the segment.
Find Our Newest Location
EchoPark Tulsa is located at 4640 S. Memorial Drive, Tulsa, Oklahoma. It is open Monday through Friday from 10 a.m. to 7 p.m., and Saturday from 10 a.m. to 6 p.m. The store can be reached at (539) 202-6663 or online at www.echopark.com.
About EchoPark Automotive
EchoPark Automotive is one of the fastest growing and most comprehensive retailers of nearly new pre-owned vehicles in America today. Our rapid growth plan is expected to bring our unique business model to 90% of the U.S. population by 2025, utilizing one of the most innovative technology-enabled sales strategies in our industry. Our approach provides a personalized and proven guest-centric buying process that consistently delivers award-winning guest experiences and superior value to car buyers nationwide, with savings of up to $3,000 versus the competition. Consumers have responded by putting EchoPark at number one in products, sales, and service based on Google Reviews between April 2021 through April 2022, while receiving the 2021 Consumer Satisfaction Award from DealerRater. EchoPark’s nationwide growth will continue to leverage the unique and preferred Experience Centers in-market with a best-in-class shopping and online buying tool. EchoPark’s mission is in the name: Every Car, Happy Owner. This drives the experience for guests 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, North Carolina, is on a quest to become the most valuable automotive retailer and service brand in America. Our Company culture thrives on creating, innovating, and providing industry-leading guest experiences, driven by strategic investments in technology, teammates, and ideas that ultimately fulfill ownership dreams, enrich lives, and deliver happiness to our guests and teammates. As one of the largest automotive retailers in America, we are committed to delivering on this goal while pursuing expansive growth and taking progressive measures to be the leader in this category. Our new platforms, programs, and people are set to drive the next generation of automotive experiences. More information about Sonic Automotive can be found at www.sonicautomotive.com and ir.sonicautomotive.com.
Included herein are forward-looking statements, including statements regarding anticipated future U.S. population coverage for EchoPark. There are many factors that affect management’s views about future events and trends of 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, 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’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 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.
Heath Byrd, Executive Vice President and Chief Financial Officer 704-566-2400
Danny Wieland, Vice President, Investor Relations 704-927-3462