Corporate Profile

Sonic Automotive, Inc., a Fortune 300 company and member of the Russell 2000 Index, is among the largest automotive retailers in the United States. Sonic Automotive's most recent press release contains the latest count of dealership franchises and collision repair centers. These dealerships provide comprehensive services, including sales of both new and used cars and light trucks, sales of replacement parts, performance of vehicle maintenance, warranty, paint and collision repair services, and arrangement of extended warranty contracts, financing and insurance for the company's customers.

7/29/10 Sonic Automotive, Inc. Second Quarter Results and Conference Call

Sonic Automotive, Inc. Reports 21% Vehicle Revenue Growth; Adjusted Continuing Ops Profit Up 41% Over Prior Year Quarter

CHARLOTTE, N.C., July 29, 2010 /PRNewswire via COMTEX/ -- Sonic Automotive, Inc. (NYSE: SAH), the nation's third-largest automotive retailer, today reported that 2010 second quarter adjusted earnings from continuing operations were $15.6 million, up 41% from adjusted earnings from continuing operations in the same prior year period. On a per share basis, the Company earned an adjusted $0.27 per diluted share from continuing operations, compared to an adjusted $0.23 per diluted share from continuing operations in the same prior year quarter. The adjustments, which are related primarily to debt refinancing activities and mark-to-market adjustments on interest rate swaps, are detailed further in the attached tables. During the second quarter, the Company completed the retirement of $200 million of our 8.625% senior subordinated notes using proceeds from a debt offering that was completed in March 2010.

Business Overview - Revenue Growth In Every Business Line Over Q2 of Last Year

Commenting on the quarter, B. Scott Smith, the Company's President, said, "We are pleased with the growth in both revenues and profits over the second quarter of last year. Our new vehicle business is up both sequentially and over the same period last year as we continue to see economic stabilization in certain segments of our geographic footprint. The growth in our used vehicle business continues to drive incremental revenue in our fixed operations and F&I departments. Our strategy for some time has been focused on standardizing our operating procedures through the rollout of our operational playbooks. Results this quarter demonstrate one of the primary benefits of our operational playbooks - they create growth opportunities not just in their specific area of the business but across all of our business lines."

New and Used Vehicles - Revenue Increases 19% and 23%, Respectively

New vehicle retail revenue increased 19% and used vehicle retail revenue increased 23% for the second quarter of 2010 compared to the same quarter last year. Jeff Dyke, the Company's EVP of Operations, stated, "We are pleased with our new vehicle growth, particularly given that our volume declines in 2009 were not as severe as what the overall industry experienced due to our favorable brand and geographic mix. Our dealerships continue to take market share and outperform the competition in their local markets. We are excited to announce that our New Car Playbook will be introduced to our stores later this year. We expect it to provide us many of the same successes that we have already received from our proven Used Vehicle Playbook. We also continue to be very pleased with our used vehicle volume growth especially when we consider the 20% growth comes on top of 12% growth in 2009. We continue to show that the used car business has tremendous upside potential as the second quarter was our largest used vehicle volume and gross profit quarter in our Company's history."

Service, Parts & Body Shop - Revenue and Gross Profit Both Increase

Sonic's Service, Parts & Body Shop revenue for the second quarter was up approximately 5% compared to the prior year quarter, while gross profit dollars were up over 3%. Mr. Dyke stated, "Our operational strategies in parts and service are specifically designed to increase the non-warranty pieces of our business to respond to improved vehicle quality, fewer units in operation and changing warranty programs. We have seen consistent growth in both our customer pay business and in the revenues we earn for reconditioning work done on pre-owned vehicles."

Presentation materials for the Company's July 29, 2010 earnings conference call at 11:00 A.M. (Eastern) can be accessed on the Company's website at http://www.sonicautomotive.com/ by clicking on the "For Investors" tab and choosing "Webcasts & Presentations" on the right side of the monitor.

To access the live broadcast of the call over the Internet go to: http://www.ccbn.com/ or http://www.sonicautomotive.com/

A live audio of the call will be accessible to the public by calling (877) 791-3416. International callers dial (706) 643-0958. Callers should dial in approximately 10 minutes before the call begins.

A conference call replay will be available one hour following the call for seven days and can be accessed by calling: 800-642-1687, International callers dial (706) 645-9291 Conference ID: 86991682

About Sonic Automotive

Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, N.C., is the nation's third-largest automotive retailer, operating 140 franchises. Sonic can be reached on the web at http://www.sonicautomotive.com/.

Included herein are forward-looking statements, including statements with respect to economic stabilization and business improvement, future success and impacts from the implementation of our various operational playbooks, future cash flow generation, growth opportunities and future debt retirement. There are many factors that affect management's views about future events and trends of the Company's business. These factors involve risk and uncertainties that could cause actual results or trends to differ materially from management's view, including without limitation, economic conditions in the markets in which we operate, new and used vehicle sales volume, the success of our operational strategies, the rate and timing of overall economic recovery or further decline and the risk factors described in the Company's annual report on Form 10-K for the year ending December 31, 2009 and the quarterly report on Form 10-Q for the quarter ending March 31, 2010. The Company does not undertake any obligation to update forward-looking information.
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7/9/10

Sonic Automotive, Inc. Schedules Release of Second Quarter Results and Conference Call

CHARLOTTE, N.C., July 9, 2010 /PRNewswire via COMTEX/ --

Sonic Automotive, Inc. (NYSE: SAH) today announced it will release fiscal 2010 second quarter financial results on Thursday, July 29, 2010 at 7:30 A.M. (Eastern). Senior management will hold a conference call on July 29, 2010 at 11:00 A.M. (Eastern).

To access the live broadcast of the conference call over the Internet go to: www.sonicautomotive.com

A live audio of the conference call will be accessible to the public by calling (877) 791-3416. International callers dial (706) 643-0958. Callers should dial in approximately 10 minutes before the call begins.

A conference call replay will be available one hour following the call for seven days and can be accessed by calling: (800) 642-1687 (domestic) or (706) 645-9291 (international), conference call ID #86991682

About Sonic Automotive

Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, N.C., is the nation's third-largest automotive retailer, operating 142 franchises. Sonic can be reached on the web at www.sonicautomotive.com.

SOURCE Sonic Automotive, Inc.
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5/19/10

Sonic Automotive Executives to Speak at Investor Conference

CHARLOTTE, N.C., May 19, 2010 /PRNewswire via COMTEX/ --Sonic Automotive, Inc. (NYSE: SAH), a leader in automotive retailing, announced that Company executives will present at the Stephens Inc. Spring Investment Conference. The presentation will cover Sonic's operating strategy and financial results.

The Company's presentation will be at 11:00 AM Eastern on May 25, 2010 at the New York Palace hotel. A webcast of the presentation will be available at http://www.wsw.com/webcast/stph14/sah/

Presentation slides will be available at www.sonicautomotive.com by clicking on the For Investors tab and choosing Webcasts & Presentations.

About Sonic Automotive

Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, N.C., is one of the largest automotive retailers in the United States operating 145 franchises. Sonic can be reached on the Web at www.sonicautomotive.com.

SOURCE Sonic Automotive, Inc.
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4/27/10

Sonic Automotive, Inc. Reports 13% Overall Revenue Growth Used Vehicle Revenue up 28% First Quarter Profits Up Over Prior Year

CHARLOTTE, N.C., April 27, 2010 /PRNewswire via COMTEX/ --Sonic Automotive, Inc. (NYSE: SAH), the nation's third-largest automotive retailer, today reported that 2010 first quarter adjusted earnings from continuing operations were $0.14 per diluted share, up 40% from adjusted earnings from continuing operations of $0.10 per diluted share in the prior year quarter. The adjustments, which are related primarily to debt refinancing activities and mark-to-market adjustments on interest rate swaps, are detailed further in the attached tables. During the quarter, the Company further strengthened its balance sheet by issuing $200 million of senior subordinated notes to refinance a portion of its existing senior subordinated notes. This refinancing resulted in the Company incurring interest expense on both notes for a period of time prior to the existing notes being retired in early April.

Business Overview - Operating Initiatives Continue to Drive Revenue Growth

Commenting on the quarter B. Scott Smith, the Company's President, said, "We are very pleased with the way our operating initiatives continued to take hold this quarter. Our focus on associate satisfaction has led to all time low associate turnover which is resulting in better execution of our Playbook process. Commenting further, "We saw strong revenue growth in all departments which continues to demonstrate that our strategy is delivering sound performance as the automotive market continues to improve."

New and Used Vehicles - Revenue and Gross Profit Levels Up Dramatically

Overall new vehicle retail volume was up 10% and used vehicle retail volume was up 25% for the first quarter of 2010 compared to the same quarter last year. Jeff Dyke, the Company's EVP of Operations, stated, "The retail gross profit generated by our used vehicle department alone was up over 8% in the first quarter of 2010 compared to the same period last year. Our used vehicle business continues to exceed our expectations as our stores realize the power of our operational playbooks. Consistent with the expectation we communicated last quarter, our used vehicle margins have contracted somewhat compared to the first quarter of last year as a result of the significant volume growth. Sequentially, our used vehicle margins are in line with the last several quarters. It's important to remember as we continue to expand our penetration of the used vehicle market that our volume growth generates incremental gross profit dollars in used, F&I, and parts and service."

Parts and Service - Steady Growth in a Key Department; Gross margin up 70 basis points

Sonic's parts and service revenue for the first quarter was up approximately 3% compared to the prior year quarter, while gross margin was up 70 basis points at 50.3%. Mr. Dyke stated, "Our parts and service business benefited from the improvement in the general economic environment, the work associated with the various manufacturer recalls during the period, and our continued rollout of our playbook for this area. We are still in the early stages of our operational plan for our fixed operations departments and expect to see continued revenue and margin growth over the course of the year."

Business Outlook

Scott Smith concluded his comments by noting, "The quarter got off to a slow start as our stores came out of a very strong December and as we continued investing in our associates, but profitability improved dramatically as we progressed through the quarter. I have said from the beginning that this is a people business and we will continue to invest appropriately in the one asset that will drive our future growth. We are on track to meet our profit targets for the year."

Presentation materials for the Company's April 27, 2010 earnings conference call at 11:00 A.M. (Eastern) can be accessed on the Company's website at www.sonicautomotive.com by clicking on the "For Investors" tab and choosing "Webcasts & Presentations" on the right side of the monitor.

To access the live broadcast of the call over the Internet go to: www.sonicautomotive.com

A live audio of the call will be accessible to the public by calling (877) 791-3416. International callers dial (706) 643-0958. Callers should dial in approximately 10 minutes before the call begins.

A conference call replay will be available one hour following the call for seven days and can be accessed by calling: 800-642-1687, International callers dial (706) 645-9291 Conference ID: 68235076

About Sonic Automotive

Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, N.C., is the nation's third-largest automotive retailer, operating 145 franchises. Sonic can be reached on the web at www.sonicautomotive.com.

Included herein are forward-looking statements, including statements with respect to fixed operations revenue and gross profit growth, future profitability levels and general operating performance. There are many factors that affect management's views about future events and trends of the Company's business. These factors involve risk and uncertainties that could cause actual results or trends to differ materially from management's view, including without limitation, economic conditions, risks associated with acquisitions and the risk factors described in the Company's annual report on Form 10-K for the year ending December 31, 2009. The Company does not undertake any obligation to update forward-looking information.



    Sonic Automotive, Inc.
    Results of Operations (Unaudited)
    (in thousands, except per share, unit data and percentage amounts)

                                                Three Months Ended
                                         As                           As
                                      Reported                     Adjusted
                                     3/31/2010     Adjustments    3/31/2010
                                     ---------     -----------    ---------
    Revenues
    --------
      New retail vehicles                 $740,590      $-   $740,590
      -------------------                 --------     ---   --------
      Fleet vehicles                        43,652       -     43,652
      --------------                        ------     ---     ------
        Total new vehicles                 784,242       -    784,242
        ------------------                 -------     ---    -------
      Used vehicles                        423,610       -    423,610
      -------------                        -------     ---    -------
      Wholesale vehicles                    31,384       -     31,384
      ------------------                    ------     ---     ------
                           Total
                           vehicles      1,239,236       -  1,239,236
                           ---------     ---------     ---  ---------
      Parts, service and collision
       repair                              279,370       -    279,370
      ----------------------------         -------     ---    -------
      Finance, insurance and other          40,959       -     40,959
      ----------------------------          ------     ---     ------
                           Total
                           revenues      1,559,565       -  1,559,565
                           ---------     ---------     ---  ---------
    Total gross profit                     268,691       -    268,691
    ------------------                     -------     ---    -------
    SG&A expenses                         (224,310)      -   (224,310)
    -------------                         --------     ---   --------
    Impairment charges                         (44)     44          -
                                                       ---
    Depreciation                            (8,501)      -     (8,501)
    ------------                            ------     ---     ------
    Operating income                        35,836      44     35,880
    ----------------                        ------     ---     ------
    Interest expense, floor plan            (4,942)      -     (4,942)
    ----------------------------            ------     ---     ------
    Interest expense, other                (17,189)  1,004    (16,185)
    -----------------------                -------   -----    -------
    Interest expense, non-cash,
     convertible debt                       (1,677)      -     (1,677)
    ---------------------------             ------     ---     ------
    Interest expense, non-cash,
     cash flow swaps                        (1,683)  1,683          -
                                                     -----
    Other (expense) / income                    62       -         62
    ------------------------                   ---     ---        ---
    Income /(loss) from
     continuing operations
     before taxes                           10,407   2,731     13,138
    Income tax (expense) /
     benefit                                (4,475) (1,174)    (5,649)
    ----------------------                  ------  ------     ------
    Income /(loss) from
     continuing operations                   5,932   1,557      7,489
    Income /(Loss) from
     discontinued operations                (1,778)      -     (1,778)
    ------------------------                ------     ---     ------
    Net income                              $4,154  $1,557     $5,711
    ----------                              ------  ------     ------

    Diluted:
    --------
      Weighted average common
       shares outstanding                   52,579       -     52,579
      -----------------------               ------     ---     ------


      Earnings /(loss) per share
       from continuing operations            $0.11   $0.03      $0.14
      ---------------------------            -----   -----      -----
      Earnings /(loss) per share
       from discontinued
       operations                            (0.03)      -      (0.03)
      --------------------------             -----     ---      -----
      Earnings /(loss) per share             $0.08   $0.03      $0.11
      --------------------------             -----   -----      -----


    Gross Margin Data
     (Continuing Operations):
    -------------------------


      Retail new vehicles                      7.1%               7.1%
      -------------------                      ---                ---
      Fleet vehicles                           3.7%               3.7%
      --------------                           ---                ---
          Total new vehicles                   7.0%               7.0%
          ------------------                   ---                ---
      Used vehicles retail                     7.9%               7.9%
      --------------------                     ---                ---
                           Total
                           vehicles
                           retail              7.3%               7.3%
                           ---------           ---                ---
      Wholesale vehicles                     (2.2%)             (2.2%)
    ------------------                      ------             ------
      Parts, service and collision
       repair                                 50.3%              50.3%
      ----------------------------            ----               ----
      Finance, insurance and other           100.0%             100.0%
      ----------------------------           -----              -----
                           Overall
                           gross
                           margin             17.2%              17.2%
                           --------           ----               ----


    SG&A Expenses (Continuing
     Operations):
    -------------------------


      Personnel                           $132,542      $-   $132,542
      ---------                           --------     ---   --------
      Advertising                           11,437       -     11,437
      -----------                           ------     ---     ------
      Facility rent                         35,833       -     35,833
      -------------                         ------     ---     ------
      Other                                 44,498       -     44,498
      -----                                 ------     ---     ------
        Total                             $224,310      $-   $224,310
        -----                             --------     ---   --------


    SG&A Expenses as % of Gross
     Profit                                   83.5%    0.0%      83.5%
    ---------------------------               ----     ---       ----


    Operating Margin %                       2.3%    0.0%       2.3%
    ------------------                         ---     ---        ---


    Unit Data (Continuing
     Operations):
    ---------------------


      New retail units                      21,484
      ----------------                      ------
      Fleet units                            1,750
      -----------                            -----
      New units                             23,234
      ---------                             ------
      Used units                            21,750
      ----------                            ------
                           Total
                           units
                           retailed         44,984
                           ---------        ------
      Wholesale units                        5,200
    ---------------                          -----


    Other Data:
    -----------


      Same store revenue
       percentage changes:
      --------------------
                           New
                           retail             13.8%
                          -------             ----
                          Fleet             (19.4%)
                          -----            -------
                            Total
                             New
                             Vehicles         11.3%
                            ---------         ----
                          Used                28.7%
                          ----                ----
                           Parts,
                           service
                           and
                           collision
                           repair          2.8%
                           ----------          ---
                           Finance,
                           insurance
                           and
                           other              17.4%
                           ---------          ----
                            Total             13.2%
                            -----             ----



    Description of Adjustments:               2010               2009
                                              ----               ----
      Continuing Operations:
                           Impairment
                           charges             $44                $57
                           Debt
                           restructuring       295              2,047
                           Cash
                           flow
                           swaps             1,683             (2,429)
                           Double-
                           carry
                           interest            709                  -
                           Total
                           pretax           $2,731              $(325)
                           Tax
                           effect           (1,174)               146
                          Total             $1,557              $(179)



      Discontinued Operations:
                           Impairment
                           charges              $-             $1,528
                           Tax
                           effect                -               (432)
                          Total                 $-             $1,096
                          -----                ---             ------






                                                   Three Months Ended
                                            As                           As
                                         Reported                     Adjusted
                                         3/31/2009    Adjustments    3/31/2009
                                        ---------     -----------    ---------

        New retail vehicles                   $650,554        $-   $650,554
        -------------------                   --------       ---   --------
        Fleet vehicles                          54,163         -     54,163
        --------------                          ------       ---     ------
          Total new vehicles                   704,717         -    704,717
          ------------------                   -------       ---    -------
        Used vehicles                          329,209         -    329,209
        -------------                          -------       ---    -------
        Wholesale vehicles                      37,796         -     37,796
        ------------------                      ------       ---     ------
                                 Total
                                 vehicles     1,071,722         -  1,071,722
                                ---------     ---------       ---  ---------
         Parts, service and collision
         repair                                271,641         -    271,641
        -----------------------------          -------       ---    -------
        Finance, insurance and other            35,135         -     35,135
        ----------------------------            ------       ---     ------
                                 Total
                                 revenues     1,378,498         -  1,378,498
                                ---------     ---------       ---  ---------
    Total gross profit                          247,467         -    247,467
    ------------------                          -------       ---    -------
    SG&A expenses                             (205,920)      (382) (206,302)
    -------------                              --------      ----   --------
    Impairment charges                              (57)       57          -
                                                              ---
    Depreciation                                 (7,625)        -     (7,625)
    ------------                                 ------       ---     ------
    Operating income                             33,865      (325)    33,540
    ----------------                             ------      ----     ------
    Interest expense, floor plan                 (5,198)        -     (5,198)
    ----------------------------                 ------       ---     ------
    Interest expense, other                     (18,252)        -    (18,252)
    -----------------------                     -------       ---    -------
    Interest expense, non-cash,
     convertible debt                            (2,619)        -     (2,619)
    ---------------------------                  ------       ---     ------
    Interest expense, non-cash,
     cash flow swaps                                  -         -          -
                                                              ---
    Other (expense) / income                         50         -         50
    ------------------------                        ---       ---        ---
    Income /(loss) from continuing
     operations before taxes                      7,846      (325)     7,521
    Income tax (expense) / benefit               (3,531)      146     (3,385)
    ------------------------------               ------       ---     ------
    Income /(loss) from continuing
     operations                                   4,315      (179)     4,136
    Income /(Loss) from
     discontinued operations                     (2,637)    1,096     (1,541)
    ------------------------                     ------     -----     ------
    Net income                                   $1,678      $917     $2,595
    ----------                                   ------      ----     ------

    Diluted:
    --------
         Weighted average common
         shares outstanding                     40,338         -     40,338
        ------------------------                ------       ---     ------


         Earnings /(loss) per share
         from continuing operations              $0.11    $(0.01)     $0.10
        ---------------------------              -----    ------      -----
         Earnings /(loss) per share
         from discontinued operations            (0.07)     0.03      (0.04)
        -----------------------------            -----      ----      -----
        Earnings / (loss) per share              $0.04     $0.02      $0.06
        ---------------------------              -----     -----      -----


    Gross Margin Data (Continuing
     Operations):
    -----------------------------


        Retail new vehicles                        6.8%                 6.8%
        -------------------                        ---                  ---
        Fleet vehicles                             4.3%                 4.3%
        --------------                             ---                  ---
            Total new vehicles                      6.6%                 6.6%
            ------------------                      ---                  ---
        Used vehicles retail                       9.4%                 9.4%
        --------------------                       ---                  ---
                                 Total
                                 vehicles
                                 retail             7.5%                 7.5%
                                ---------           ---                  ---
        Wholesale vehicles                       (0.2%)               (0.2%)
        ------------------                      ------               ------
         Parts, service and collision
         repair                                   49.6%                49.6%
        -----------------------------             ----                 ----
        Finance, insurance and other             100.0%               100.0%
        ----------------------------             -----                -----
                                 Overall
                                 gross
                                 margin            18.0%                18.0%
                                --------           ----                 ----


    SG&A Expenses (Continuing
     Operations):
    -------------------------


        Personnel                             $116,080        $-   $116,080
        ---------                             --------       ---   --------
        Advertising                             11,052         -     11,052
        -----------                             ------       ---     ------
        Facility rent                           35,307         -     35,307
        -------------                           ------       ---     ------
        Other                                   43,481       382     43,863
        -----                                   ------       ---     ------
          Total                               $205,920      $382   $206,302
          -----                               --------      ----   --------


    SG&A Expenses as % of Gross
     Profit                                        83.2%      0.2%      83.4%
    ---------------------------                    ----       ---       ----


    Operating Margin %                           2.5%    (0.1%)       2.4%
    ------------------                              ---    ------        ---


    Unit Data (Continuing
     Operations):
    ---------------------


        New retail units                        19,498
        ----------------                        ------
        Fleet units                              2,255
        -----------                              -----
        New units                               21,753
        ---------                               ------
        Used units                              17,411
        ----------                              ------
                                 Total units
                                 retailed        39,164
                                 ------------    ------
        Wholesale units                          6,532
        ---------------                          -----


    Other Data:
    -----------


         Same store revenue percentage
         changes:
         ------------------------------
                                New retail       (33.4%)
                                ----------      -------
                                Fleet            (48.1%)
                                -----           -------
                                  Total New
                                   Vehicles      (34.8%)
                                  ---------     -------
                                Used              (8.3%)
                                ----             ------
          Parts,
          service
          and
          collision
          repair             (4.3%)
                                ----------       ------
                                 Finance,
                                 insurance
                                 and other       (29.8%)
                                ---------       -------
                                  Total          (25.7%)
                                  -----         -------
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News and Events

7/29/10 Sonic Automotive, Inc. Second Quarter Results and Conference Call
Sonic Automotive, Inc. Reports 21% Vehicle Revenue Growth; Adjusted Continuing Ops Profit Up 41% Over ...
7/9/10
Sonic Automotive, Inc. Schedules Release of Second Quarter Results and Conference Call CHARLOTTE, N.C., ...
5/19/10
Sonic Automotive Executives to Speak at Investor Conference CHARLOTTE, N.C., May 19, 2010 /PRNewswire ...
4/27/10
Sonic Automotive, Inc. Reports 13% Overall Revenue Growth Used Vehicle Revenue up 28% First Quarter ...