Sonic Automotive Acquires Audi Owings Mills in Maryland, Continuing the Expansion of its Franchised Dealership Network

·3 min read

This transaction marks Sonic’s 8th Audi franchise and 112th franchised dealership overall

CHARLOTTE, N.C., August 17, 2022--(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 it has acquired Audi Owings Mills. This transaction marks Sonic’s 8th Audi franchise and 112th franchised dealership overall.

Located in Owings Mills, Maryland, the dealership serves residents of the greater Baltimore area and surrounding regions with a wide selection of new and pre-owned Audi vehicles and manufacturer-authorized parts and service.

"With the acquisition of Audi Owings Mills coming on the heels of our acquisition of Volkswagen of Fallston last year, we look forward to continuing to serve guests in the Baltimore metropolitan market and beyond with our world class guest experience, quality vehicles, and competitive pricing," said David Smith, CEO of Sonic Automotive.

"We are excited to once again expand our national franchise sales and service network," said Jeff Dyke, President of Sonic Automotive. "The acquisition of Audi Owings Mills allows us to continue delivering on the Audi brand promise and provide our guests with even more choices in the Maryland market."

Find Our Newest Location

Audi Owings Mills is located at 9804 Reisterstown Road, Owings Mills, Maryland. It is open Monday to Friday from 9 am to 8 pm, and Saturday from 9 am to 7 pm. The store can be reached at (877) 878-2064 or online at www.audiowingsmills.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.

Forward-Looking Statements

Included herein are forward-looking statements. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220817005143/en/

Contacts

Investor Inquiries:
Heath Byrd, Executive Vice President and Chief Financial Officer 704-566-2400
Danny Wieland, Vice President, Investor Relations 704-927-3462
ir@sonicautomotive.com

Press Inquiries:
Joshua Greenwald / Danielle DeVoren
646-379-7971 / 212-896-1272
jgreenwald@kcsa.com/ ddevoren@kcsa.com