Sonic Automotive Issues Update To 2020 Outlook - Quick Facts

(RTTNews) - Sonic Automotive Inc. (SAH) said the improving trends the company experienced in late April have continued, with May month to date same store new vehicle sales volume down less than 20% and used vehicle sales volume down less than 15% at the franchised stores, and used vehicle sales volume down less than 10% at EchoPark stores compared to the same prior year period.

The company said new and used vehicle gross profit per unit continues to be lower than the prior year, due in part to strategic pricing adjustments it made to increase sales volume. Fixed operations gross profit was down less than 30% in May month to date compared to the prior year period.

Sonic currently expects to provide the next update to 2020 outlook the week of June 15.