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Sonic Automotive Acquires Carbiz For Transformation Into Echopark Used Car Lot Brand
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‘Used car king’ Todd Caputo sells his Syracuse area used-car dealerships
Updated Feb 22, 2021;
Posted Feb 22, 2021
Todd Caputo walks through the showroom of his Sun Chevrolet dealership in Chittenango in 2016. David Lassman | syracuse.com
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Syracuse, N.Y. Todd Caputo, who bills himself in his frequent TV commercials as the “used car king,” has sold his three Syracuse-area used-car dealerships to Sonic Automotive Inc., one of the nation’s largest automotive retailers.
Caputo’s Cicero and Cortland dealerships are now part of the EchoPark Automotive network, a Sonic subsidiary that specializes in pre-owned vehicles that are no more than four years old. His Elbridge location, which opened early last year, was closed after its acquisition by Sonic and its employees transferred to the other two dealerships.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Sonic Automotive Expands EchoPark’s National Footprint into the Northeast with Addition of Used Car King
February 19, 2021 GMT
SYRACUSE, N.Y. (BUSINESS WIRE) Feb 19, 2021
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 expansion of its specialty pre-owned vehicle brand with the addition of Used Car King to the EchoPark Automotive network.
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These two Used Car King locations bring EchoPark’s nationwide count of retail stores and delivery & buy centers to 18, following the recent openings of four new EchoPark locations during the fourth quarter of 2020. Furthermore, the addition of Used Car King expands EchoPark’s geographic footprint into the northeastern United States, serving car buyers throughout New York State and beyond.
Sonic Automotive Inc (SAH) Q4 2020 Earnings Call Transcript Motley Fool Transcribers © The Motley Fool Logo of jester cap with thought bubble.
Sonic Automotive Inc (NYSE: SAH)
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Operator
Good morning, and welcome to the Sonic Automotive Fourth Quarter 2020 Earnings Conference Call. This conference call is being recorded today, Wednesday, February 17, 2021. Presentation materials, which accompany management s discussion on the conference call, can be accessed at the Company s website at ir.sonicautomotive.com.
At this time, I would like to refer to the safe harbor statement under the Private Securities and Litigation Reform Act of 1995. During this conference call, management may discuss financial projections, information or expectations about the Company s products or market or otherwise make statements about the future. Such statements are forward-looking and subject to a number of risks and uncertainties that could cause the actual resu
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