Sonic Reports 10.7% Increase In Customer-Pay Revenue For Q3 2023

Sonic Automotive reported $453.40 million in consolidated parts, service and collision repair (fixed operations) revenue for the third quarter of 2023 — an increase of 11.1% compared to a year ago.

Fixed ops. revenue from Sonic’s franchised dealership group grew 6.7% to $431.80 million in the quarter. On a same-store basis, franchised dealership fixed ops. revenue increased 7.6% year over year, which breaks down as …
• Customer-pay revenue up 10.7%.
• Warranty revenue up 3.4%.
• Wholesale parts revenue up 3.7%.
• Internal, sublet and other revenue up 6.3%.

Sonic’s consolidated fixed ops. gross profit rose 11.1% to $225.30 million in the quarter, with gross margin unchanged at 49.7%.

Fixed ops. gross profit from the franchised dealership group grew 7.0% to $215.10 million. On a same-store basis, franchised dealership fixed ops. gross profit was up 7.8%, which breaks down as …
• Customer-pay gross profit up 9.8%.
• Warranty gross profit up 7.8%.
• Wholesale parts gross profit up 2.2%.
• Internal, sublet and other gross profit up 4.7%.

As of Sept. 30, 2023, Charlotte-based Sonic operated 108 stores in its franchised dealership segment, consisting of 134 new vehicle franchises representing 28 different brands of cars and light trucks, as well as 16 collision repair centers.

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