Sonic Automotive Continues Expansion of Its Franchised Dealership Network With the Acquisition of Cook Volkswagen
Summary
“The successful longevity of this dealership franchise in the Maryland market, combined with the strength of the Volkswagen brand and group of dedicated teammates, aligns with our company’s strategy of providing an exceptional experience to consumers in new markets and attaining $25 billion in revenues by 2025.” “This is our fourth acquisition of the year, and we are thrilled to welcome the team from Volkswagen of Fallston into our growing family,” said Jeff Dyke, President of Sonic Automotive and EchoPark Automotive. 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 rapid growth plan is expected to bring our unique business model to 90% of the U.S. population by 2025, utilizing one of the most innovative technology-enabled sales strategies in our industry. Our approach provides a personalized and proven guest-centric buying process that consistently delivers award winning guest experiences and superior value to car buyers nationwide, with savings of up to $3,000 versus the competition. We believe EchoPark is on pace to become the #1 retailer in the nearly new pre-owned vehicle market by 2025, and is already making its mark by earning the 2021 Consumer Satisfaction Award from DealerRater, expanding its Owner Experience Centers, developing an all-new digital ecommerce platform and focusing on growing its brand nationwide.