Time New York: Mon 15 Oct 06:12 am  |  Save 15% on H&R Block Online

  
caticonslite_bm_alt

Sonic Automotive (SAH) Expands EchoPark Store in Charlotte

Zacks

Sonic Automotive, Inc. SAH has announced that it is expanding its EchoPark Automotive to Charlotte, NC. Notably, introduced in 2014, EchoPark has already been well accepted by customers in Denver, Colorado, Dallas and San Antonio, Texas. The company is likely to witness similar customer adulation this time around too.

Per CarFax, EchoPark model sells almost new vehicles at 20-40% less price than new vehicles. In fact, since 2014, EchoPark has witnessed triple-digit growth, amply meeting expectations of customers. Apart from huge positive economic impact of the EchoPark stores, EchoPark Automotive is also involved in extensive community service in the localities.

Sonic Automotive focuses on expanding its network of stores and grow its used-vehicle business to boost sales. The company already informed that it is opening EchoPark stores in Charlotte, NC, and Houston, TX, in fourth-quarter 2018.

Year to date, shares of Sonic Automotive have outperformed the industry it belongs to. Over this time frame, shares of the company have edged down 1.4% compared with 16.1% decline recorded by the industry.


Zacks Rank & Stocks to Consider

Currently, Sonic Automotive has a Zacks Rank #3 (Hold). A few better-ranked stocks in the auto space are Allison Transmission Holdings, Inc. ALSN, American Axle & Manufacturing Holdings, Inc. AXL and Navistar International Corporation NAV, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Allison Transmission has an expected long-term growth rate of 10%. Over the past six months, shares of the company have surged 33.8%.

American Axle & Manufacturing has an expected long-term growth rate of 8.1%. Over the past six months, shares of the company have risen 10.9%.

Navistar has an expected long-term growth rate of 5%. Over the past six months, shares of the company have risen 5.8%.

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 – 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.

See Them Free>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

Zacks Investment Research
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.