Sonic Automotive, Inc. (“Sonic” or the “Company”) (NYSE:SAH), a Fortune 500 Company and one of the nation’s largest automotive retailers, today announced it has been named the winner of the 13th Annual Ventana Research Overall Digital Leadership Award. The award highlights Sonic’s use of Microstrategy HyperIntelligence to implement Buyer Hypercards, supporting Sonic’s proprietary, industry-leading real-time vehicle inventory management platform.
The prestigious Ventana Research Digital Leadership Awards recognize leaders and pioneers who have contributed to their organization’s success and championed improvements across their people, processes, and information technology. Buyer Hypercards are a key component of the Company’s EchoPark pre-owned vehicle strategy, providing advanced, analytical inventory procurement support to enable the Company to source the right vehicles, at the right price, in a highly efficient manner.
“We are tremendously proud of our team for developing and implementing our innovative Buyer Hypercards platform,” said Jeff Dyke, President of Sonic Automotive and EchoPark Automotive. “As a company, we are committed to driving advancements in automotive retailing technology to maximize operating efficiency and deliver a fantastic vehicle purchase experience for our guests.”
“Sonic Automotive’s use of MicroStrategy HyperIntelligence brings data and information to employees rather than the other way around,” said David Menninger, SVP and Research Director, Ventana Research. “The application is an innovative use of analytics technology designed around the way people do their jobs. Congratulations to all involved.”
About EchoPark Automotive
EchoPark Automotive is a growing operating segment within the Company that specializes in pre-owned vehicle sales and provides a unique guest experience unlike traditional used car stores. More information about EchoPark Automotive can be found at www.echopark.com.
About Sonic Automotive
Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, North Carolina, is one of the nation’s largest automotive retailers. Sonic can be reached on the web at www.sonicautomotive.com.
About Ventana Research
Ventana Research is an authoritative and respected benchmark business technology research and advisory services firm. Business and IT professionals worldwide are members of its community and benefit from Ventana Research’s insights, as do highly regarded media and association partners around the globe. To learn how Ventana Research advances the maturity of organizations’ use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com.
Included herein are forward-looking statements, including anticipated advancements in automotive retailing technology, operating efficiency and guest experience. There are many factors that affect management’s views about future events and trends of the Company’s business. These factors involve risks and uncertainties that could cause actual results or trends to differ materially from management’s views, including, without limitation, economic conditions in the markets in which we operate, new and used vehicle industry sales volume, anticipated future growth in our EchoPark Segment, the success of our operational strategies, the rate and timing of overall economic expansion or contraction, the effect of the COVID-19 pandemic and related government-imposed restrictions on operations, and the risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 and other reports and information filed with the Securities and Exchange Commission (the “SEC”). The Company does not undertake any obligation to update forward-looking information, except as required under federal securities laws and the rules and regulations of the SEC.