June 17, 2021

Gp Delivers

The excellent automotive artisans

Sonic Automotive Opens EchoPark Dealership

Sonic Automotive, Inc. has grown its network of EchoPark pre-owned vehicle stores with the opening of a new location in Birmingham, Alabama, according to a Monday (April 12) announcement. EchoPark Birmingham, which is located at 2001 Tom Williams Way in Birmingham, is anticipated to employ about 70 EchoPark workers when completely staffed.

David Smith, CEO of Sonic Automotive and EchoPark Automotive, said in the announcement that Birmingham “has been a great market for Sonic’s new vehicle business for many years.”

“More and more people are getting back out on the roads as we head further into 2021, and we expect to see continued strong demand for pre-owned vehicles and rapid growth for the EchoPark brand…” Smith said in the announcement. He also noted that “there is a tremendous opportunity for growth in the pre-owned vehicle market.”

EchoPark Automotive, an operating segment within Sonic Automotive, launched in 2014. Sonic Automotive “continues to expand its EchoPark footprint with plans to reach a 140-point nationwide distribution network by 2025,” according to the announcement.

The brand has dealerships in Charlotte, North Carolina; Nashville, Tennessee; and Tampa, Florida, among other places. according to its website.

Sonic Automotive is a Charlotte, North Carolina-based Fortune 500 company, and is among the country’s biggest automotive retailers, the announcement stated.

The news comes as the digital used car dealership Carvana has invested half a billion dollars to hire new staffers and open new centers, betting on a continuation of the pandemic-era upswing in sales. Carvana, among other similar merchants, has done well amid COVID-19, as people shifted toward online methods of purchasing. Carvana Chief Financial Officer Mark Jenkins previously told The Wall Street Journal that the firm is confident in its chances going forward, noting that “the customer preference shift toward more comfort buying online [is] something we think will be here to stay.”

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NEW PYMNTS STUDY: OPEN BANKING 2021 

About The Study: Open banking-powered payment offerings have been available in some markets since 2018, but the pandemic drove many consumers to try these solutions for the first time — and there’s no going back. In the Open Banking Report, PYMNTS examines open banking’s rise as merchants and payment services providers worldwide tap into such options to offer secure, seamless account-to-account payments.