who-owns-sonic-automotive

Who owns Sonic Automotive?

ByFrank Mawutor

Sonic Automotive is a Fortune 500 company based in Charlotte, North Carolina, and is the fifth largest automotive retailer in the United States as measured by total revenues. Sonic Automotive operates in 24 states with more than 100 dealerships representing over 25 different brands of automobiles. The dealerships market new and used cars, replacement parts…

Sonic Automotive is a Fortune 500 company based in Charlotte, North Carolina, and is the fifth largest automotive retailer in the United States as measured by total revenues. Sonic Automotive operates in 24 states with more than 100 dealerships representing over 25 different brands of automobiles. The dealerships market new and used cars, replacement parts and vehicle maintenance, as well as collision repair services.

who-owns-sonic-automotiveWho owns Sonic Automotive?

Sonic ranked 300th on the 2022 Fortune 500 list. The company also is a member of the Russell 2000 Index. Sonic Automotive was launched as a public company in November 1997 by O Bruton Smith. At the time, the company had 20 stores, representing 15 brands and several hundred employees.

The Smith family holds over 30% of the total shares outstanding but has over 80% of the voting power because of a dual-class structure with Super-voting stock. Sonic sold two dealerships to Graham Holdings in February 2019. The Lexus of Rockville store was renamed Ourisman Lexus of Rockville, as Graham has partnered with Chris Ourisman, president of the Ourisman Auto Group, to manage the locations.

 

 

Frank Mawutor is a professional Teacher, loves music for that matter a rapper, very generous. He's the head of music department at celebritiesbuzz.com.gh. His ultimate desire is to promote Ghana music to the world through blogging. He has in-dept experience in how to promote young and upcoming artiste to get to the very top.

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