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Sonic Automotive (SAH) Unveils 9th EchoPark in California
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Sonic Automotive, Inc. (SAH - Free Report) recently unveiled its ninth specialty pre-owned vehicle store — EchoPark Automotive — in Long Beach, CA. Since its introduction in 2014, EchoPark has been offering better ways to purchase pre-owned vehicles, changing how consumers buy used cars.
The firm’s used-car segment EchoPark is its major growth engine. Stellar organic growth, fueled by the EchoPark expansion, is likely to significantly boost the company’s growth profile. The segment is on track to bring in more than $1.2 billion of revenues by the end of this year.
The EchoPark retail space comes with a phygital environment, which incorporates physical space with digital technology. Every EchoPark visitor engages in the sales process and does not have to bargain over prices, with the help of an experienced guide.
All the vehicles come with a clean report of CarFax history and 190-point inspection. Also, one- to four-year old vehicles are priced 20-40% below new car pricing.
Further, the EchoPark team has decided to prepare and serve hot meals to the homeless, in collaboration with the Long Beach Rescue Mission. Throughout this December, it will have a vehicle at the new location filled with items like clean socks, bedding and canned goods, which will be donated later to the Long Beach Rescue Mission, as part of the company’s "Fill Our Car, Fill A Need" drive.
The company projects continued execution of its EchoPark development strategies, omni-channel sales and other online initiatives, in the days ahead.
Zacks Rank and Other Stocks to Consider
Currently, Sonic Automotive sports a Zacks Rank #1 (Strong Buy). In the past six months, shares of Sonic Automotive have outperformed the industry it belongs to. Its shares have appreciated 40.1% compared with the industry’s rise of 25.4%.
Other top-ranked stocks in the Auto-Tires-Trucks sector include Weichai Power Co. , Spartan Motors, Inc. and SPX Corporation (SPXC - Free Report) . While Weichai Power flaunts a Zacks Rank #1, Spartan Motors and SPX carry a Zacks Rank of 2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Weichai Power has a projected earnings growth rate of 6.11% for the current year. Its shares have gained 75.5% over the past year.
Spartan Motors has an estimated earnings growth rate of 85.42% for the ongoing year. The company’s shares have surged 141.6% in a year’s time.
SPX has an expected earnings growth rate of 23.18% for 2019. The stock has appreciated 87.7% in the past year.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, SherazMian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
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Sonic Automotive (SAH) Unveils 9th EchoPark in California
Sonic Automotive, Inc. (SAH - Free Report) recently unveiled its ninth specialty pre-owned vehicle store — EchoPark Automotive — in Long Beach, CA. Since its introduction in 2014, EchoPark has been offering better ways to purchase pre-owned vehicles, changing how consumers buy used cars.
The firm’s used-car segment EchoPark is its major growth engine. Stellar organic growth, fueled by the EchoPark expansion, is likely to significantly boost the company’s growth profile. The segment is on track to bring in more than $1.2 billion of revenues by the end of this year.
The EchoPark retail space comes with a phygital environment, which incorporates physical space with digital technology. Every EchoPark visitor engages in the sales process and does not have to bargain over prices, with the help of an experienced guide.
All the vehicles come with a clean report of CarFax history and 190-point inspection. Also, one- to four-year old vehicles are priced 20-40% below new car pricing.
Further, the EchoPark team has decided to prepare and serve hot meals to the homeless, in collaboration with the Long Beach Rescue Mission. Throughout this December, it will have a vehicle at the new location filled with items like clean socks, bedding and canned goods, which will be donated later to the Long Beach Rescue Mission, as part of the company’s "Fill Our Car, Fill A Need" drive.
The company projects continued execution of its EchoPark development strategies, omni-channel sales and other online initiatives, in the days ahead.
Zacks Rank and Other Stocks to Consider
Currently, Sonic Automotive sports a Zacks Rank #1 (Strong Buy). In the past six months, shares of Sonic Automotive have outperformed the industry it belongs to. Its shares have appreciated 40.1% compared with the industry’s rise of 25.4%.
Other top-ranked stocks in the Auto-Tires-Trucks sector include Weichai Power Co. , Spartan Motors, Inc. and SPX Corporation (SPXC - Free Report) . While Weichai Power flaunts a Zacks Rank #1, Spartan Motors and SPX carry a Zacks Rank of 2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Weichai Power has a projected earnings growth rate of 6.11% for the current year. Its shares have gained 75.5% over the past year.
Spartan Motors has an estimated earnings growth rate of 85.42% for the ongoing year. The company’s shares have surged 141.6% in a year’s time.
SPX has an expected earnings growth rate of 23.18% for 2019. The stock has appreciated 87.7% in the past year.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, SherazMian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
See 5 Stocks Set to Double>>