Sonic Automotive has opened its newest EchoPark specialty pre-owned vehicle store in Plano, Texas, marking Sonic’s 14th EchoPark location nationwide.
Sonic says the opening continues its expansion of the specialty pre-owned vehicle brand, EchoPark Automotive.
With EchoPark Plano now becoming the second Dallas/Fort Worth area store and the sixth in Texas, Sonic says car buyers region-wide can shop for 1- to 4-year-old pre-owned vehicles.
Sonic says those models are priced up to 40% below new-car pricing. Guests visiting EchoPark Plano will be able to choose from more than 400 pre-owned vehicles on site.
“Consumer demand for quality pre-owned vehicles is increasing throughout the nation,” Sonic Automotive and EchoPark Automotive president Jeff Dyke said in a news release.
Dyke continued, “Our team employs a data-driven approach in selecting new markets to build out EchoPark’s nationwide distribution network, and as one of the fastest growing markets in the country, this expansion in the Dallas/Fort Worth area will allow us to grow our market share and further develop the EchoPark brand.”
EchoPark Plano is located at 4400 West Plano Parkway.
EchoPark launched in 2014, and Sonic plans to expand its EchoPark footprint to a 140-point nationwide distribution network by 2025. That network is expected to retail 575,000 vehicles annually and bring in $14 billion in EchoPark revenues by that time, according to the company.
“EchoPark provides an exceptional guest experience, offering shoppers a nearly-new vehicle at a great price with the quality and convenience our guests have come to expect from the EchoPark brand,” Dyke said. “We are continuing to execute our expansion plan and are excited to bring the EchoPark guest experience to several brand-new markets in the coming months.”
Award for digital leadership
In other Sonic news, the company said it has won 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, real-time vehicle inventory management platform.
The Ventana Research Digital Leadership Awards recognize leaders who have contributed to their organization’s success and promoted improvements across their people, processes, and information technology.
Sonic describes Buyer Hypercards as an important component of its EchoPark pre-owned vehicle strategy. The company said Buyer Hypercards provide analytical inventory procurement support, and with that support, the company says it can source the right vehicles, at the right price, efficiently.
“We are tremendously proud of our team for developing and implementing our innovative Buyer Hypercards platform,” Dyke said in a news release. “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.”
Ventana Research senior vice president and research director David Menninger said Sonic’s use of MicroStrategy HyperIntelligence brings data and information to employees instead of the other way around.
Menninger said, “The application is an innovative use of analytics technology designed around the way people do their jobs. Congratulations to all involved.”
Source : AutoFinanceNews