Used Car News

Sonic Automotive Inc. reported a profit in its latest quarter thanks in part to strong used-car sales.

Overall used vehicle unit volume was up 18 percent and total used vehicle revenue was up almost 23 percent for the fourth quarter compared to the same quarter last year.

Jeff Dyke, the company's executive vice president of operations, said, "The operating playbooks we have been steadily implementing in our used vehicle business continue to drive improvements. This is not just trimming margins to gain volume."

Sonic's gross profit dollars generated by its used vehicle business increased $4.7 million, or 21.1%, compared to the prior year period.