The high prices of used cars may finally be dropping: Sonic Automotive president.

https://www.cnbc.com/2021/08/01/used-car-high-prices-may-finally-be-dropping.html

KEY POINTS:

The average transaction price for a used car was $25,410 in the second quarter of 2021, up 21% year-over-year, the highest average price for a pre-owned vehicle that Edmunds has ever tracked.

Several automakers, including General Motors and Ford, have cut new vehicle production due to semiconductor chip shortages, putting further constraints on inventory and driving up prices.

New car inventory is improving and the chip issues should alleviate in the months ahead.

Dyke says the market is leveling off, with prices dropping by as much as $2,000 for a used car over the course of July as the supply of new cars is starting to increase

All about SUPPLY and DEMAND!

“We’ve never seen this before where you have an inversion where wholesale prices are really higher than retail prices, but that’s all coming to an end.”

News; $SAH Sonic Automotive $SAH Trading Report

The Sonic Automotive (NYSE: SAH) update and the technical summary table below can help you manage risk and optimize returns. Here we provide day, swing, and longer-term trading plans for SAH, and we cover 1000 other stocks too. This is a snapshot, it was real-time when the report was pu...

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News: $SAH RM LAW Announces Investigation of Sonic Automotive, Inc.

BERWYN, Pa. , July 14, 2020 /PRNewswire/ --  RM LAW, P.C.  announces an investigation on behalf of Sonic Automotive, Inc. ("Sonic Automotive" or the "Company") (NYSE: SAH) investors concerning the Company and its officers' possible violations of federal securities laws. ...

Got this from SAH - RM LAW Announces Investigation of Sonic Automotive, Inc.

News: $SAH Sonic Automotive Hosts Inaugural Women's Symposium

HOUSTON, April 26, 2019 /PRNewswire/ -- Sonic Automotive, Inc. (NYSE: SAH), is hosting its first women's leadership symposium in Houston, Texas on Sunday, April 28th at the Hotel Zaza.  This marks the first in a series of leadership development programs the company is launchi...

In case you are interested https://marketwirenews.com/news-releases/sonic-automotive-hosts-inaugural-women-s-symposium-8064636.html

News: $SAH Sonic Automotive's EchoPark Profitable and On-Track to Exceed $1.0 Billion in 2019 Revenues

CHARLOTTE, N.C. , April 25, 2019 /PRNewswire/ -- Sonic Automotive, Inc. (NYSE: SAH), one of the nation's largest automotive retailers, today reported financial results for the first quarter of 2019. EchoPark revenues of $249.6 million during the first quarter of 2019, up 89.8% from t...

Read the whole news https://marketwirenews.com/news-releases/sonic-automotive-s-echopark-profitable-and-on-track-to-exceed-1-0-billion-in-2019-revenues-8056776.html

Sonic Automotive, Inc. Schedules Release Of Second Quarter Results And ......
Sacramento Bee - Jun 27, 2012

http://www.sacbee.com/2012/06/27/4592930/sonic-automotive-inc-schedules.html

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Sonic Automotive, Inc. (Sonic) operates as an automotive retailer in the United States. As of December 31, 2010, the Company operated 135 dealership franchises at 118 dealership locations, representing 29 brands of cars and light trucks, and 25 collision repair centers in 15 states. Sonic’s dealerships provide services, including sales of both new and used cars and light trucks; sales of replacement parts and performance of vehicle maintenance, warranty, paint and repair services (collectively, Fixed Operations), and arrangement of extended service contracts, financing and insurance and other aftermarket products (collectively, F&I) for its automotive customers. During the year ended December 31, 2010, the Company disposed of 13 franchises. As of December 31, 2010, Sonic sold a total of 29 foreign and domestic brands of new vehicles.


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