Sonic Automotive came through with record fixed operations (parts, service and collision) gross profit of $152.59 million, up 8.3 percent, for the fourth quarter of 2013. Fixed operations revenue increased 10.4 percent to $316.89 million. On a same-store basis, revenue was up 7.2 percent.
Customer-pay revenue increased 6.8 percent to $139.44 million for the quarter (up 3 percent on a same-store basis). Customer-pay gross profit rose 6.6 percent. Warranty revenue climbed 21.5 percent to $50.57 million (up 18.2 percent on a same-store basis). Warranty gross profit rose 21.5 percent. Wholesale parts revenue increased 16.2 percent to $44.47 million (up 12.9 percent on a same-store basis). Wholesale parts gross profit rose 11.6 percent.
Charlotte, NC-based Sonic Automotive operates 123 franchises in 14 states representing 25 different brands of cars and light trucks, as well as 21 collision repair centers.
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