October 27, 2021

condoritolapelicula

Half the Automotive

Sonic Automotive Opens Las Vegas Dealership

Auto retailer Sonic Automotive, Inc. on Tuesday (Aug. 17) opened an EchoPark Automotive outpost in Las Vegas, continuing the expansion of the brand across the U.S. EchoPark customers can shop in person or pick up their cars at the new Las Vegas area location after shopping online. The used car dealership has more than 10,000 one- to four-year-old vehicles listed for sale.

“EchoPark Las Vegas is an important part of our growing omnichannel solution for consumers, and offers guests who visit in-store or shop online at EchoPark.com an entirely new way to buy cars,” said David Smith, CEO of Sonic Automotive and EchoPark Automotive, in the company announcement. “Our rapidly growing distribution network brings an exciting, seamless guest experience to another key market.”

EchoPark, which opened in 2014, expects to have 90 percent population coverage across the U.S. by 2025 and has a target of two million vehicles sold per year at maturity. The Las Vegas EchoPark location will employ about 40 people when it’s fully staffed.

Related: Sonic Automotive Opens EchoPark Dealership In Alabama

Charlotte-based Sonic opened a Birmingham, Alabama EchoPark dealership in April and has other locations in Charlotte, North Carolina; Nashville, Tennessee; and Tampa, Florida, among other places, as part of its push for 140 nationwide locations.

Read Next: Data Is The Oil For Revved-Up eCommerce Car Sales

Car buyers are increasingly turning their attention to eCommerce, as Vroom saw its online revenues jump by 230 percent year on year to $579 million. CarMax noted in its own most recent quarterly report that its retail sales doubled from last year’s levels as it looks to beef up its digital presence.

Online car dealership Carvana’s revenue went up almost 200 percent in the second quarter of 2021 after it sold more than 100,000 vehicles for the first time, a 96 percent increase from a year earlier.

Vroom’s Patrick Hennessy told PYMNTS’ Karen Webster earlier this year that platforms and apps can serve as digital front doors to browsing, buying, servicing and maintaining a car, among other services.

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NEW PYMNTS DATA: 58 PERCENT OF MULTINATIONAL FIRMS ARE USING CRYPTOCURRENCY

 About: In spite of their price volatility and regulatory uncertainty, new PYMNTS research shows that 58 percent of multinational firms are already using at least one form of cryptocurrency — especially when moving funds across borders. The new Cryptocurrency, Blockchain and Global Business survey, a PYMNTS and Circle collaboration, polls 500 executives looks at the potential and the pitfalls facing crypto as it moves into the financial mainstream.