Sonic Automotive Slated to Expand Denver Footprint

Auto Finance News

One of the largest auto retailers in the country today announced an agreement to buy two franchises from Denver-based Murray Motor Imports Co. 

Sonic Automotive is expected to add roughly $200 million in revenue in its first year operating Murray BMW of Denver and Mercedes-Benz of Denver. These two dealerships bring Sonic Automotive’s footprint in the area to four dealerships as the auto group already operates Mountain States Toyota and Lone Tree Cadillac.

The deal is expected to be complete by the end of July, and is dependent on normal closing conditions — including manufacturers’ approval.

Charlotte, N.C.-based Sonic Automotive is a Fortune 500 company that operates more than 100 dealerships in 14 states and 25 major metro areas. Its first-quarter earnings were $21.7 million, a 2.6% increase over 1Q12.

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