Sonic Automotive, Inc. (SAH): Business Model Canvas [Dec-2025 Updated]

You're looking to understand how a major auto retailer navigates today's choppy market, and honestly, the strategy at Sonic Automotive, Inc. is a fascinating study in duality. As someone who's spent two decades mapping these models, I see a clear playbook: they are expertly balancing the high-touch, high-margin world of franchised luxury and fixed operations-think service and parts-with the volume-driven, tech-enabled efficiency of their EchoPark used vehicle platform. This dual approach helped them hit a Trailing Twelve Month revenue of $15.17 Billion USD by the end of 2025, showing how they capture both the premium buyer and the value-conscious consumer. Dive below to see the full nine-block breakdown of how they structure their partnerships, resources, and revenue streams to make this complex machine work.

Sonic Automotive, Inc. (SAH) - Canvas Business Model: Key Partnerships

You're looking at the core relationships that keep Sonic Automotive, Inc. moving, especially as they push deeper into digital retail and powersports. These aren't just vendors; they are essential for inventory flow and margin capture.

New Vehicle Manufacturers for 25+ Franchised Brands

Sonic Automotive, Inc. maintains relationships with a diverse set of Original Equipment Manufacturers (OEMs) to support its core franchised dealership segment. As of mid-2025, the company operates over 25 different new car brands across its portfolio. Following recent acquisitions, including four Jaguar Land Rover dealerships in California projected to add approximately $500 million in annual revenue, the national footprint expanded to 177 automotive and powersports franchises operating from 125 locations as of July 2025.

Here's a look at the scale of the franchised operations:

The relationship with OEMs is critical, as it directly impacts inventory availability and the financial incentives offered, which can affect margins.

Finance and Insurance (F&I) Product Providers

F&I remains a significant profit driver, with the Franchised Dealerships Segment reporting F&I gross profit per retail unit of $2,500 in the third quarter of 2025. Sonic Automotive, Inc. partners with various providers to offer protection products and financing solutions.

Key F&I partnerships include providers for specific products:

• ResistAll: For professional applied and warranties automotive protection products applied to the exterior and interior.
• EasyCare: For vehicle service contracts covering mechanical or electrical failure after the manufacturer warranty expires.
• Providers for GAP (Guaranteed Asset Protection) coverage.
• Providers for InTire protection covering tire and wheel.

The penetration rate for warranties in-store is strong, but the digital channel presents a challenge:

The difference in penetration suggests a key area for partnership development to close the gap between in-person and digital F&I sales.

Technology Vendors for Digital Retail and Dealership Management

Digital transformation is a focus, evidenced by a major August 2025 announcement. Sonic Automotive, Inc. selected NETSOL Technologies, Inc. to lead a discovery engagement defining the roadmap for a next-generation omnichannel digital retail platform, powered by NETSOL's Transcend Retail solution, specifically for EchoPark Automotive operations. This is a direct effort to enhance the customer experience and unify workflows digitally.

The company also acknowledges reliance on established vendors, as noted in its 2025 regulatory filings, mentioning alignment with CDK Global and other information technology vendors to strengthen its systems infrastructure. The EchoPark Segment reported revenues of $522.5 million and adjusted EBITDA of $8.2 million in Q3 2025.

Major Powersports Brands for the Powersports Segment

The Sonic Powersports segment is a key area for diversification, involving partnerships with major on- and off-road powersports brands. This segment achieved all-time record quarterly revenues of $84.1 million and segment income of $7.8 million in the third quarter of 2025.

Key brand partnerships include:

• Harley-Davidson
• Polaris
• BRP (Can-Am, Sea-Doo)
• Kawasaki and Suzuki
• European brands like BMW, Ducati, Triumph, and Royal Enfield, particularly following recent acquisitions in the Southeast.

The segment operates across 14 locations in North Carolina, South Dakota, and Texas, with recent expansion bringing the total franchises to 177 automotive and powersports combined.

Amazon Autos for Digital Vehicle Listing and Sales Leads

Sonic Automotive, Inc. has a strategic partnership with Amazon Autos to offer vehicles to the public, aiming to meet the 95% of car shoppers who start their transaction online. This collaboration is designed to give dealers new ways to reach Amazon's customer base in a familiar online environment.

The partnership involves specific operational agreements:

• Trade-ins are managed where a partner provides an Actual Cash Value (ACV) offer, which the selling dealer can choose to accept.
• The success metric being closely watched is the penetration rate for F&I products, which is currently lower on the platform at 35% compared to in-store rates.

Finance: draft 13-week cash view by Friday.

Sonic Automotive, Inc. (SAH) - Canvas Business Model: Key Activities

You're analyzing the core engine of Sonic Automotive, Inc. (SAH) operations as of late 2025. This is about the day-to-day work that keeps the revenue flowing across its diversified platform.

Retail sales of new and used vehicles across three segments form the foundation. The Franchised Dealerships Segment drives the bulk of the top line. For the full year 2024, the revenue mix showed:

The company reported all-time record quarterly total revenues of $3.9 billion in the fourth quarter of 2024, and the trailing twelve months (TTM) revenue as of September 30, 2025, reached $15.17 Billion USD, up 9.09% year-over-year. The Franchised Dealerships Segment posted record franchise revenues of $3.4 billion in Q4 2024. The EchoPark Segment, focused on the 1-4 year-old pre-owned market, saw Q2 2025 segment income of $11.7 million and adjusted EBITDA of $16.4 million, up 128% year-over-year for that quarter.

Fixed Operations: parts, service, and collision repair is a crucial, high-margin activity. For the full year 2024, Fixed Operations accounted for 42% of the total gross profit mix. You can see the recent performance trends here:

This segment's gross profit growth in Q4 2024 was supported by a 45% increase in warranty gross profit. Honestly, the margin expansion is what you want to see here.

Strategic acquisitions to expand luxury/import portfolio is a clear capital deployment activity. Sonic Automotive, Inc. is actively building out its high-margin luxury footprint. You should note these specific additions:

• Acquisition of four Jaguar Land Rover (JLR) stores closed on June 30, 2025, projected to add approximately $500 million in annualized revenues.
• Acquisition of the remaining 50% joint venture in North Point Volvo, Audi New Orleans, and Motorcycles of Charlotte & Greensboro, projected to contribute approximately $145 million in annualized revenues.
• The JLR expansion brings the total JLR footprint to 11 dealerships, positioning Sonic Automotive as the largest retailer for those brands in the U.S.

The company completed the acquisition of Audineworleans in December 2024. They executed these deals using cash, ending Q2 2025 with $210 million in combined cash and floor plan deposits on hand, part of a total liquidity of approximately $775 million.

Inventory management and pricing optimization for EchoPark used vehicles is a continuous, data-driven process. Management is focused on controlling costs for their used vehicle segment. Here are some key figures showing the results of that focus:

• EchoPark Segment total gross profit per unit (GPU) hit an all-time record of $3,411 in Q1 2025.
• In Q4 2024, the segment achieved an all-time record annual adjusted EBITDA of $27.6 million, a significant turnaround from a loss of $83.0 million in 2023.
• The company is increasing reliance on street purchases for used vehicles, moving from 20-25% to 30-35% of its acquisition mix.
• As of Q4 2024, the EchoPark Segment had 38 days' supply of used vehicle inventory on a trailing quarter cost of sales basis.

The company is definitely using data to manage stock levels, which is smart.

Recruiting and retaining technician headcount directly supports the Fixed Operations revenue stream. This was a major operational push in 2024. Sonic Automotive exceeded its technician hiring goal, adding a net increase of 335 technicians in 2024, surpassing the internal goal of 300. Management expects these newer hires to further enhance service capacity once they reach full productivity, which is key for balancing customer pay and warranty work going into 2025.

Sonic Automotive, Inc. (SAH) - Canvas Business Model: Key Resources

You're looking at the core assets Sonic Automotive, Inc. (SAH) relies on to execute its strategy as of late 2025. These are the tangible and human capital elements that drive revenue across their segments.

The financial foundation is solid, giving you a clear picture of their immediate capacity. As of September 30, 2025, Sonic Automotive, Inc. reported $815 million in total liquidity. This figure specifically excludes the value of their unencumbered real estate assets, which is a significant, unquantified resource supporting their operations and growth moves, like the recent Jaguar Land Rover acquisitions. The immediate cash position, which includes cash and floor plan deposits on hand, stood at approximately $264 million at that same quarter-end date.

The physical footprint is anchored by two main dealership types. The franchised side, which represents over 25 new vehicle brands, includes 111 dealerships. Also, the company's total national footprint, including powersports franchises, reached 177 franchises operating across 125 locations following recent Q3 2025 acquisitions. This network is strategically placed in major US metropolitan areas.

The EchoPark used vehicle retail network is a key differentiator, supported by its proprietary technology platform. While the company has long-term goals, the concrete network size as of mid-2025 included 18 EchoPark Automotive locations nationwide. Management has targeted reaching 90 percent of the U.S. population with the EchoPark model by the end of 2025.

Your focus on the technician workforce is smart; that human capital directly impacts high-margin Fixed Operations. Sonic Automotive, Inc. accelerated its hiring initiative in 2024, increasing technician headcount by 335 technicians in that fiscal year alone. Once fully productive, that addition was projected to generate approximately $100 million in annualized fixed operations gross profit. For context on margin strength, same-store fixed operations parts and labor gross profit margin hit 51.2% in Q3 2025.

Here's a quick look at the key quantitative resources:

The tangible assets supporting the business model also include:

• Real estate assets, which are unencumbered and not factored into the reported liquidity.
• Floor plan financing capacity, which is implicitly supported by the $815 million total liquidity figure.
• Proprietary technology platform integral to the EchoPark retail experience.

The high-margin Fixed Operations segment benefits from specific technician metrics:

• Technician hiring goal exceeded by 35 technicians in 2024 (goal was 300).
• Same store retail used vehicle gross profit per unit was $1,530 in Q3 2025.
• Same store retail new vehicle gross profit per unit was $2,852 in Q3 2025.

Finance: draft 13-week cash view by Friday.

Sonic Automotive, Inc. (SAH) - Canvas Business Model: Value Propositions

You're looking at the core offerings that Sonic Automotive, Inc. (SAH) is pushing to the market as of late 2025. These are the specific things they claim make their offering stand out.

Access to a diverse portfolio of luxury and import new vehicle brands

Sonic Automotive, Inc. (SAH) maintains a broad footprint across its Franchised Dealerships Segment, which operated 111 locations as of the third quarter of 2025. This scale supports access to a wide array of manufacturer franchises, including luxury and import brands, though specific brand revenue breakdowns aren't detailed in the latest reports.

Value-driven, nearly-new pre-owned vehicles with savings up to $3,000

The EchoPark Segment is positioned around offering value in the pre-owned space. The stated value proposition promises customers savings of up to $3,000 versus the competition when purchasing these nearly-new vehicles. As of Q3 2025, the EchoPark Segment had 18 locations.

Comprehensive, high-margin Fixed Operations (parts, service, collision)

Fixed Operations is a critical profit driver for Sonic Automotive, Inc. (SAH). The gross profit margin in this segment has been consistently strong, showing improvement across the first three quarters of 2025.

The company reported that Fixed Operations gross profit in the Franchised Dealerships Segment grew 8% in the third quarter of 2025 over the prior year period.

Guest-centric, technology-enabled, transparent buying experience

Sonic Automotive, Inc. (SAH) emphasizes a specific customer journey, particularly through its EchoPark brand. This focus is tied to delivering award-winning guest experiences.

• EchoPark mission: Every Car, Happy Owner.
• Consistently delivers award-winning guest experiences.
• Utilizes an innovative technology-enabled sales strategy.

One-stop shop for vehicle sales, financing, and long-term service

The structure of the Franchised Dealerships Segment supports the one-stop shop model, integrating sales with high-margin Finance and Insurance (F&I) products and Fixed Operations. The F&I performance reflects this integration.

The combined gross profit from Fixed Operations and F&I accounted for nearly 75% of the total gross profit mix in the Franchised Dealerships Segment for the second quarter of 2025. Total consolidated revenues for the company hit an all-time quarterly record of $4.0 billion in Q3 2025.

Sonic Automotive, Inc. (SAH) - Canvas Business Model: Customer Relationships

You're looking at how Sonic Automotive, Inc. (SAH) keeps customers coming back, which is critical since the business model relies heavily on repeat service and high-margin add-ons. The relationship focus is clearly split between the traditional franchised dealership service base and the modern, guest-centric approach of EchoPark Automotive.

Personalized, proven guest-centric buying process

The EchoPark segment is the flagship for this approach, aiming for a transparent and positive interaction across all channels. While specific 2025 digital engagement metrics aren't explicitly detailed in terms of online conversion rates, the overall revenue growth suggests the strategy is working. For instance, in the third quarter of 2025, Sonic Automotive, Inc. (SAH) achieved all-time record quarterly total revenues of $4.0 billion, marking a 14% increase year-over-year.

The EchoPark brand explicitly ties its success to this guest focus:

• EchoPark's mission is 'Every Car, Happy Owner.'
• The approach is designed to deliver superior value, aiming for savings of up to $3,000 versus the competition.
• The segment generated an all-time quarterly record adjusted EBITDA of $15.8 million in the first quarter of 2025.

Dedicated service and warranty support via Fixed Operations

The Fixed Operations segment is a powerhouse for sustained customer relationships, driving high-margin, recurring revenue. You can see the relationship strength in the consistent gross profit growth across the first three quarters of 2025. This sustained performance is partly attributed to growing technician capacity, which the company focused on increasing in 2024.

Here's a quick look at the year-to-date performance in the Franchised Dealerships Segment's Fixed Operations:

The growth in warranty work, especially the 38% YoY jump in Q1 2025, shows customers are returning for manufacturer-backed repairs, a key indicator of a strong post-sale relationship.

Digital engagement and online sales tools for convenience

While the search results don't give a specific percentage for digital unit sales, the focus on F&I (Finance and Insurance) GPU (Gross Profit Per Unit) shows success in monetizing the transaction digitally or through streamlined processes. The F&I GPU in the Franchised Dealerships Segment hit an all-time quarterly record of $2,442 in Q1 2025, and reached $2,500 in Q3 2025, up 7% YoY for that quarter. This suggests that the digital tools are effectively supporting the sales process to capture high-margin products.

High-touch relationship management for luxury and import buyers

The data points toward a high-touch approach within the franchised segment, which represents the luxury and import brands. The F&I GPU figures are a concrete measure of the success in relationship-based upselling:

• Q2 2025 Franchised F&I GPU was $2,718 per unit, up 14% year-over-year.
• Q3 2025 Franchised F&I GPU was $2,500 per unit.

These high per-unit figures reflect successful, likely high-touch, engagement during the transaction phase, which is crucial for premium brands.

Focus on award-winning guest experiences (DealerRater recognition)

Sonic Automotive, Inc. (SAH) uses external validation to underscore its commitment to guest experience. The EchoPark brand has been recognized for this focus, which you can use as evidence of the relationship strategy's effectiveness. The search results confirm that EchoPark Automotive received the 2023 Consumer Satisfaction Award from DealerRater, an honor reserved for the top 10 percent of U.S. dealers based on online consumer reviews.

Overall, as of late 2025, the trailing twelve months revenue for Sonic Automotive, Inc. (SAH) stands at approximately $15.18 Billion USD, showing the scale of the customer base these relationship strategies support.

Sonic Automotive, Inc. (SAH) - Canvas Business Model: Channels

You're looking at how Sonic Automotive, Inc. (SAH) gets its products and services to the customer base as of late 2025. It's a mix of traditional physical presence and digital enablement, especially through the EchoPark brand.

The primary channels are anchored in physical locations, but the digital layer is increasingly important for the pre-owned business.

Physical franchised dealership locations remain the bedrock, handling new and used vehicle sales, parts, and service.

• Sonic Automotive, Inc. operates 111 dealerships across the nation.
• These franchised stores represent over 25 different brands of automobiles.
• Luxury and import brands account for approximately 86% of the franchise new-vehicle revenue.
• The Franchised Dealerships Segment saw same-store retail new vehicle unit sales volume increase by 8% in the third quarter of 2025.
• Same-store retail used vehicle unit sales volume grew by 3% in the third quarter of 2025.
• Fixed operations gross profit and F&I gross profit combined accounted for over 75% of the total gross profit mix in Q3 2025.

Standalone EchoPark used vehicle retail stores represent the company's dedicated digital-first, pre-owned channel.

• Sonic Automotive, Inc. had a stated goal of achieving 90% U.S. population coverage with EchoPark by 2025.
• The long-term revenue target for the EchoPark segment was $14 billion in annual revenues by 2025.
• In the third quarter of 2025, EchoPark Segment revenues were $522.5 million.
• Retail used vehicle unit sales volume for the EchoPark Segment was down 8% in Q3 2025.
• As of September 30, 2025, the EchoPark Segment inventory supply was 37 days' supply on a trailing quarter cost of sales basis.
• The segment reported an adjusted segment income of $2.7 million for the third quarter of 2025.

You can see the channel performance breakdown here. Honestly, the contrast between the segments in Q3 2025 is stark.

Company websites and digital retail platforms are integral, particularly for EchoPark's omnichannel approach.

• EchoPark.com allows guests to shop from a nationwide inventory.
• Sonic Automotive, Inc. announced in August 2025 a discovery engagement with NETSOL to define a next-generation omnichannel digital retail platform, leveraging NETSOL's Transcend Retail platform.
• This initiative aims to unify workflows and support a seamless, connected retail journey.

Powersports retail locations represent a smaller, but rapidly growing, channel for Sonic Automotive, Inc.

• The Powersports segment operates 14 locations across North Carolina, South Dakota, and Texas.
• This segment achieved all-time record quarterly revenues of $84.1 million in Q3 2025, a 42% increase year-over-year.
• Segment income for Powersports in Q3 2025 was $7.8 million, a 95% increase from the prior year period.

Regarding third-party online marketplaces (e.g., Amazon Autos), public financial reporting from Sonic Automotive, Inc. does not detail specific revenue contribution or usage statistics for these external platforms as a distinct channel.

Finance: draft 13-week cash view by Friday.

Sonic Automotive, Inc. (SAH) - Canvas Business Model: Customer Segments

You're looking at the core customer groups that drive the business for Sonic Automotive, Inc. as of late 2025. This is a multi-faceted approach, hitting high-end luxury, the high-volume used market, essential after-sales support, and a growing niche segment.

The customer base is segmented across the three main operating divisions: Franchised Dealerships, EchoPark, and Powersports.

• Affluent buyers of new luxury and import vehicles (approx. 86% of franchise new-vehicle revenue)
• Value-conscious consumers seeking 1-4 year-old pre-owned vehicles (EchoPark)
• Existing vehicle owners requiring parts, service, and collision repair
• Enthusiasts and consumers of motorcycles and all-terrain vehicles (Powersports)

The Franchised Dealerships segment remains the largest revenue generator, with Q3 2025 franchise revenues hitting an all-time quarterly record of $3.4 billion, up 17% year-over-year. For context on the overall vehicle sales mix in 2024, New Vehicles accounted for 46% of total revenue, while Used Vehicles accounted for 36%.

Within the core Franchised Dealerships business, the affluent buyer segment is supported by strong per-unit profitability metrics:

The existing vehicle owners are served by the Fixed Operations group, which saw robust growth as of Q3 2025. This group relies on the company's investment in technician capacity, which was increased in 2024.

• Same-store Fixed Operations gross profit was up 8% in Q3 2025.
• Same-store Fixed Operations gross profit margin reached 51.2% in Q3 2025.
• Same-store customer pay gross profit grew 6% year-over-year in Q3 2025.
• Finance and Insurance (F&I) gross profit per retail unit was $2,500 in Q3 2025.

Value-conscious consumers are the target for the EchoPark segment, which focuses on 1-4 year-old pre-owned vehicles. This segment posted Q3 2025 revenues of $522.5 million.

The unit volume for EchoPark in Q3 2025 was 16,353 retail used vehicles, a decrease of 8% year-over-year. However, performance in Q1 2025 showed stronger volume, with 18,798 retail units sold, up 5% year-over-year. The segment's adjusted EBITDA for Q3 2025 was $8.2 million.

Finally, enthusiasts and powersports consumers represent a smaller but rapidly growing customer segment. The Powersports segment achieved all-time record quarterly revenues in Q3 2025 of $84.1 million, marking a 42% increase. This segment's adjusted EBITDA also set a record at $10.1 million, up 74% from the prior year period.

As of September 30, 2025, the company maintained total liquidity of approximately $815 million, supporting capital deployment across these customer-focused growth strategies. Finance: draft 13-week cash view by Friday.

Sonic Automotive, Inc. (SAH) - Canvas Business Model: Cost Structure

The cost structure for Sonic Automotive, Inc. (SAH) is heavily weighted toward the cost of acquiring the vehicles they sell, which is the primary driver of expenses in this business.

High cost of revenue (vehicle acquisition cost) represents the largest component. For the third quarter ended September 30, 2025, the reported Cost of Revenue reached $3.4 billion. This figure reflects the cost of retail new and used vehicles sold across the Franchised Dealerships and EchoPark segments. For context on the trend, the Cost of Revenue for Q3 2025 was up 13.92% from the same period in the prior year.

Selling, General, and Administrative (SG&A) expenses are the next major category, often viewed relative to gross profit. In the first quarter of 2025, total reported SG&A expenses consumed 67.1% of the total gross profit. Looking ahead, management's outlook for the full year 2025 suggested an expectation for adjusted SG&A as a percentage of gross profit in the low-70s percentage range.

Compensation and benefits for sales staff and technicians are embedded within SG&A and Cost of Sales, but specific focus areas highlight their importance. Management noted that strength in same-store customer pay gross profit in Q3 2025 was attributable to the increase in technician headcount achieved in 2024 and ongoing efforts to retain those technicians through 2025. This investment in skilled labor is a direct cost to maintain high-margin Fixed Operations revenue.

Floor plan interest expense for vehicle inventory financing fluctuates based on borrowing levels and variable interest rates tied to benchmarks like one-month Term SOFR or the U.S. prime rate. For the three months ended September 30, 2025, the interest expense specifically for new vehicle floor plans decreased by $2.5 million compared to the same period in 2024. To mitigate this cost, Sonic Automotive maintained a floor plan deposit balance of $175.0 million as of September 30, 2025, which effectively reduces the net interest expense.

The physical footprint of Sonic Automotive, Inc. is substantial, representing significant fixed operating costs. As of early June 2025, the company operated 123 dealers across the United States. These facilities require ongoing expenditure for real estate, leases, maintenance, and utilities.

Here's a quick look at some key cost-related metrics from recent reporting periods:

The cost structure also includes variable expenses tied to sales performance and inventory management:

• Franchised new vehicle gross profit per unit (GPU) for same-store sales was $2,852 in Q3 2025.
• Franchised used vehicle GPU for same-store sales was $1,530 in Q3 2025.
• EchoPark total GPU hit a record of $3,411 per unit in Q1 2025.
• The Powersports segment incurred a segment loss of $3.5 million in Q1 2025.

Managing these inventory-related costs, especially vehicle acquisition costs and financing interest, is critical to profitability, so you'll see management constantly focused on GPU and inventory turns.

Sonic Automotive, Inc. (SAH) - Canvas Business Model: Revenue Streams

You're looking at the core ways Sonic Automotive, Inc. (SAH) brings in money as of late 2025. It's a diversified model built around vehicle sales, but the real profit engine often comes from the services attached to those sales. The total Trailing Twelve Month (TTM) revenue as of December 2025 stands at $15.17 Billion USD.

The revenue streams flow primarily through the three operating segments, with the Franchised Dealerships segment being the largest contributor to the top line, as you'd expect from a traditional dealership group. Honestly, the mix of new and used sales, plus the high-margin service and finance components, defines their revenue profile.

Here's a look at the revenue contribution from the three main segments based on the most recent quarterly data available:

Breaking down the specific types of revenue streams as outlined, the largest segment by volume is New vehicle retail sales, which is a major component of the Franchised Dealerships segment revenue. The same-store new retail unit volume grew 7% year-over-year in the third quarter, showing solid underlying demand in that area.

Used vehicle retail sales are captured across both the Franchised and EchoPark segments. While the Franchised segment saw same-store used retail volume increase 3%, the dedicated EchoPark segment experienced an 8% decline in retail unit sales volume for the quarter, though its profitability improved year-over-year.

The high-margin components-Fixed Operations: parts, service, and collision repair-are critical. For the same-store basis in the Franchised Dealerships segment, fixed operations revenues were up 6% year-over-year. The gross profit from Fixed Operations and F&I combined accounted for over 75% of total gross profit mix, which tells you where the real margin dollars are generated.

Finally, Finance and Insurance (F&I) product sales, which include things like extended warranties, are a significant revenue driver, particularly on a gross profit basis. Franchise same-store F&I Gross Profit per Unit (GPU) was reported at $2,597 per unit in Q3 2025, up 11% year-over-year, demonstrating the continued effectiveness of attaching these products to vehicle sales.

You can see the revenue streams are layered:

• New Vehicle Retail Sales (Volume Driver)
• Used Vehicle Retail Sales (EchoPark and Franchise)
• Fixed Operations Revenue (Service and Parts)
• Finance and Insurance (F&I) Product Sales (High Margin Attach)
• Powersports Sales (Emerging Growth Stream)

Finance: draft 13-week cash view by Friday.